Real estate bubble? Tiny Amsterdam apartments top €8,000/m2
The overheating Amsterdam housing market is reaching extreme levels. A 19 m2 apartment on Jan Bernardusstraat is currently listed for sale for 159 thousand euros. That amounts to over 8,300 euros per square meter, RTL Nieuws reports.
The average price per square meter for that neighborhood, on the edge of the city center, is currently between 4 thousand and 5 thousand euros, according to the broadcaster.
The apartment was listed on Funda. The estate agent describes it as a "highly functional" and "perfectly organized city apartment". It is on the fourth floor and consists of 19 m2 living space and a roof terrace of 7 m2. It has one room and one bathroom and comes equipped with a shower, toilet and kitchen.
According to the estate agent, the high price has mostly to do with the size of the apartment and the quality of the workmanship. "The smaller, the higher the relative price per square meter", he said to the broadcaster. He added that the apartment is "insanely beautiful". And the fact that almost no homes are available in the area does not hurt.
The high price does not seem to be scaring people off. A previous offer to buy the apartment fell through because the buyer could not get financing. The apartment was listed on Funda again yesterday and the agent already received a first bid.