Housing prices in Amsterdam higher than ever
It’s not a secret that house prices in Amsterdam are not a joke and buying a house is almost unaffordable for the average household.
The latest figures of Statistics Netherlands (CBS) show that in Q3 2019, the average home in Amsterdam cost above 500.000 euros.
Compared to the average price of a house nationwide, this is a difference of almost 200.000 euros as the average price of a home in Q3 2019 was 314.000 euros.
Why are prices increasing?
According to a spokesperson from the estate agent association NVM one of the reasons could be the types of houses being sold as well as their location. “previously, we saw prices stagnating because in that period all of a sudden many houses were sold outside of the city centre. Now, the exact opposite might be the case”
However, opinions seems to differ as some think there could be several reasons for the surge in house prices. Some of the reasons mentioned are population growth and investors seeing opportunities in the scarcity of the housing market. A third reasons could of course be, the low interest rates, making it easier for people to borrow more for mortgages, causing people to offer more than asking price. Nevertheless, just 30% of the houses in Amsterdam are resale properties in comparison to 57% in other parts of the country.
Expat Management Group’s relocation team assists expats with finding short-term and long-term accomodation in and around Amsterdam and has contacts with mortgage advisers. If interested, please contact firstname.lastname@example.org for more information.
- 27 February 2020
- Posted by: Expat Management Group
- Category: Insights