Buyers have more options in Dutch housing market, but waiting for prices to fall further

Home buyers in the Netherlands have more to choose from, but many seem to be dithering on buying a home. They’re waiting for prices to fall further, according to analysts at housing site Funda, the Volkskrant reports.

After years of sellers having all the say in the Dutch housing market, lower home prices and a bigger offer now give buyers more options. Funda currently has over 113,000 homes listed for sale, compared to less than 75,000 eighteen months ago. And 39 percent of homes are currently selling at above asking price. Last year, overbidding was the norm, and 82 percent of homes sold for more than the seller asked for.

And yet, many home seekers are waiting to buy. The majority of home seekers Funda surveyed expect home prices to fall further or remain about the same in the near future. More than half of first-time buyers told Funda they’re not buying now because they hope to pay less in a few months.

Funda can see this hesitance reflected in its figures. At the peak of the housing market in mid-2021, realtors got about 25 potential buyers per listing. Now, that almost halved to an average of 13. The number of contact requests is only increasing for homes in the lower price segment of the housing market, with an asking price between 300,000 and 400,000 euros.