The Rise and Fall of Rent Prices in the Netherlands
The rental market is fluctuating! There appears to be an overall big increase in rental prices in the private sector and the number of available homes for new tenants has decreased. Let’s explore the details of these changes. 📈🏠
- 25 January 2024
- Posted by: Expat Management Group
- Category: Insights
Data from Pararius indicates a significant increase in rents in the private sector, registering an average increase of 8.5 percent in just one year. As of the fourth quarter, the average monthly rent landed at 18.01 euros per square meter translating to around 1350 euros for a 75-square-meter home. A significant jump from 1244 euros the year before.
There are major differences between regions, with Rotterdam experiencing the fastest rise in rents (+9.6 percent). However, at 19.18 euros per square meter, it remains a more budget-friendly choice compared to Amsterdam, where the cost climbed to 27.28 euros per square meter, marking a 5.9 percent increase.
Interestingly, Eindhoven witnessed a 1.4 percent drop in rents instead, settling at 17.67 euros per square meter.
It’s crucial to note that these figures relate to new tenants, as current tenants are subject to rules governing annual rent increases (max 5.5% in 2024).
Additionally, Pararius reports a 15% decrease in the number of homes entering the market for new tenants in the last quarter, totaling 17,300. The competition for available rentals has eased slightly, with an average property receiving around 18 responses, slightly fewer than the 21 responses seen in the same period last year.
As the rental landscape continues its dynamic journey, we’re here with the expertise, advice, and support you need to navigate these changes. Reach out to our Relocation team at email@example.com for more information. 🏡💼