Dutch house prices up 20% record
Prices in the overheated Dutch real estate market continue to soar. In the second quarter of this year, buyers paid an average of 410,000 euros for a house, a record increase of almost 20% compared to the same quarter last year, the Dutch Association of Estate Agents said on Thursday. .
“The numbers we are presenting today once again exceed previous results,” said NVM President Onno Hoes. âThe supply is still drying up and buyers are doing all they can to get their hands on a home. The housing market is completely crazy and until the political agenda matches reality, the market will remain as tight as it is now. ”
Apartments were the cheapest to buy at 344,000 euros on average, a 20% increase. Single-family homes are the most expensive with an average of 618 thousand euros, an increase of 23.4%.
NVM real estate agents sold over 34,000 homes in the second quarter, down 12% from the second quarter of 2020. NVM attributes this to the low supply of homes in the market. As of the middle of the second quarter of 2021, fewer than 15,500 homes were for sale – the lowest number since NVM started tracking in 1995 and 53% less than a year earlier.
On average, buyers had a choice of fewer than two homes in the last quarter. And they had to act quickly – homes were only on the market for an average of 24 days before they were sold. It is also a new record. 78 percent of homes sold in the second quarter were sold above asking price. On average, buyers paid 8.2% more than the home’s selling price.
The coronavirus pandemic and the lockdowns that accompany it put more emphasis on the value of the fun of living, and this is seen in regional differences in house price increases, NVM said. More and more buyers have moved to rural areas, resulting in the biggest increase in house prices in the north of the Netherlands.
Oost-Friesland, the summit of Overijssel and Groningen have all seen their prices rise by up to 30%. House price increases in The Hague, Rotterdam and Utrecht have been less than around 20%. And Amsterdam saw an even smaller increase at 14%.