Tuesday 26 May 2020

Amsterdam house prices break €500,000 average as shortage of homes bites

Photo: Depositphotos.com

The average price of a home in Amsterdam topped €500,000 for the first time in the third quarter of last year, according to figures from national statistics agency CBS quoted by the Parool.

While the average price paid to buy a home hit €314,000 nationwide, in the capital the figure reached €507,475, a rise of €35,000 on the second quarter.

‘Prices had stagnated as people started buying properties outside the city centre, but that may now have changed,’ a spokesman for real estate agents association NVM told the paper.

‘There is not much to buy in Amsterdam – just 30% of the housing stock is owner-occupier,’ Rabobank expert Nic Vrieselaar told the paper. Nationwide, around 57% of homes are lived in by their owners.

In addition, Amsterdam’s housing stock is dominated by social rental properties with strict income controls, reducing the options available to higher income groups.

The city has plans to build 52,000 new homes by 2024, most of which will be rent-controlled.

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