Amsterdam rent hits record high

Rental homes have never been more expensive in Amsterdam, according to online housing market Pararius. Prices have gone up with 5.6 percent in the second quarter of this year compared to last year, the NOS reports. The monthly rent for a house in Amsterdam is now €19.31 per square meter. This beats the record height of €18.97 in the first quarter of 2008. According to Pararius, rental prices across the rest of The Netherlands has remained the same over the last few years, at well below the record level from before the economic crisis. Pararius director Jasper de Groot believes that it is down to three problems: a housing shortage in the middle-price segment which is forcing renters to have to pay more than €1000 a month. Secondly, there are too many expats in Amsterdam, pushing up the prices. The biggest problem is lack of homes for sale in Amsterdam, De Groot says.