The abolishment of stamp duty for Dutch people under 35 in early 2021 increased sales by first-time buyers, the bank added. The Dutch economy, low interest rates and an acute shortage of housing supply had turbocharged property price growth in the country, according to Rabobank in its December 2021 report. House prices on the Amsterdam real estate market rose by 12% in 2021, Filip Nuytemans, co-founder of Dutch real estate investing firm BRXS wrote in a note on 5 October. The prices rebounded to positive growth in 2015 and continued its uptrend over 2021, hitting double digit growth of 11.2% year-over-year ( YoY) in 2021, according to Eurostat. Based on data from the European Union’s statistics office, Eurostat, house prices in the country dropped by 7.9% annually in 20, compared to a 3.3% fall in 2010. House prices in the Netherlands had slumped from 2010 to 2014. Try demo House prices in the Netherlands: Historical context The bubble may burst if construction companies continue to build new homes even after demand has begun to dwindle and sales have slowed. Low mortgage rates, improved welfare and easy access to bank loans are just a few of the factors that can drive up housing demand. The Netherlands’ deteriorating economic outlook, soaring interest rates and high energy prices have started to dent demand in the country’s real estate market.Īs the Dutch economy is set to slow next year and inflation is expected to remain high, will there be a Netherlands house price crash? What is a housing crash?Ī housing market crash is explained as a sharp drop in house prices following a period of high prices.Ī housing market crash often follows a housing bubble, which occurs when the average price of a home is significantly higher than its underlying value, typically due to rising demand and limited supply. However, the pace of house price rises started to slow since July this year, although it is still in the double digits. Property costs in the Netherlands recently recorded their largest-ever quarterly drop – Photo: Romy Arroyo Fernandez / NurPhoto via Getty Imagesīuying an affordable home in the Netherlands has become tougher since 2021, with monthly price increases peaking at 21% in January 2022 year-on-year ( YoY).
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