Dutch property prices now at record high

Published:  17 Jul at 6 PM
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House prices across the Netherlands are now at record levels, with the boom expected to continue.

Long-stay expats who had the foresight to purchase a home several years ago are more than pleased with the house price rises over the last year or so. Figures for this year’s second quarter revealed a 10.4 per cent increase over the same period in 2017, although actual sales have declined considerably over the past year. At the present time, the average cost of a home in the Netherlands is around 288,000 euros, with a further increase of around 10 per cent expected by the end of this year.

Apartments saw the sharpest increases in price at 16 per cent, as well as the sharpest decline in sales, with single-family home prices up by between seven and 10 per cent. Real estate professionals are forecasting an overall price average of 300,000 euros by January 2019. The actual housing supply has been falling for three years to date, with the scarcity resulting in faster sales. From listing through viewing to completion, the process is now taking 45 days or so, the fastest since the year 2000. Although house price increases are now the norm across the entire country, the most popular cities such as The Hague and Amsterdam saw rises of between 19 and 17 per cent over the same period last year. The only region in the Netherlands where real estate prices have stayed stable is Northeast Groningen, known for its regular earthquakes.

Whilst the Netherlands in general is seeing house price rises in double figures, new-built homes are proving to be an even better investment for both expats and locals. The average new-build house in a good area will fetch 260,000, an increase of 100,000 euros over a period of three years. As homes become unaffordable for many, calls for more construction at affordable prices have been heard, with lawmakers including the suggestion in the National Housing Agenda. Some 75,000 builds per year is believed to be the correct number necessary to reduce the shortfall now standing at 200,000 homes.
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