Over 130 municipalities keeping investors out of owner-occupied housing market
Over 130 municipalities plan to introduce a self-occupancy obligation to prevent newly built homes from falling into the hands of investors who convert owner-occupied homes into rentals. About the same number also plans to use a new law taking effect on 1 January 2022 to implement purchase protection on exiting homes, the Volkskrant reports based on its own research.
The Volkskrant surveyed 222 of the 352 Dutch municipalities. Almost 60 percent plan to make use of a self-occupancy obligation for newly built houses. About a third of these municipalities have concrete plans to oblige buyers of new homes to live there themselves. More than half are researching conditions for the sale of new homes.
Nearly 60 percent of the surveyed municipalities said they have taken steps towards purchase protection against investors on existing homes after 1 January 2022. This new law allows cities to implement self occupancy obligations on cheap and medium-priced homes in designated areas. Of the four large cities, Amsterdam, The Hague, and Utrecht announced that they'd be implementing this purchase protection in the entire municipality. Rotterdam designated 16 neighborhoods.
These measures are meant to limit the influence of investors on the tight housing market. Ordinary buyers often lose out to investors with their greater financial strength.