Governing and financing affordable housing at the intersection of the market and the state: Denmark's private non-profit housing system

Denmark's private non-profit housing (almene boliger) sector provides affordable housing and social housing and is capable of being self-governing and self-financing. We examine the private non-profit housing sector's governance and financing model and assess the extent to which its institutional framework and revolving funds model allow it to serve as a role model for the development of affordable housing in other countries and cities. The paper concludes that while Denmark's private non-profit housing system has succeeded in providing affordable housing with relatively low levels of public financing, its exposure to state intervention risks weakening its governance and financial power.