There is a considerable shortage of homes on the Dutch housing market. As a result, fewer homes are being sold for higher prices. And home sales are also happening faster and faster, according to figures released by the Dutch association of realtors NVM, NU.nl reports.
A third of the homes sold in the Netherlands in the second quarter of 2018 were sold above the asking price - the first time ever that overbidding happened so often in the country, according to the Dutch association of realtors NVM. In early 2014 only 5 percent of homes were sold at above asking price, RTL Nieuws reports.
For the first time since the economic crisis, the number of home sales in a quarter fell in the Netherlands. In the last 3 months of 2017 about 61,000 homes were sold, which shows a decrease of about six percent.
This phenomenon is mainly due to the fact that there is a supply shortage with fewer homes listed for sale, the real estate organization NVM announced on Thursday. In the last quarter of 2017 there where 36% fewer houses on the market, reports newspaper NU.
For the first time in ages, the housing prices in Amsterdam declined slightly. In the third quarter, housing prices were 0.5 percent lower than in the second quarter. "Maybe we have reached the top of the market", Sven Heinen, the chairman of Amsterdam real estate association MVA, said to the Volkskrant. This may well be the first sign that the overheated Amsterdam housing market is starting to cool.
Housing prices in the Netherlands were on average 9.7 percent higher in the third quarter than a year ago, realtors association NVM announced. "The housing market is overheated in many places, especially in the cities", NVM chairman Ger Jaarsma said to broadcaster NOS.
The Netherlands again saw an increase in the average rent price during the first half of this year. On average, tenants who moved home paid 10.54 euros per square meter for a rental home in the free sector, 6.9 percent more than last year, according to figures from branch organization for real estate managers VGM NL and the Dutch association of real estate agents NVM, NU.nl reports.
The figures are based on on about 35 thousand free sector rental agreements on an annual basis. This includes only new rental agreements, and not tenants who stayed on in a rented property.
In the past quarter the number of homes sold in the Netherlands decreased for the first time in nearly three years, according to realtors association NVM. The association attributes the decrease to a shortage in available homes on the market. There were 97 thousand existing homes for sale throughout the Netherlands last quarter - the lowest number since 2004, NOS reports.
In April, May and June 56,900 homes were sold in the Netherlands, a decrease of 0.8 percent compared to the same quarter last year.
The overheating Dutch housing market is making it harder for first-time buyers to enter the market, according to realtors' association NVM. The downsides of an improving housing market are becoming more visible, the association said based on its third quarter figures
Declining membership numbers at the CDA, PvdA and VVD is leading to financial problems for the parties. Some of these parties complained about the problem, which is approaching a critical point according to members, at the Ministry of Home Affairs. But so far wit no result