Thirty Amsterdam homes sold for more than €3 million last year

Last year, 30 Amsterdam homes sold for more than 3 million euros and at least 12,000 euros per square meter. This number is expected to increase in the coming years as the price per square meter is rising rapidly in the luxury segment, Parool reports based on research by real estate advisor CBRE.

According to CBRE, Amsterdam is developing into the “luxury hotspot” of the Netherlands, with over 80 percent of the country’s luxury home transactions happening in the Amsterdam region. Amsterdam has a few homes in CBRE’s “ultra-luxury” segment, with prices of at least 19,000 euros per square meter. One home sold for over 25,000 euros per square meter. But the Dutch capital doesn’t yet count any homes in the “exceptional” category, with prices over 40,000 euros per square meter.

The most expensive homes are mainly located in the neighborhood right next to the Vondelpark. There are also several luxury homes in the canal belt, where the priciest homes sold on Keizersgracht and Herengracht. In Zuid, the most expensive housing transaction was on Van Eeghenstraat. All of these homes had a surface area of over 800 square meters.

Last year, the Zuidas joined the list of neighborhoods with homes worth over 3 million euros and at least 12,000 euros per square meter. “What used to be an exclusive office area has developed in recent years into a place where people with a lot of wealth are interested in very luxurious penthouses,” Nikki van Horck of real estate agency Eefje Voogd, which is part of CBRE, told Parool.

According to Van Horck, the growth in luxury homes is partly due to the Brexit forcing many wealthy people to set up a new European base. “Thanks to them, the luxury segment now has a solid foundation. But on top of that, we expect this type of housing to grow due to the strong presence of the technology sector in the city. The number of start-ups and scale-ups has led to an increase in wealthy newcomers, which further stimulates the demand for high-end homes.”

While luxury homes in Amsterdam are expensive, the Dutch capital is nowhere near the top of the market. The price level is considerably higher in London, for example. In Paris, homes below 4 million euros are not considered part of the luxury segment.

The internationally low prices in Amsterdam also offer room for “further value growth,” Van Horck said. “A large-scale intergenerational wealth transfer is expected in the coming years, with baby boomers transferring their wealth to the next generation. This new generation has different expectations and values, which offers opportunities for the luxury market.”

According to Van Horck, Amsterdam is popular among luxury home seekers because of “a combination of high quality of life, modern amenities, culture, and a relaxed living environment.”