Dutch mortgage applications slip in May as home prices hit record high

Dutch consumers submitted slightly fewer mortgage applications in May, even as housing prices reached a new record, according to data from the Hypotheken Data Netwerk (HDN). About 47,750 mortgage applications were filed in May, a 3 percent decline compared with the same month last year.

At the same time, the average market value of purchased homes rose to a record 535,500 euros, an increase of 7 percent year over year. However, the average mortgage amount rose only slightly, reaching 378,240 euros, up 0.5 percent from last year.

The decline in mortgage applications followed an unusually strong March, which was the second busiest month of the year so far. In that month, many applicants moved earlier than planned, anticipating rising mortgage rates due to geopolitical unrest.

More than six in 10 applications in May were for purchasing a home. Homebuyers submitted 29,750 applications, roughly unchanged from a year earlier. The remaining applications mainly involved existing homeowners increasing their loans.

First-time buyers accounted for a smaller share of the market. Their proportion fell to just under half of all home purchase applications, down from nearly 54 percent in May 2025. HDN noted a particular drop among single applicants and first-time buyers seeking funds for home renovations.