Private sector rent increases slowing down; Up 1.3% in second quarter

The rent increases in the private sector slowed down a bit in the second quarter. According to figures from the housing website Pararius, new tenants paid 1.3 percent more rent on average than in the second quarter of last year. Compared to the first quarter of 2022, rents even decreased a bit.

According to Pararius, tenants paid an average of 17.04 euros per square meter per month in the second quarter of this year. That is slightly higher than the second quarter of last year but lower than the 17.18 euros per square meter new tenants paid in the first quarter of this year.

Pararius’s average rent per square meter is higher than the 15.35 euros realtors association NVM reported earlier this month because, unlike NVM, Pararius also includes upholstered and furnished rentals in its figures. NVM only includes bare rentals.

The rent figures vary widely at a regional level, Pararius said. The rent per square meter fell in Drenthe (-6.4 percent), Friesland (-5.7 percent), Groningen (-1.3 percent), and Utrecht (-1.1 percent). Rents increased the most in Noord-Holland (5.4 percent), Zeeland (5.4 percent), and Zuid-Holland (4.8 percent). Noord-Holland still had the highest rent per square meter in the second quarter, at 21.79 euros per month, mostly due to Amsterdam.

All five of the Netherlands’ largest cities saw above-average rent increases. Eindhoven saw the most significant private sector rent increase at 11.1 percent but is still the “cheapest” large city to rent in at 17.25 euros per square meter per month. Amsterdam is the most expensive at 24.67 euros per square meter, an increase of 10.5 percent.

Private sector rents increased 7.4 percent in Rotterdam (17.37 euros per square meter), 3.4 percent in The Hague (17.30 euros), and 3.4 percent in Utrecht (20.06 euros).