House prices in the Netherlands at an all time high
June 27th, 2018
According to research by Statistics Netherlands (CBS) and Kadaster, prices for existing resale properties in the Netherlands reached an all-time high in May 2018, surpassing the previous price peak of August 2008.
Rising Dutch house prices
House prices reached a former peak in August 2008, before falling drastically after the economic crisis. The lowest point for house prices was reached in June 2013. At this point in time, average house prices were around 211.000 euros.
Since June 2013, house prices have followed an upward trend and are now more than 28 percent more expensive than they were at their lowest point. Prices have even surpassed the previous peak of August 2008 by 0,6 percent.
In May 2018, 18.237 houses were sold for a total of almost 5,2 billion euros. The price for a house in the Netherlands increased slightly more than in March and April of 2018, coming in at 8,9 percent compared to the same month during the previous year. During May, the price for a house amounted to almost 284.000 euros on average.
Fewer houses sold
During the first five months of 2018, 86.609 houses changed hands. This is 6,5 percent less than the same period in 2017. The decrease in the number of houses sold in the Netherlands can be put down to the increasing prices, which in turn is due to the scarcity of homes available on the Dutch housing market.
According to the Dutch Home Owners Association (VEH), more than a third of Dutch people believe that it will become increasingly difficult to buy a house and more than a quarter feel that it is not a good time to buy. Despite this, more than a third do feel that it is a good time to buy, predominantly because of the low rates for Dutch mortgages.
by Mina Solanki (23 June 2018)