Increased supply slowed down home price development in Q3; Prices up 4.8% year-on-year

The supply of homes in the Dutch housing market was higher in the third quarter, thanks largely to landlords selling off rental properties that have become less profitable to let out. The higher supply dampened price increases, the Dutch association for realtors NVM reported on Thursday. The average NVM home sold for €496,000 in the third quarter, an increase of 4.8% compared to Q3 of 2024. Compared to the previous quarter, home prices even fell by 0.9%.

The housing market is still very tight, with demand far outstripping supply. Prices will therefore likely continue to increase. According to Lana Gerssen of the NVM, the figures show that “construction production is lagging, the rental market is stagnating, and affordability is under increasing pressure.”

With three weeks to go before the parliamentary election, she urged politicians to do more than make unrealistic promises. “I advocate for realism, direction, and results; the Housing market doesn’t need promises, but policies that work,” Gerssen said. “We still have a shortage of around 400,000 homes. This clearly impacts the opportunities for all home seekers.”

NVM realtors sold 41,800 existing homes in the third quarter of 2025, over 19% more than in the same period last year. The realtors attribute the increase largely to landlords selling their rentals into the owner-occupied market, after rent regulation and tax changes made them less profitable to rent out.

These rentals are often smaller apartments of lower quality and with a lower energy label. As a result, the average transaction price of former rentals is €90,000 lower than the average of all homes sold. “The price dampening effect of these properties for the Netherlands as a whole is at least €10.000, or approximately 2%.”

Due to the increased supply, the average number of viewings per property fell from 11.2 last year to 9.6 in the past quarter. The number of bids decreased from an average of 4.2 to 3.5 per property. “There is simply more choice with more homes on the market,” the NVM said. The increased supply was not enough to meet the demand, and most homes sold quickly, on average, within 29 days. “A remarkable 81% of newly listed homes found a buyer within three months,” the realtors said.

In the past, significant home price increases mainly occurred in the western Netherlands. In the past quarter, this was different. The highest price increase in the Randstad was 6% in the Groot-Rijnmond region. In Amsterdam, there was a small price decrease (-0.3 percent), like the previous quarter. According to the NVM, this is also due to the sell-off of former rentals.

The largest price increases in Q3 were measured in the northern provinces, with increases up to 12% year-on-year. Though the realtors noted that this was based on a relatively small number of transactions. Zeeuws-Vlaanderen also saw significant price increases of up to 11 percent year-on-year.

The new-construction market was stable in the third quarter. NVM realtors sold 6,950 new homes, comparable to previous quarters. The average sales price was €491,000, a 5% increase compared to Q3 of 2024. “Despite a positive sentiment, new home sales figures are not growing due to the limited supply, which is partly out of step with consumer demand.”