March 26, 2023

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A house in the Netherlands became 313 euros a day more expensive last quarter |  living

A house in the Netherlands became 313 euros a day more expensive last quarter | living

The value of a home in the Netherlands averaged 28,500 euros during the quarter, which drops to around 313 euros a day. This is amazing, reports Taxatiebedrijf Calcasa. In 2020, the national average increase in housing prices was no higher than €100 per day.

Calcasa sees big differences for each municipality, but the average home price has gone up everywhere in the past quarter by no less than average annual gross income. This brings the average home price to more than 400,000 euros for the first time, from a total of 417 thousand euros.

The fastest-rising homes are in Flevoland, where the median home price is up about 21.3 percent. Homes in Utrecht became the most expensive relative to each other among the Big Four, with an increase of 20.3 percent.

At the municipal level, homeowners’ wealth in Blaricum, Bloemendale, and Larraine increased the fastest. Calexa calculated that this involves price increases of over €800 per day. In Bloemendaal, where about 23,000 people live, that means the average home price has risen to more than 1 million euros, to 1,016,000 euros.

In the municipality of Blumendale, the average cost of homes was about 870 euros per day. As a result, the median home price has soared to over a million. © Hollandse Hoogte / ANP

The rapid rise in house prices is partly due to a housing shortage in the Netherlands. In addition, historically low interest rates drive the value of homes even more. On the other hand, this ensures that home buyers can get higher mortgages. On the other hand, investors are increasingly looking to housing as an investment to generate a return, because bonds, for example, no longer yield much.

There are also warnings of overheating. Last week, the Dutch Authority for Financial Markets (AFM) indicated that first-time buyers in the housing market are taking increasingly greater risks in order to be able to buy a home, for example by taking on high debt and not agreeing to a financing clause. According to the regulator, this makes the Dutch economy sensitive to a sudden shift in sentiment, for example if interest rates rise again, which could lead to lower house prices.

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