Sunday 27 November 2022

Rental housing market grows as home ownership gets harder

The demand for rental housing outside the rent-controlled sector is soaring, according to people working in the sector.

Housing website Pararius reports the number of days a property is listed before finding a new tenant fell from 91 days to 84 days last year.
At the same time, the number of people visiting the website has gone up 30%, while it has rented out almost 50% more homes.
Direct Wonen, another rental housing site, told news website it has noted a 13% increase in ‘serious visitors’.
Tenants’ lobby group Woonbond confirms the trend, said. ‘People who want to buy often can’t get finance,’ director Ronald Paping said. ‘The idea of buying a home to build up capital has gone.’
Paping says some 75% of newly built homes in the Netherlands are now being offered for rent, compared with 50% before the housing crisis. In addition, people who have bought a new house but are unable to sell their original property are also renting these out.
Banks’ reluctance to give mortgages to people on temporary employment contracts is also encouraging the switch to renting, the organisations say.
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