also the interest rate has gone down from 20% to close to 0%.the rate is going up again, and we should see the housing market correct itself, but it usually takes a couple of years - in particular, my take is that the interest rate does not go down as long as we expect it to (ie. we don't change the behaviors that are required for the banks to lower the rate).

regardless, in Copenhagen you can get a 2 room apartment for 2.5m DKK. if you have a down payment of 200k you can buy this with a salary of roughly 550k a year, which indeed is reasonable as you live in Copenhagen. if you are a couple, then you are at 5m kr where you can start to get houses in the suburb or quite nice apartments.

personally I prefer a market with higher interest rates such that the price is not just set as multiples of a median salary.