New housing projects smaller and cheaper

The recession has taken its toll on new housing developments, with developers focusing on smaller and cheaper homes, the AD reports on Tuesday.

The average price of a new home has now fallen €55,000 to €280,000, the paper says. It bases its claims on the latest edition of the official new housing monitor due to be published later this week.
The price of new homes has fallen sharpest in the urban belt stretching from Rotterdam and the Hague to Amsterdam and Utrecht, the paper says. In Utrecht, the average price of a new house has fallen from €389,000 to €264,000 over the past year. In Noord Holland province the drop has been more remarkable – from €437,000 to €310,000 over a 12-month period.
Jan Fokkema of the project developers association said more terraced housing and fewer detached homes are being built. There are also less homes being completed and in the planning stages, he told the paper.

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