House prices rise slightly for the fifth month in a row

Photo: Dutch News

House prices rose 0.7% in October when compared with September, the fifth month in a row that prices have risen slightly, national statistics agency CBS said on Wednesday.

Year on year, house prices are still down 2.3% on October 2022.

The prices are based on completed transactions that have been noted in the land registry. Figures from the NVM estate agents organisation, which also show a rise in prices, are based on deals done by members. 

In total, 15,705 transactions were registered in October, 6% up on the same month in 2022. In total, almost 150,000 properties changed hands in the first 10 months of the year, a rise of almost 6%. 

The average price paid for a home in October was €424,521.

What’s all the fuss about housing in the Netherlands?

Next year, single people and people buying more energy efficient homes will be able to borrow more, the outgoing government has agreed.

Singles earning at least €28,000 a year will be able to borrow an additional €16,000 from 2024, so that more possible new homes are open to them. According to family spending institute Nibud, singles have lower costs than couples, which is why they should be able to borrow a little more. Earnings are also going up because of high inflation.

The institute has also drawn up new guidelines for energy efficient homes and people borrowing to buy a house with a high energy label will also be able to borrow more from next year.

The extra loan will begin at €5,000 for energy labels D and C, rising to €50,000 for people buying a home with an A++++ label and a 10-year energy performance guarantee. 

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