NAM offers earthquake households compensation for house price drop

groningen earthquake damageDutch gas extraction group NAM is offering 24 people financial compensation because they were forced to sell their homes for less than the real value due to earthquake damage.

Twenty-one other people had their claims rejected. In total, 237 people have so far submitted claims under the NAM compensation scheme.
NAM has refused to say how much compensation it has offered, but that the sum is between 1% and 5% of the sales price.

The compensation ruling only applies to people who sold their houses after January 25 last year, when economic affairs minister Henk Kamp said earthquakes, caused as the ground settles after gas extraction, would become more serious.


However, local action groups say the compensation being offered is inadequate. It is ‘completely ridiculous’ to say that house prices in the affected area have only gone down by between 1% and 5%, said spokesman Dick Kleijer.

The WAG foundation, which represents 12 housing corporations and 550 home owners, say its research shows house prices in the quake zone have slumped by up to 25%.

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