Approximately half of all homeowners in the Netherlands believe the value of Dutch real estate is set to decrease as a result of the ongoing coronavirus outbreak, a new survey by the consumer protection group Vereniging Eigen Huis reveals.
Housing corporations want to build 10 thousand temporary homes per year in the fight against the housing shortage facing the Netherlands. But to achieve this goal, procedures to build these homes must become shorter, more locations must be made available, and land prices must be adjusted, said Aedes, the umbrella organization for housing corporations, NU.nl reports.
In an effort to relieve housing pressure in Amsterdam, ruling parties CDA and D66 want to build thousands of new homes in Almere, as well as a tunnel or bridge to improve the connection to the capital. They want Almere Pampus to consist of 25 thousand homes that can house between 50 thousand and 60 thousand people, RTL Nieuws reports.
The average selling price of an owner-occupied home in the Netherlands topped 300 thousand euros for the first time ever. Existing owner-occupied homes were most expensive in Bloemendaal at 832 thousand euros on average, and cheapest in Delfzijl at 155 thousand euros on average, according to figures released by Statistics Netherlands and the Land Registry.
Nearly half of tenants in the Netherlands don't think they will ever be able to buy a home, according to an international study by ING among nearly 3 thousand tenants who have never owned a home. 48 percent of Dutch tenants think they'll never buy, compared to the European average of 38 percent, RTL Nieuws reports.
Tenants in the Netherlands who think they will eventually buy a house, largely expect to only do so later in life. Only 6 percent think they will buy a house before they turn 30, and another 6 percent think they'll do so by the time they're 34.
For the first time in years, the number of owner-occupied homes in Amsterdam decreased in 2019. Despite 1,400 new owner-occupied homes being built last year, the total number of owner-occupied homes in the Dutch capital decreased from 139,300 in 2017 to 136,200 in 2019, according to figures the municipality released, Het Parool reports.
Housing alderman Laurens Ivens blames the decrease on investors and private individuals buying houses to rent out.
Housing corporations are still failing to build enough homes, according to a report by the Housing Corporation Authority, part of the Human Environment and Transport Inspectorate. The "State of the corporation sector" report showed on Friday that they only realized 62 percent of their annual construction plans in 2017 and 2018, NOS reports.
The report did not give a reason for these failed plans, but mentioned a number of possibilities. "Too optimistic schedules, setbacks in tenders, rapid construction costs increases and other causes can play a role," the Authority said.
Amsterdam's rule that allows residents to rent their homes to tourists for up to 30 days a year without a permit, as long as they report the rental to the municipality, is in violation of the Housing Act, the Council of State said in a ruling on Wednesday. Amsterdam is not allowed to exempt residents from the prohibition on renting a home to tourists without a permit, the Council of State said.
Last year, nearly 71 thousand new homes were built and delivered in the Netherlands, over 6 percent more than in 2018 and the biggest increase in a decade, Statistics Netherlands reported on Wednesday. The total housing stock in the Netherlands grew by 0.9 percent last year.
A project developer divided four Amsterdam apartments in half and are now selling the eight half-apartments for between 275 thousand euros and 312,500 euros, De Westkrant discovered based on advertisements on property site Funda. The apartments, located on Kortenaerstraat in the popular De Baarsjes district, are 31 square meters or less in size.
It is becoming increasingly difficult to find an affordable home in the Netherlands. A massive three quarters of the home supply in the Netherlands now costs more than 250 thousand euros, unaffordable for households with an income below 55 thousand euros per year, according Dynamis analyst Rogier Weck based on figures for the last quarter of 2019.
The price increases on the housing market in the Netherlands will level off this year, but prices will still rise, according to analysts at ABN Amro. They predict that home prices will increase by 4 percent in 2020, compared to last year's 7 percent increase, NU.nl reports.
The end of the housing shortage in the Netherlands is far from over, realtors' association NVM said based on sales figures for 2019. The number of people who cannot find the home they are looking for will only increase in the coming period, the NVM expects, NOS and NU.nl report.
The average home seeker currently has a choice of 2.8 homes within their budget. People with a budget between 160 thousand and 260 thousand are worst off. In large parts of the country, the can chose between less than two homes.
The position of people with disabilities in the Netherlands is deteriorating. Over the past three years, it has become more difficult for people with disabilities to fully participate in society, according to a report commissioned by the UN Convention Alliance, a collaboration of five organizations that advocate for people with disabilities, which will be handed to the United Nations Human Rights Committee in Geneva on Tuesday, Trouw reports.
Single earners with a median income have less and less chance of buying a home in the Netherlands. Single income households with a median income of 32,700 this year can afford a home that costs 150 thousand euros maximum, according to De Hypotheker. Only 4.3 percent of homes currently for sale in the Netherlands have an asking price of 150 thousand euros or less, compared to 7.5 percent last year, NOS reports.
Last year the median household in the Netherlands had 38,400 euros in assets, 10 thousand euros more than the year before. The increase is mainly due to the increasing home values in the country, Statistics Netherlands reported on Monday.
The median household when it comes to wealth is when you line up all households in the Netherlands from least assets to most and pick the one exactly in the middle. That means that half of households have more in assets and half less than the median household.
Dutch between the ages of 20 and 45 who rent a home in the free sector, pay so much on housing costs that they can't afford to build up savings, Rabobank researchers Nic Vrieselaar and Carlijn Prins concluded after surveying over 10 thousand customers that fall in this group, AD reports.
Last year 13 thousand homes were created by transforming existing buildings, such as vacant offices, schools and shops. That is nearly 14 percent of all the new homes that were built last year, Statistics Netherlands reported on Wednesday. Amsterdam created most of these 'transformation homes' in the past six years, followed by Eindhoven and The Hague.
Rent increases are leveling off in the Netherlands, particularly in the large cities, according to the newest rent monitor by housing platform Pararius. Nationwide, the average rent per square meter increased by 3.6 percent in the third quarter, compared to the same quarter last year. Utrecht is the only of the four large cities where rents increased by more than 5 percent. In Rotterdam, rent prices even decreased.
Dutch central bank DNB currently considers the situation on the Dutch housing market the biggest threat to financial stability in the Netherlands, according to the DNB's six-monthly Overview of Financial Stability. The "systemic risk in the housing market" increased significantly in the past years and a sudden fall in house prices could be disastrous for households and banks, the regulator said, RTL Nieuws reports.
The prices for existing homes in the Netherlands continue to rise. In the third quarter, the average price for an existing home was 7.2 percent higher than the same quarter last year. And after half a year of the housing supply seeming to stabilize, the number of homes available for sale saw a significant decrease in the third quarter, according to figures from the Dutch association of realtors NVM, NOS reports.
The premium for the National Mortgage Guarantee (NHG) is decreasing from 0.9 percent to 0.7 percent of the total home-loan beginning next year, resulting in savings of up to 620 euros for eligible buyers. The maximum price for homes eligible for the NHG is also increasing, from 290 thousand euros this year to 310 thousand euros next year, Minister Kasja Ollongren of Home Affairs announced in a letter to parliament.
Amsterdam is officially dealing with a bubble on the housing market, according to Swiss bank UBS. Amsterdam is tied with Hong Kong for the third most likely city to be experiencing a housing market bubble. Only Munich and Toronto were deemed at greater risk, UBS said in the report released on Monday.
UBS defines a bubble as "a substantial and sustained mispricing of an asset, the existence of which cannot be proven unless it bursts."
Last year more Dutch were dissatisfied with the homes they live in than the years before, Statistics Netherlands said on Friday. Especially tenants were less happy with their homes, but homeowners were also more dissatisfied. Though the vast majority of Dutch are happy with the home they live in.