Half of over-55s would move into smaller accessible homes but housing shortage remains

Nearly half of homeowners in the Netherlands who are aged 55 and older are interested in moving within the next two years, but a shortage of suitable housing will likely force many of them to stay put. A study released by mortgage advisory De Hypotheker found that those in the over-55 age group have a strong preference for smaller, age-friendly homes, but more than 70 percent expect difficulty finding such properties.

A 52-percent majority of those over 55 years of age prefer a smaller home, while 46 percent seek a home designed for aging residents. Over three-quarters of the 300 survey respondents believe they will be compelled to remain in their current homes longer than desired, further hindering movement within the housing market.

While mortgage applications from the 55-plus demographic increased by 12 percent in the past three months compared to the same period in 2023, their overall share of housing purchases actually fell from 14 percent to 12 percent since last year.

“The demand for life-long homes has been exceeding the supply for some time now,” said Mark de Rijke, commercial director of De Hypotheker. “People aged 55 and over are becoming increasingly active on the housing market but are reaching the limits of their possibilities due to the scarcity of suitable homes.”

De Rijke emphasized the importance of increasing the supply of age-appropriate housing. He cited research from the Economic Institute for Construction, which suggests that increased mobility among older homeowners could trigger a chain reaction, freeing up homes for other buyers, including first-time buyers and those looking to move.

“The number of senior citizens will only increase due to the aging population,” de Rijke said. “It is therefore very important that more suitable homes are built that meet the housing needs of this age group.”

While over-55s accounted for about 12 percent of purchases this year, first-time buyers remain by far the largest group that has oriented itself towards the purchase of a home in the past period. The share of young home buyers up to the age of 35 is around 57 percent.