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Key trends and developments in the Dutch housing market

he daffodils and crocuses are out and fresh signs of growth are emerging in the Dutch housing market. If you are looking to buy a dream home in the Netherlands this year, Expat Mortgages chief executive Kenneth Leenders tells you what you need to know!

Interest rates and Housing price

Houses dropped in price in 2023 but the market has now turned and prices are rising. Despite a fluctuating economic landscape, the price of existing homes was 1.8% higher in January 2024 than a year before. The average house price is now €433,000. ING economists predict a significant price hike of between 5% and 8% this year due to wage increases, decreasing mortgage rates and a shortage of housing. So now might be a good time to buy!

Rental Market

The rental market has had a major legal shock. Some landlords who own many properties were accused of imposing unfair rent increases in the “free” housing sector. They raised the rent annually by more than the rate of inflation. Although there are no formal price controls in the free sector, the courts ruled this was unjust and broke European consumer laws. This ruling could have financial repercussions for thousands of tenants who paid excessive rent. It has also triggered legal scrutiny over free market rent rises.

Building a way out of the housing shortage

A group of house builders, provinces, unions and developers has claimed that the next government must invest €3 billion to €5 billion annually to help them reach a target of building 100,000 new homes a year. They say this cash is needed for infrastructure in new residential areas, to boost municipal budgets, abolish corporate tax for housing corporations and reduce stamp duty. Experts say the 2030 building drive is being held up by slow and rigid planning procedures, high land costs and an unfavourable investment climate.

Foundation issues

The Dutch government has been advised to invest billions in subsidising homeowners with sinking houses to stop a national foundations crisis that could cause serious social unrest. The Council for the Environment and Infrastructure says one in 10 homes is at risk. It recommends that, from 2029, houses should only be sold with a foundations label making their state clear. It want the government to invest €12.5 billion in subsidizing 30% of foundation repairs and 90% of investigations, with a help desk, database and national coordinator. For home buyers, this means: ask for proof of the state of the foundations.

Innovative housing solutions

ASML, the chip machinery maker, is fast-tracking the construction of affordable housing units for low- and middle-income families in response to the acute housing shortage around Eindhoven. The first “ASML houses” are set for completion by the end of next year, demonstrating a proactive corporate approach to mitigating local housing crises. Bravo!

Don’t Miss Out on Exclusive Insights!

Stay ahead of the curve with Expat Mortgages! Be sure to mark your calendar for upcoming events like IamExpat Fair and our insightful webinars. Engage with industry experts, gain valuable knowledge, and take proactive steps towards your dream home in the Netherlands.

While you’re at it, why not explore “The Bright Side,” our captivating short-form video series? Delve into key insights, trends, and tips to navigate the Dutch housing market with confidence.

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