Crackdown: Amsterdam could be first Dutch city to block investors from buying homes

As the Netherlands roars with voices demanding solutions for the housing shortage, πŸ“’ Amsterdam is taking a step in that direction by introducing a policy that aims to put an end to private investors buying houses only to rent them out later.

Known formally as a self-residential obligation, this would concern houses that cost below €512,000. The city’s board members will take a vote on this in February β€” and let’s hope they take the housing crisis into consideration. πŸ‘€

If the members vote in favour, Amsterdam will prohibit anyone who buys such property from renting it for the first four years. This policy, Deputy Mayor Jakob Wedemeijer tells the NOS that this “will ensure that as many homes as possible can only be bought by people who actually will live there.”

It can’t stop here, after all, it is a CRISIS β€” Wedemeijer, who’s responsible for city housing, expressed that more steps are needed to tackle affordable housing in the future, like a governmental limit on rents. Planning to profit off of the housing shortage? Be fair or look elsewhere. πŸ‘›

READ MORE| Over 300 prime Amsterdam apartments owned by US company have been sitting vacant β€” despite the housing crisis

Amsterdam’s scope

In a shockingly large percentage, one in three Amsterdam homes is owned by private investors. The city intends to cover as much as six out of ten houses by purchase protection in the future.

Amsterdam’s decision was approved by some and opposed by others, as fears grew over the city’s plan to build policies over ‘excuses’ within the Dutch housing market. πŸ—£οΈ

The Association of Private Landlords of Homes, Vastgoed Belang, argues against the plans as they believe it will only increase the shortage in mid-range rental homes.

On the other hand, Woonbond, which represents 1.6 million tenants, expressed that this move, although welcomed, will need additional measures such as imposing a limit on the points system for rental properties.

Do you think the new measures by Amsterdam will benefit the housing crisis? Tell us in the comments below.

Feature Image: glazunofoto@gmail.com/Depositphotos

Farah Al Mazouni
Farah believes she's been on many adventures during her millennial life, each for a different (sometimes invisible) purpose. The latest adventure whisked her away to Amsterdam for love, and what a magical surprise she found in this city. Armed with imaginary confetti in her pocket, and ready to celebrate all wins, big and small, Farah says "ahla w sahla" or β€œwelcome” to her latest adventure in this wonderland.

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