Netherlands residents need to earn twice the average salary to afford average home

It is becoming increasingly difficult for people in the Netherlands with an average income to find an affordable home, De Hypotheker has stated. The mortgage advisor compared the average income to the current housing prices, and this showed that two average incomes are currently needed to purchase an average-sized home.

The average price for an existing home was 472,054 euros in April. Buyers would need a joint annual income of almost 100,000 euros to be able to loan this amount of money, De Hypotheker calculated.

The current average income is 46,500 euros this year, meaning that over two of this level of income would be needed to be able to purchase a home. As a result, single people with an average income are hardly eligible for an affordable home to buy, according to De Hypotheker.

A house cost 334,000 euros five years ago, and a joint income of 71,000 euros was enough to purchase a home, the mortgage advisor stated. Since then, the income necessary to purchase an average-sized home has risen by 40 percent.