Higher taxes and stricter rent rules: Many small landlords in Amsterdam want to get rid of their homes. Zuid’s landlord wants to buy out his tenants because an empty flat is worth more in the buyer’s market. “I give them this money, but it must be from my pension.”

Not so long ago, trees grew to the sky in the Amsterdam real estate market. Home and rent prices have skyrocketed, and investing in real estate seemed to many to be a safe investment. Individuals also wanted to benefit: around 33,000 homes in Amsterdam are rented by people who own one to four homes.

It seems that time has expired. With higher taxes and the arrival of stricter rules for private rents, there is a lot to gain as a landlord. Smaller Amsterdam private landlords want to sell.

pension

Dirk van Hees has bought three houses in the south of Amsterdam. “I did when I sold my company. The corporate office was in Stadionpleinbuurt, which is also where I live. It seemed like a smart investment for my pension.”

However, due to the changing tax and rental rules, this plan can no longer be implemented, he says. “So I’m going to sell my house. And preferably without tenants, because that makes the house more valuable.”

“stay away from premium”

But his tenants are trapped. Buying their own rented home exceeds their budget. “And they are constantly being outsold by other owner-occupied homes.” It’s also hard to find another rental home: As the Van Hees and many other landlords sell their homes, there are fewer and fewer rentals available.

Van Hees’ premium oprot can help renters in the owner-occupied market. “But if you are outbid for €40,000, then of course €30,000 is not enough.” Van Hees must be laughing – he knows his tenants are betting pretty hard. “I give them this money, but I have to do it from my pension.”

Lawsuits

Van Hess and several other owners are also stuck. “For years, the government has encouraged investment in real estate,” says Joost Schmitz of the Actors’ Association (VEB). “Now the game is being changed halfway through.” Unfair, says Schmitz. VEB wants to challenge the higher taxes in court.

And the stricter point system for setting maximum rents could also count on opposition. Estate lawyer Hoyb Helkema says Minister Hugo de Jonge’s plans be in conflict with the European Convention on Human Rights. Helkema says the minister has “little interest” in the landlord’s interests, and that the plans will lead to a shortage of rental properties.