First time buyers more active on Dutch housing market as landlords eye an exit

First-time buyers are increasingly active in the Dutch housing market as landlords and investors sell off properties, particularly in major cities like Amsterdam, Utrecht, and Eindhoven. In 2024, the total number of home sales increased significantly compared to the previous year, driven by a surge in transactions by first-time buyers, as reported by Kadaster.

According to data from the Kadaster, 206,500 homes were sold in 2024, a 13 percent increase from the 182,400 sales recorded in 2023. The final quarter of 2024 was particularly active, with over 59,900 transactions—a 19 percent rise from the same period in 2023 and the highest quarterly total since 2020. Compared to the third quarter of 2024, transactions rose by 11 percent.

The share of first-time buyers rose to nearly 47 percent in the fourth quarter of 2024, up from 43.5 percent during the same period in 2023. Throughout 2024, their share reached 46 percent, compared to 43 percent in 2023 and 39 percent in 2022. First-time buyers purchased nearly 28,000 homes in the last quarter of 2024, representing a 27.5 percent increase from the same quarter a year earlier.

“Investors selling properties, especially in larger cities, are providing opportunities for first-time buyers. These are often affordable homes in high demand,” said the Kadaster in its quarterly housing report.

In cities such as Amsterdam, Eindhoven, and Utrecht, first-time buyers accounted for more than 60 percent of all home purchases during the fourth quarter of 2024. Amsterdam had the highest share at 67 percent, followed by Eindhoven and Utrecht at 65 percent each. Across the G4 cities (Amsterdam, Rotterdam, Utrecht, and The Hague), the share of first-time buyers rose from 60.5 percent in Q4 2023 to nearly 65.5 percent in Q4 2024.

In the G40 cities, which include mid-sized municipalities, first-time buyers’ share increased from 47 percent to nearly 51 percent over the same period. In other areas of the Netherlands, the share rose from 37 to 39 percent .

“Investors are selling at high rates in urban areas, creating a unique window for young buyers to enter the market,” said housing market expert Paul de Vries.

Data from the Kadaster also shows that the most common type of homes sold to first-time buyers in Q4 2024 were apartments, while two-story detached homes were the least sold property type.

Price trends

The average home price in the fourth quarter of 2024 was 462,000 euros, up from 423,000 euros a year earlier. However, price increases varied between buyer groups and regions.

First-time buyers in the G4 cities paid an average of 444,000 euros in the last quarter, a 5 percent increase from Q4 2023. Meanwhile, repeat buyers in the G4 paid an average of 645,000 euros, marking a 12 percent increase. Utrecht and The Hague saw the sharpest price increases among repeat buyers.

In other parts of the Netherlands, first-time buyers paid an average of 360,000 euros, reflecting a 9 percent year-over-year increase, while repeat buyers paid 522,000 euros, up 11 percent from a year earlier.

Despite annual increases, average home prices in the G4 cities declined slightly between the third and fourth quarters of 2024, due to a greater supply of relatively affordable homes entering the market.

Across the Netherlands, 303 of the country’s 342 municipalities saw higher average home prices in Q4 2024 compared to the same period in 2023. In 213 municipalities, prices were also higher compared to Q3 2024.

The steepest price increases were observed in more expensive municipalities, where average home prices exceeded 550,000 euros. In these areas, prices rose nearly 15 percent compared to a year earlier. By contrast, in municipalities with average prices below 300,000 euros, prices rose by just over 6 percent.

The Kadaster attributed much of the market shift to investor activity. As landlords exit the market, they are selling properties to first-time buyers. This trend has been particularly evident in the G4 cities, where investors typically own and sell smaller, affordable homes.

“First-time buyers are benefiting from the increased availability of properties that would otherwise remain in investors’ portfolios,” said De Vries.