Amsterdam: From hot city to hot zone
The number of citizens in Amsterdam is decreasing, having a major impact on the economy.
Due to the coronavirus outbreak, the population size of Amsterdam has stopped increasing. Since 2008, the city has been growing with 10.000 citizens per year, and would be a real metropole by 2035, counting one million inhabitants. Since March this year, however, the city’s population has decreased by almost 4.000 Amsterdammers (Amsterdam citizens).
Amsterdam was, together with Rotterdam, one of the biggest COVID-19 hot zones in the country. This, together with the hot weather and many people being out on the streets, made the city unattractive for those who want to maintain the 1,5-meter distance.
The decrease in citizens can largely be explained by expats that cannot find jobs and students that are not travelling in. Whereas before, these two groups in particular were a main driving force behind Amsterdam’s population growth. Companies like Booking, who used to employ a lot of expats, are now forced to lay off its employees. Nevertheless, experts do not expect this decrease to be the end of Amsterdam’s popularity but expect youngsters and talent to keep moving to the capital city of the Netherlands.
For now, the first signs of cooling are already visible: rents are decreasing, pricing increases of owner-occupied homes are levelling off, although it will take a while before Amsterdam becomes truly affordable.
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- 12 September 2020
- Posted by: Expat Management Group
- Category: Insights