The interest rate for a ten-year mortgage with national mortgage guarantee NHG has fallen below 1 percent for the first time. Investment bank NIBC now offers such a mortgage, called Lot Hypotheken, with an interest rate of 0.99 percent. Until now, the lowest interest rate for a 10-year mortgage with guarantee was 1.04 percent, AD reports.
Rabobank customers with more than 1 million euros in their savings accounts will soon have to pay to keep their money in the bank. The bank is implementing a savings interest rate of -0.5 percent on savings accounts with more than a million euros as of July 1st or private customers, and as of May 1st for business customers, RTL Nieuws reports.
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 debts of investors, home buyers, consumers, companies, and governments are rising to dangerously high levels world wide, Nout Wellink and Hans Hoogevorst warn in the Telegraaf.
Wellink and Hoogevorst were in charge of Dutch central bank DNB and Dutch authority on financial markets AFM respectively during the financial crisis that started in 2008.
According to the two financial experts, there is insufficient clarity on where the risks are, which means that markets could underestimate the rising deficits. They call te banking sector a particular cause of concern.
The number of vacation homes sold in the Netherlands increased by 20 percent last year, according to data the Dutch association of realtors NVM released on Monday. In 2015 the the number of holiday homes sold doubled, NU.nl reports.
According to NVM, the continuing trend can be attributed to the low interest rates. As savings yield hardly anything at the moment, more people choose to invest their money into a second home.
Dutch workers can count on an average 2.5 percent wage increase next year according to international consultancy firm Korn Ferry Hay Group. At 2.5 percent, the Netherlands' workers is getting a bigger increase than the 2.1 percent average for Western Europe, ANP reports.
Korn Ferry hay Group annually studies salary expectations as predicted by personnel departments world wide. This study is based on a massive database containing data on more than 20 million people spread over 25 thousand organizations in 110 countries.
Dutch central bank DNB is deeply concerned about the "profound consequences" the superlow interest rates will have on the entire financial sector, director of Supervision at DNB Jan Sijbrand said on Thursday
The Dutch economy is expected to grow by 2 percent this year, ABN Amro writes in its annual Vision on Sectors. This growth will put a number of sectors at their highest level in years.
Thirty percent more homes were sold in the fourth quarter of 2014 than in the same period the year before. The average price of an abode sold in the Netherlands now stands at 215,000 euros which is 3.5 percent higher than last year and 5 percent higher than during the worst times of the economic crisis, according to NVM brokers in their latest figures.