Rental prices Amsterdam back to levels of 2015 – Less expats
Thanks to the Covid-crisis the rental prices of homes are decreasing. Especially among furnished apartments, popular among expats, there is less demand and therefore lower rental prices.
Per square meter, tenants paid 2,4% less rent in the first quarter of 2021, compared to a year before.
For furnished apartments, new tenants paid approximately €18,23 per square meter per month. This is 6,7% less than in 2020.
For bare apartments, without furniture, curtains and flooring, the prices did increase. New tenants paid €12,42 per square meter per month, which is 2% more than in the same quarter in 2020. This does refer to an average for the Netherlands. Researchers have found that in the five largest cities (Amsterdam, Rotterdam, Den Haag, Utrecht and Eindhoven) the average rental prices have decreased. These figures are based on data from 13890 homes that were rented in the first quarter of 2021 via Pararius.
Largest drop in Amsterdam since 2011
In Amsterdam the price per m² is the highest in the Netherlands, despite this being 7,4% lower than the previous year: €21,76 per m² per month.
Since the first sets of data from Pararius in 2011, such a large rental price drop has not been measured in the capital of the Netherlands. It is now almost 6 years ago (third quarter of 2015) since these pricing levels were seen in Amsterdam.
Real Estate Agents offering furnished apartments/houses strongly notice that it takes longer to find suitable tenants for these apartments, compared to one year ago.
These homes are often centrally located, relatively large and in a higher pricing-segment. Agents see that the demand from international clients has strongly decreased since the start of the Covid-crisis. The longer an apartment is vacant, the more prices will drop in order to attract potential tenants.
The city center of Amsterdam remains the most expensive for renting an apartment in the Netherlands. One would pay €23,51 per m² per month to rent an apartment here.
Other major cities
In Utrecht the rental prices have decreased by 0,7% to €17,78 per m² per month.
Living in Eindhoven is even cheaper: there one would pay €14,08 per m² per month. In Rotterdam €15,20 and Den Haag €15,95.
Naturally within these cities there is a difference per neighbourhood. For example in the Rotterdam district of Hilligersberg-Schiebroek there has been a decrease by 12,8%, but in Kralingen-Crooswijk and increase by 3,8%.
Our Relocation Team is happy to assist with tips and advice on renting in certain cities/areas, and rental budgets. Please feel free to reach out to us for assistance with your Home Search in the Netherlands via firstname.lastname@example.org.
- 29 April 2021
- Posted by: Expat Management Group
- Category: Insights