Ten years after the outbreak of the credit crisis, the average selling prices of existing owner-occupied homes in the Netherlands are back on the level of 2008. Though the recovery can mainly be seen in the Randstad area. Prices in the big cities are now far above the 2008 level. But in many places outside the Randstad, house prices are still lower than before the crisis, Statistics Netherlands reported on Wednesday.
Over a quarter of homes sold in the second quarter of this year, were sold for or above the asking price, according to a study by Calcasa. This combined with skyrocketing housing prices, and an increase in house sales, indicates that the housing market in the Netherlands is overheating, the company, which is focused on automated valuation and statistical analysis of real estate, concluded, NU.nl reports.
After the outbreak of the credit crisis in 2008, workers in the Netherlands are working longer hours for lower compensation, according to Statistics Netherlands on Wednesday. This trend can partly be attributed to the relatively high unemployment rate and the growing number of flexible and self-employed workers.
The new CEO of Rabobank says that the underlying cause for the success with which the bank stood through the financial crisis, was the Libor scandal.
Economists from the Financieele Dagblad warn that preventative measures need to be taken to avoid a possible third recession. After the credit crisis and the debt crisis, there is a fear that The Netherlands could be headed for a triple-dip recession, the Algemeen Dagblad reports.
ING has announced that it is brining its insurance branch to the Amsterdam stock exchange in an IPO move. This may take place within two months, the NOS reports.
The budget deficit and national debt have gone down once more from previous estimates, according to the Spring memorandum, the interim overview detailing the implementation of the budget from this year, Het Parool reports.