Amsterdam real estate up 20 percent in 2017; Netherlands homes up 9 pct
The Dutch housing market continues to recover and the recovery can now also be seen in areas outside the big cities and the Randstad, according to quarterly figures by realtors association NVM. Amsterdam is still in the lead when it comes to housing prices. The average price of a home in the Dutch capital was 20 percent higher in the first quarter of this year, compared to the same quarter last year. The national average home price increased by almost 9 percent, the Volkskrant reports.
The number of existing homes sold was 10 percent higher in the first quarter compared to a year ago. A total of 50 thousand homes changed ownership in the first quarter of 2017. Over the past 12 months, 219 thousand homes were sold in the Netherlands.
Over the past year the average price of a home in the Netherlands increased 8.8 percent. Compared to the last quarter of 2016, housing prices were 1.1 percent higher in the first quarter of this year. The average transaction price of a home sold was 248 thousand euros.
Housing prices increased almost everywhere in the Netherlands. Amsterdam increased the most with 20 percent compared to the first quarter of last year. Regions around Amsterdam and Utrecht also saw big housing price increases. As did big cities like Enschede, Nijmegen and Den Bosch. In Zeeland-Flaanders and the regions in the north of the Netherlands, house prices showed either very little rise or even a slight drop.
Asking prices for homes also increased almost everywhere in the Netherlands. The national average asking price for a home is now 311 thousand euros, nearly 6 percent higher than a year ago. Here too Amsterdam is in the lead, with a 31 percent increase in asking price. Regions in Amsterdam's vicinity also saw sharp increases. Haarlem increased by 24 percent, Waterland by 14 percent, Zaandam by 14 percent and Almere by 13 percent. Other places that saw significant asking price increases are Leiden (+16%) and Groningen (+12%).
The time between a home being listed as for sale and being sold fell sharply in the past three months. In the first quarter of this year, it took an average of 77 days to sell a home, 31 days less than in the same quarter last year. Over 60 percent of homes were sold within 90 days.
On the downside, the realtors saw a decrease in the number of homes listed for sale. During the first quarter there were about 30 percent fewer homes listed for sale than a year ago. The number of sales also decreased in the "overheated markets". Amsterdam saw a decrease of 19 percent. Groningen's sales dropped 11 percent. Haarlem, Utrecht and Amersfoort each saw an 8 percent decrease in house sales. There is huge demand, but too few homes are being put on sale.
Regions outside the overheated areas, on the other hand, saw a massive increase in home sales. Home sales in Uden increased 48 percent. Ruurlo Eibergen saw a 42 percent increase. And Bergen op Zoom, Doetinchem and Kop van Noord-Holland all increased 40 percent.