Sunday 28 August 2016

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Amsterdam rental property costs 70% more than elsewhere

Housing

Rental property in non-rent controlled sector in Amsterdam is 70% more expensive than similar homes in other parts of the country, according to research by real estate agency NVM.The average price of a free sector property is almost €1,500 in the capital, the survey, carried out together with Ortec Finance, showed.The Hague, where tenants pay a 39% premium and the Gooi region near Utrecht (37%) have the second and third most expensive rental property, the survey found.The survey also found that rents excluding the social housing sector have risen faster than the price of owner occupied homes, a marked shift to previous years.Shortage‘The price rise is bad news for consumers who are faced with finding a home in the non-rent controlled sector,’ NVM chairman Ger Jaarsma said. ‘And that comes on top of a far from ideal supply.’The average price of a liberalized sector rental property is €1,244 a month, but this is largely due to higher prices in Utrecht, Noord-Holland and Zuid-Holland provinces. In all other parts of the country, the average rent is below €1,000.There are some 326,000 non-rent controlled rental homes in the Netherlands. This means just one in 20 properties is available for rent to people earning more than €35,000 a year.  More >


First time buyers face more problems

HousingIt is becoming increasingly difficult for first time buyers to get a foothold in the housing market, the Volkskrant said on Tuesday.House prices are not only going up, but officials are handing out fewer cheap government backed loans to help new entrants to the housing market, the paper said.Figures from the home ownership fund SVN show that the number of starter loans being issued has fallen from 2,000 a quarter in 2014 to 1,060 in the second quarter of this year. The number of councils prepared to help first time buyers has also fallen from 300 to 221, the Volkskrant said.The SVN offers low interest loans for first time buyers and existing home owners which do not have to be repaid immediately.UtrechtUtrecht is among the cities to withdraw from the scheme. ‘The loan was meant to help starters take the step from rental accommodation to home ownership during the crisis and to boost house sales,’ a spokesman for Utrecht city council said. ‘Both those targets have been realised.’In 2012, the average starter loan was at least €30,000. Now it is around 25% of that,, the Volkskrant said.Some councils, including Amersfoort and Hoorn, are keeping the system going. Rotterdam too is continuing to encourage first time home buyers.However, the tax benefits attached to the loans will stop at the end of this year and from 2007, the loans will have to be paid off alongside the regular mortgage, the paper pointed out.  More >


Dutch house prices rise nearly 5% in July

HousingHouse prices in the Netherlands have taken their biggest leap in 12 years, recording an average rise of 4.9% in July, according to new figures from the land registry and statistics office CBS.House prices reached a peak in August 2008 but then fell steadily because of the impact of the economic crisis. They have been rising again since June 2013.Nevertheless, they are still down 12.8% on their maximum, having risen 11% since the start of the recovery. In July 2016, average house prices were on a par with March 2005.However there are major regional discrepancies. The CBS said in June that house prices had rocketed in Amsterdam and are now 7% up on their pre-crisis peak. In the three months to June, house prices in Amsterdam rose almost 15%.  More >