Amsterdam announces plan to build 10,000 new rental houses

The housing crisis in Amsterdam is notorious, given the scarcity of available apartments and exorbitantly high rent. A new deal could signal a change in the housing situation.

This afternoon, a declaration of intent was signed between the Amsterdam municipality and the real estate representatives from IVBN and Vastgoed Belang. It’s now promised that 10,000 new houses will be built for rent. This is achieved by relaxing laws and the regulation regarding new rental properties, reports RTL Nieuws.

Limit on rent increase

Part of the deal is a cap on the increase of rent, equal to that year’s inflation plus one percent. The apartments will be built within the next five years. They will be mid-range, with the price going from 740 euros to 1030 euros a month.

The limit on the rent increase is similar to an older plan called the ’emergency button’, with the government intervening by setting the maximum monthly rent. This solution, for obvious reasons, upset the landlords, so the declaration of intent that was recently signed might turn out to be a landmark deal.

Apartments for middle incomers, like caregivers and teachers

The plan for new apartments is mostly targeted towards those are considered ‘vulnerable groups’. These include teachers and caregivers, who despite playing an important role in society often find themselves struggling to find decent rent in the city centers.

Not everyone agrees that the new apartments will necessarily help middle incomers. Nic Vrieselaar, a housing market economist from Rabobank, explains that someone who has a net income of 2300 euros, while also supporting a family, will struggle with giving an additional 900 euros on rent. Part of the usefulness of this new housing project will be given by the size of the apartments because if they are too small, they are arguably not helpful for people who earn a middle income.

Time will tell the efficacy of this project, and whether or not the plans involved will help fix the current housing crisis.

What are your experiences with renting in the Netherlands, and especially in Amsterdam? Let us know in the comments below!

Feature Image: 0805edwin/Pixabay

Vlad Moca-Grama
Vlad was born and raised in Brasov, Romania and came to the Hague to study. When he isn't spending time missing mountains or complaining about the lack of urban exploration locations in the Netherlands, you can find him writing at Dutch Review.

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