In case you moved to the Netherlands with only a suitcase and a dream of proudly owning a basic Dutch dwelling precariously perched on the canal, dangerous information: Dutch home costs are persevering with to skyrocket.
We want we had been exaggerating, however that stats don’t lie: on common, an owner-occupied dwelling purchased in February final yr was 10.4% costlier simply 12 months later.
In case you’re not one for percentages, let’s put that into perspective: if a house was €300,000 in February 2020, that very same dwelling now prices over €330,000, primarily based on final month’s figures. Um, ouch.
The leap is the best rise in nearly 20 years, in response to numbers from the CBS and Land Registry. Housing costs final decreased eight years in the past, with a gentle upward pattern since 2013.
Wait — the housing market was meant to dip throughout corona, proper?
It’s true that initially of the pandemic there have been ideas that the Dutch housing market may drop, leading to extra reasonably priced housing for these out there.
Nevertheless, one yr on and this isn’t the case — and isn’t prone to be anytime quickly. The truth is, the pandemic might have brought about an increase in housing costs, CBS chief economist Peter Hein van Mulligen advised ANP. It seems that folks have much more cash jangling of their pockets once they can’t go on vacation or out to dinner.
So as to add gas to the hearth, mortgage rates of interest stay low and the Dutch housing disaster continues. That is leading to bidding wars for the few homes which are on the market, forcing starters (younger adults who haven’t owned a home earlier than) out of the market.
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Characteristic Picture: Jeroen Stoop/Wikimedia Commons/CC3.0
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