Number of million-euro homes increased by 243% in five years; Record 223,000 this year

The number of homes in the Netherlands worth more than a million euros has increased explosively in the past few years. Last year, there were a record 223,000 million-euro homes in the country, an increase of 13.5 percent compared to a year ago and a massive 243 percent more than in 2020, according to data agency Calcasa’s annual review. These expensive homes are increasingly apartments and terraced houses.

The average value of a million-euro home is 1.35 million euros - also a record. “It once again shows how things are now on the housing market,” Lennart Rhee of Calcasa told AD. “Many homes of people who have been active in the housing market for a long time have experienced the enormous price development of the past few years. Their current home has become a million-euro home, or they have profited from the surplus value. For first-time buyers, it has become a lot more difficult.”

Because million-euro homes are by no means only freestanding villas any longer. “Nowadays, you also see apartments and simple terraced houses that are worth more than a million. We really couldn’t have imagined that five to ten years ago,” Rhee said.

Amsterdam currently counts no fewer than 23,000 million-euro homes. Only 6 percent are detached houses. 70 percent are apartments. “These won’t all be penthouses,” Rhee told the newspaper. “And they won’t all be located at Vondlepark.”

Detached houses are still the most common type of million-euro homes in 95 percent of Dutch municipalities. But the Calcasa figures show that the bar for hitting the million-euro mark is getting lower and lower. In The Hague, Utrecht, Amstelveen, Haarlem, Leiden, Delft, and Rijswijk, terraced houses are the most common type of million-euro home. The number of semi-detached houses and corner homes is also rapidly increasing in the million-euro list.