Amsterdam to soften expat housing quota

Monday 22 September 2008

Amsterdam city council will Tuesday discuss plans to implement a quota system for short-term housing for expats, Het Financieele Dagblad reports.

The council is expected to soften the terms of the quota, which is due to be come into force in March.

It originally aimed to limit the number of official short-let houses or flats to 825. It also planned to charge the owners of rented property 3% of the housing's market value for the right to rent to expats for five years.

The council believes the high rents that expats are willing to pay are distorting the market.

Huub Smeets, who heads property developer Vesteda, was quoted as saying that he will take the council to court if it goes ahead with its plan.

© DutchNews.nl

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