Thursday, October 29, 2015 - 16:30
Dutch underwater mortgages fall to 1.4 million; double 2009 figures
Statistics Netherlands (CBS) has released its latest figures showing the number of households with a tax mortgage debt higher than the value of their home to be at 1.4 million, double the figures of 2009. Of the 4.3 million households owning their home, 32 percent are underwater, and this number has only risen according to the CBS website. Of all home owners under 45 years, 65 percent live in dwellings worth less than their mortgage debt. Households between 30 and 35 years showed that 75 percent have mortage debt higher than the value of their homes. This means that younger property owners that may be forced to sell will be left with a residual debt. Since the year after the economic crisis ended in 2013, homes are once again being sold and their prices are rising.