Housing prices still rising, fewer homes sold

The number of homes sold in the Netherlands in May decreased compared to a year ago. But those that did sell, sold at a higher price, Statistics Netherlands reported on Monday. Home prices increased by 7.7 percent from 303,240 euros in May 2019 to a record high of 333,000 euros in May this year.

According to Statistics Netherlands, home prices in the country were at their highest level ever in May 2020. Compared to the housing market's low in June 2013, home prices were 47.8 percent higher last month.

The number of homes sold in the country is decreasing. Last month the Land Registry registered 347 homes sold, 6.9 percent less than in May 2019. Though the total number of homes sold in the first five months of this year is still 5 percent higher than the same period last year.

According to the stats office, the effects of the coronavirus crisis on home sales and prices are not yet visible. This is because these figures are based on notary figures, and it takes time for a home sale to be completed. The purchase contracts that were completed in May were largely concluded before the coronavirus pandemic hit the Netherlands.