Dutch house prices go through the roof, among strongest EU risers

Airbnb urges Amsterdam landlords to protest about registration plan

House prices in the Netherlands shot up by an average 8.2% in 2017, outpacing gains in the rest of western Europe with the exception of Portugal and Ireland. The survey of 17 countries by property valuation company Calcasa revealed that Dutch house prices rose almost 21% over the past three years. Calcasa carried out two separate studies, one covering a 3-year and the other a 5-year period. Prices in Ireland, Sweden and Portugal rose the most in both surveys. House prices did not rise as quickly in the Netherlands as in other European countries between 2012 and 2017, which Calcasa said, was a hangover from the 2008  economic crisis. Dutch property prices were still declining in 2012 and 2013. As a result, the price rise over five years was somewhat lower than in other countries, Calcasa said.   More >

Amsterdam is at risk of a housing bubble

Airbnb urges Amsterdam landlords to protest about registration plan Amsterdam has entered the UBS list of potential real estate bubbles for the first time, joining eight other cities listed as places where the fear of missing out is driving people to pay too much for a home. 'The bubble risk seems greatest in Toronto, where it has increased significantly in the last year. Stockholm, Munich, Vancouver, Sydney, London and Hong Kong all remain in risk territory, with Amsterdam joining this group after falling into 'overvalued' territory last year,' the Swiss bank said. UBS says that since 2015 real prices in the Dutch capital have increased by 30% and the cit ’s housing market is 'sharply decoupled from the weak countrywide housing market'. Nevertheless, income and rental growth have kept pace with price growth since 2008, limiting the downside risk, UBS says. Research last year showed that some 80% of new owner-occupier properties within the A10 ring road cost more than €400,000, while rents of €1,500 for a one-bedroom flat have become the norm. The city council has decided that  40% of new homes built within the city’s boundaries must fall under social housing rules, meaning the rent can be no more than €710 a month. A further 40% must target middle income households with rents of around €850 per month or be affordable to middle income home buyers. The remaining properties will target high earners.   More >

Bloemendaal tops expensive home list

Bloemendaal tops expensive home list, while Delfzijl is bottom The most expensive homes in the Netherlands are once again found in the coastal town of Bloemendaal near Haarlem. The average price for a house was €776,0000 in 2017, according to a new report published jointly by the national statistics office CBS and the land registry on Thursday. This was well above the national average of €263,000 last year and far above the average €141,000 paid in the northern port city of Delfzijl, reckoned to be the cheapest in the country for housing. The price differences last year were wider than in 2016, the CBS said. Average house prices in Bloemendaal were 5.5 times more expensive than in Delfzijl in 2017 but only just over five times higher in the previous year. Aside from Bloemendaal, average house prices above €500,000 were also found in Waasenaar, Laren (Noord-Holland), Blaricum and Heemstede.  A year earlier Heemstede failed to top the €500,000 mark with an average of €448,000, but Rozendaal did with €544,000. Delfzijl was the only town in the Netherlands with an average house price below €150,000 in 2017. In 80% of the towns surveyed, the average house price varied between €195,000 and €337,000. The average house price is below €195,000 in 10% of the towns; these are mostly located on the edges of the country in Groningen, Friesland and Limburg provinces. In the highest segment, sales prices were between €337,000 and €776,000. Amsterdam falls in this category with average home prices pegged at €406,000.  More >

Free sector rents now average over €1,000

Airbnb urges Amsterdam landlords to protest about registration plan People looking for a home to rent outside the rent-controlled sector have to pay an average of over €1,000 a month, according to research by real estate agents association NVM. It is the first time that the average rent for new contracts has topped €1,000 and highlights the major shortage of homes in the so-called 'middle segment', the NVM said. The average rent charged in new contracts has risen 2.5% over the past year with the biggest rises booked in Almere, Eindhoven and Rotterdam. Property costing less than €710 a month is rent-controlled and only people on low incomes can move in. Amsterdam remains the most expensive place to rent a home, partly because of the shortage of non-rent controlled homes. Newcomers can expect to pay upwards of €1,500 for one-room apartment of 50 square metres – if they can find one. Average new rental contracts in the city are now over €2,200, according to research by housing platform Pararius.  More >

Amsterdam property fraud fines total €4.2m

Airbnb urges Amsterdam landlords to protest about registration plan Amsterdam city council levied 378 fines totalling €4.2m on property bosses and private owners last year, largely for illegally renting flats to tourists. The 2017 figure is over twice that generated in 2016, when housing fraud cost owners €1.9m. At the same time, the council closed 148 properties which it said were operating as illegal hotels, compared with 284 in 2016, when inspections were stepped up. 'Fraud is spread over the entire city,' housing alderman Laurens Ivens told the Parool. 'What we see now is more minor infringements - couples moving in together and then renting out one of their flats to tourists. These are the little guys, not the investors who rent out entire buildings as illegal hotels.' The council also dealt with more complaints about shared flats - whereby three or more people, often students or people in their first job - share a property. This is illegal in Amsterdam, unless the flat sharers have applied for a licence. Airbnb The council report also shows that an end has come to the unfettered growth of Airbnb in the Dutch capital and just 5% of homes are now being offered for rent for more than the permitted 60 days. In 2016, almost one in five properties broke the agreement. Nevertheless, Airbnb landlords are still not registering when they have rented out their properties as they should be doing since October, Ivens said. 'That has to be improved,' he said. 'Which is why we have begun actively monitoring compliance.' The council is also slashing the number of days property can be rented out to 30.    More >