Amsterdam home prices jump 18 pct. in two years
Prices of homes in the capital, Amsterdam, have risen by 18 percent in the past two years. Amsterdam is also the only one of large cities in the Netherlands to be above pre-crisis level in the number of homes sold - in the first three quarters of this year 18 percent more houses were sold than in the same period in 2017
This is according to an analysis done by ING Economic Bureau. According to the bank, if this growth in home prices continues, Amsterdam homes will be more expensive next year than before the crisis. Currently home prices are only 3 percent below pre-crisis levels
Power over the past two years has shifted exclusively to the seller of property in the city, asking and receiving more than the property book value. This is apparent especially in the popular districts within the ring. The city’s living environment is another attraction to both locals and tourists, offering high-skilled employment opportunities alongside the development of its housing supply.
Municipalities are predicting a 1.2 percent (5,000 unit) increase in its housing stock by the end of 2018, as halted projects are resumed after the crisis. Additional pressure has been placed upon the city through the Airbnb operation that allows owners to make money from their homes, effectively making it better to keep one’s home than to sell.