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.
Buying a house is nearly impossible in large parts of the Netherlands for single-income Dutch households who earn an average income of 36 thousand euros, according to an analysis by mortgage adviser De Hypotheker. In the province of Utrecht, average single-income households can only afford 1 percent of the homes that are for sale, RTL Z reports.
More and more owner-occupied homes in the Netherlands are ending up on the rental market. In 2017, almost 100 thousand homes that were not owned by a housing association came to be used as a rental home, Statistics Netherlands reported on Monday.
The number of owner-occupied homes that ended up in the rental market under non-housing association owners, increased significantly over the past years. In 2014 over 62,200 owner-occupied homes became available to rent. In 2017 that number increased to 98,900.
The Dutch people in their twenties of today are hitting milestones later than their peers from a decade ago. Last year's 20-somethings left home later, studied longer, were less likely to have permanent employment, bought their own home later, moved in with a partner later, and also started a family later than the 20-somethings of 2008, Statistics Netherlands reported on Monday.
The average selling price of existing owner-occupied homes in the Netherlands amounted to 302,845 euors in March. That is 7.7 percent higher than in March 2018, and the highest level in Dutch history, Statistics Netherlands and the Land Registry reported on Tuesday.
Compared to the low point on the housing market in June 2013, prices for existing owner-occupied homes were 36.1 percent higher in March. Home prices have been climbing consistently ever since the low point on the market. In May 2018, prices for the first time reached above the record level in August 2008.
The municipality of Amsterdam is working on implementing a rental ban on new owner-occupied homes, in an attempt to prevent new homes from being bought up by investors and then rented out for hefty sums, the municipality said in a press statement. The ban will not only apply to the first buyer, but also to the people who later buy the home.