Regularly named one of the happiest and most liveable places on earth, Denmark has been a popular destination for British expats for decades. The quality of life is excellent, but this comes at a price which is reflected in the cost of living in Denmark; a cost that may be higher than what you’re used to paying in the UK. 

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The Currency in Denmark

Although Denmark is an EU member, the country did not adopt the Euro. The currency in Denmark is the Danish Krone (kr.), and its official currency code is DKK. You will find the Krone (known as Kroner in plural) displayed as DKK at Moneycorp. One Krone is subdivided into 100 øre. Banknotes are available in denominations of 50, 100, 200, 500, and 1000. Coins are available in denominations of 1, 2, 5, 10, and 20 kr. and 50-øre. The Krone is pegged to the euro via the European Union's exchange rate mechanism, ERM II. £1 is worth kr. 8.39 at 4.27pm on 15 February 2023.

Where to Live in Denmark

The Kingdom of Denmark includes metropolitan Denmark as well as the autonomous territories of the Faroe Islands and Greenland. However, when most people think about the country, they think about metropolitan Denmark, which consists of the northern part of the Jutland peninsula and a 406-island archipelago. The capital city Copenhagen is on the largest of these islands, namely Zealand. Other islands with large populations include Funen, the North Jutlandic Island, and Amager. 

The cities most popular with British expats include Copenhagen, Aarhus, Odense, Aalborg, and Vejle. As can be expected the cost of living in Denmark is at its highest in the capital city. According to the 2022 Mercer Cost of Living Survey, Copenhagen is the world’s 11th most expensive city to live in.

How Much Does Accommodation Cost in Denmark?

The cost of accommodation in Denmark depends on the city or town in which you decide to live. Rental and property prices in Copenhagen are slightly lower than what you would find in London, although they are higher than in many other UK towns and cities. The cost of accommodation is one of the reasons for the relatively high average cost of living in Denmark. The table below offers an idea of rental and property prices.

All figures taken from Numbeo and currency conversions were done at 4.27pm on 15 February 2023.

Copenhagen

Aarhus

Odense

How Much Does Transport Cost in Denmark?

While the price of fuel is slightly higher in Denmark than in the UK, the cost of transport in general is lower. From the price of a single-journey bus ticket to the price of new vehicles, you can expect to pay a little less than you would in the UK. This is one of the reasons the average cost of living in Denmark isn’t as high as it could be.

The Cost of Living in Denmark for International Students

The cost of living in Denmark for international students is quite high, although EU/EEA students and permanent residents do not need to pay for tuition. Fees range between £5325.12 and £15975.36 per year for all other international students, depending on the programme. Those students also must pay an application fee of approximately £88.75.

As for other living expenses, they depend on individual students’ lifestyle and choices. While the average cost of living in Denmark is high, students can find rooms for rent for less than £443.76 per month in towns and cities other than Copenhagen. You should budget between £177.50 and £266.26 per month for food and approximately £44.38 per month for transport, although you can buy a second-hand bicycle for £133.13 or less. Overall, your monthly budget should be between £665.64 and £798.77 per month if you live and study outside Copenhagen, and approximately £1065.02 per month if you live and study in the capital city.

What is the Cost of Living in Denmark Compared to the UK?

You will see the high cost of living in Denmark compared to the UK in the cost of food, groceries, and various goods and services. The table below indicates how much you can expect to pay for various items in this beautiful Nordic country.

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With natural beauty, a culture that values contentment and happiness, and an egalitarian approach to life, Denmark is a wonderful place to consider moving to. Whether you want to work, study, or retire to this fascinating country, you’re sure to find a city or town to appeal to you. Make it easier for yourself to send money to Denmark by signing up for a personal account with Moneycorp.