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 pro-vides affordable housing and social housing and is capable ofbeing self-governing and self-financing. We examine the privatenon-profit housing sector’s governance and financing model andassess the extent to which its institutional framework and revol-ving funds model allow it to serve as a role model for the devel-opment of affordable housing in other countries and cities. Thepaper concludes that while Denmark’s private non-profit housingsystem has succeeded in providing affordable housing with rela-tively low levels of public financing, its exposure to state interven-tion risks weakening its governance and financial power.