New homes soar 10% in price as building costs shoot up

Industry and construction have had a poor start to the year. Photo: Dutch News
New housing under construction in Amsterdam

The average cost of a newly-built home in the Netherlands has soared 10% over the past year, compared with an 8% rise for existing properties, national statistics agency CBS said on Monday.

The cost of newly-built homes has now outstripped older housing for the past 18 months, the CBS said. The agency bases its claim on figures from the Kadaster land registry office.

Last week, real estate agent association NVM warned that the government’s decision to phase out the use of natural gas is pushing up the cost of new homes, as is the shortage of building workers and rising cost of land.

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