Immigrants overbid on Amsterdam housing often, but at a lower rate than Dutch buyers

Immigrants tend to find a home in the Netherlands faster than Dutch homebuyers. That is because they overbid more often than their Dutch counterparts and bid on more homes. But Dutch buyers overbid by higher amounts than home seekers from abroad, according to a study by mortgage advisor Viisi among 927 immigrants and 1,923 Dutch people who recently bought a home.

On average, it took immigrants five months to buy a home, compared to seven months for Dutch buyers. The study found that immigrants bid above asking price more often than Dutch buyers, but ultimately end up paying less for a home. On average, immigrants pay 7.6 percent above the asking price, compared to 9.3 percent for Dutch buyers.

The higher number of overbids among immigrants is partly due to their bidding on more homes than their Dutch competitors. On average, immigrants will bid on three homes before they end up buying one. Among Dutch, it is an average of 2.3 homes.

Immigrants seem to be more driven when buying a home, Vissi researcher Andrew Aziz said. “That is necessary, because unlike Dutch buyers, they often cannot rely on family and generally pay a higher monthly rent.”

But that doesn’t mean that immigrants are bidding on every available home in desperation. The relatively smaller overbids show that they are “making a well-considered choice and ensuring they are well-informed in the process,” Azis said.

The Viisi research also showed that most immigrants who bought a home in the Netherlands intend to stay there long-term. 52 percent plan to stay in the home for over 20 years, a third said at least ten years, and 40 percent expect to move again within six to ten years.