Prices for newly-built homes rising more slowly than those for existing ones

The prices for newly built homes in the Netherlands are rising much more slowly than those for existing owner-occupied homes, Statistics Netherlands (CBS) reported on Friday. The number of newly built homes sold increased significantly in the second quarter, and they are still, on average, more expensive than existing homes.

The average sales price for a newly built home in the second quarter of 2024 was 479,000 euros, only 0.2 percent more than a year earlier. “The year-on-year development of the prices of newly-built homes has now been below 5 percent increase for the fourth quarter in a row,” CBS said.

Prices for existing owner-occupied homes, on the other hand, increased rapidly. In the second quarter, they were 8.6 percent more expensive than a year earlier, with an average price of 441,000 euros.

The sale of newly built homes is rebounding. In the second quarter, 6,100 new homes were sold, 30 percent more than a quarter earlier and almost 84 percent more than in the second quarter of last year.

“It was the third consecutive quarter that there was a positive year-on-year development in the number of newly built homes sold. Before that, there had been a negative year-on-year development for six quarters in a row.”

The number of existing homes sold also increased by 7.7 percent to 47,900 in the second quarter.