The Netherlands among top 10 EU countries with largest house price increase

The Netherlands came in sixth in the list of countries in the European Union with the largest house price increase. Prices of Dutch owner-occupied houses were on average almost 13 percent higher in the second quarter than in the same period last year. This applied to both new and existing houses, Statistics Netherlands (CBS) and the Land Registry calculated.

On average, EU house prices were more than seven percent higher in the second quarter compared to the same quarter in 2020. Estonia was the leader with an increase of more than 16 percent. Denmark, the Czech Republic, Luxembourg and Lithuania were also among the biggest climbers. House prices rose in all EU countries except Cyprus.

In almost half of the European countries the increase was more than ten percent. In the first quarter, this was still the case in five countries.

The pace at which Dutch house prices have been rising has been going on for quite come time, CBS noted in an analysis that looks back at the second quarter. This is due to the fact that the housing supply has shrunk considerably.

There are few houses for sale in the Netherlands, making the housing market very competitive. In total, the number of houses sold fell by more than two percent in the second quarter.