NVM: improved buyer opportunities may stall in 2025

The Dutch housing market offered more opportunities for buyers in the final quarter of 2024 as an increase in homes for sale brought greater dynamism to the market, according to the Nederlandse Vereniging van Makelaars (NVM). However, prospects for 2025 remain uncertain, Lana Gerssen, chair of the NVM residential real estate division, said Thursday.

Approximately 60 percent of homes listed in the fourth quarter of 2024 were sold within the same quarter, NVM data revealed. Gerssen attributed the activity to a surge in the number of homes listed on the market and shorter selling times.

"I think the opportunities for buyers could increase further if we see more dynamism in the housing market. Sixty percent is an excellent figure, but it reflects the rise in homes available for sale and the speed of transactions," Gerssen said during the release of the quarterly data. She emphasized the need for even more homes to be listed in 2025 to sustain this momentum.

The increase in newly built homes in 2024 also contributed to the improved housing market conditions. Gerssen noted that greater availability of new construction allowed existing homeowners to move, freeing up more existing properties for sale.

While real estate agents anticipate a short-term boost in new construction, the NVM remains cautious about whether 2025 will see more newly built homes compared to last year. Broader macroeconomic factors, such as mortgage interest rates, are expected to play a significant role in shaping the housing market’s trajectory.

First-time buyers had a particularly strong year in 2024. According to research by NVM subsidiary brainbay, 64,000 homes were purchased by first-time buyers—5,000 more than in 2023 and the highest number in recent years. These buyers primarily opted for ground-level homes.

Brainbay researcher Rogier Weck pointed to the increased supply of apartments as a key factor benefiting first-time buyers. Investors also sold more rental apartments due to legislative changes that made renting out homes less attractive. The process, known as "uitponden," involves landlords selling rental properties when tenant contracts expire.

Weck noted that the trend of uitponden was favorable for first-time buyers. Gerssen predicted that this dynamic could continue into 2025, with more rental properties likely to be sold.

Changes to rental laws, which have discouraged landlords from renewing leases, played a significant role in boosting the number of homes available for purchase. Gerssen highlighted that further legislative shifts and economic conditions, including the trajectory of mortgage rates, would likely influence the housing market in 2025.