Tuesday 20 August 2019

Repaying mortgages more popular than buying goods: CBS

Repaying mortgages more popular than buying goods: CBS

Consumer spending has lagged behind economic growth in the Netherlands over the past 10 years because people opted to pay off debts and mortgages rather than buy more goods, national statistics agency CBS said on Monday. The Dutch economy grew 9,3% between 2008 and 2018, but consumer spending only rose by 4.1%, the CBS said. The recession and the increase in the number of home owners with negative equity, plus tougher new rules on mortgage repayments, have encouraged people to... More >

Prisoner can keep social housing home

A man sentenced to a three-year jail term in January has won the right to keep his housing corporation home, even though he won’t be able to live in it for some time. Housing corporation Ymere went to court to have the man evicted, arguing that it is wrong to keep a house empty when there is such a shortage of affordable homes in Amsterdam. The waiting time for a rent-controlled home in the Dutch capital is now 14 years.... More >

Home ownership out of reach for most

Buying a home is twice as expensive as it was in the 1990s, with home owners now spending nine times their average salary on a property, Rabobank economists have told the Telegraaf. In the 1990s, an average home cost four to five times the average salary, the paper said. House prices have risen much more than salaries, meaning home owners have to spend a bigger chunk of their life’s earnings on a property. ‘Home ownership may be considered normal but... More >

Newly built homes soar 10% in price

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... More >