Dutch housing market became even tighter in second quarter

More viewings, more frequent overbidding, and homes that are on the market for shorter and shorter periods. According to Makelaarsland, the Dutch housing market has become even tighter in the past quarter. The real estate agency reported this based on its own figures for April to June.

The number of viewings went “through the roof” last quarter, said Makelaarsland. While a home was viewed an average of 9.5 times in the first quarter of this year, it increased to 10.8 times in the second quarter. The number of viewings in the months of April to June was also 45 percent higher than in the same period a year earlier.

“It is a good thing for home sellers that a huge number of viewings are planned, but for home seekers, it remains a tough competition,” said director Ivor Brevé of Makelaarsland.

The struggle is the toughest in large cities. The number of home viewings in Amsterdam, Rotterdam, and Utrecht was 82 percent higher in June than in the same month a year earlier. Moreover, potential buyers must act quickly. “In 2024, it is extremely difficult to obtain a house in these popular cities. Sometimes, the viewing slots are all taken on the same day a property is listed on Funda,” Brevé explained.

Once a home seeker has found their dream home, they often have to outbid to buy it. 77 percent of all bids in June were above the asking price, 23 percent below it. According to the real estate organization, that ratio was almost reversed at the beginning of last year.

Homes also spend less time on the market. In January, the average was 75 days, and in June, it was only 43 days. According to Makelaarsland, that is the shortest lead time since the end of 2022.

Home prices in the Netherlands reached a new record in May. Buyers had to pay an average of 445,430 euros for an existing owner-occupied home, Statistics Netherlands (CBS) reported last week. That was 1.8 percent more than the previous peak in July 2022.