Banks are no longer willing to make loans to housing corporations, causing Portaal with its 56,000 homes liquidity problems, the Financieele Dagblad reports.

The housing corporation is struggling to meet its financial buffers because its financial investments are based on interest rates. The negative value of these investments needs to be filled by bank loans.
Portaal says it is negotiating urgently with the banks but it has become very difficult since the country’s biggest housing corporation, Vestia, ran into trouble. The Rotterdam corporation tried to solve its liquidity problems by handing its housing stock as collateral to a guarantee fund for social housing and so side-stepping the banks.
On Monday Portaal and its sector peer Wooninvest were put under sharper supervision, with home affairs minister Liesbeth Spies saying both organisations are a ‘liquidity risk’.