If there was one small comfort to be had from never being able to own a home in the Netherlands, it was that at least you never had to worry about being caught up in a ruthless bidding process.
Well, we may have to bid adieu to that comfort.
The Dutch auction site, Redbid.nl, now allows hopeful renters to bid against each other, Het Parool reports. The result? As you can imagine, much higher rental prices. 💶
How, what, why?
The way the site works is simple. A rental property is listed, and users can bid on top of the monthly rent in increments of €25. And that’s exactly what people are doing.
Het Parool found properties of 63m2 going for as high as €1,600 per month, or €2,750 for 148m2. A spokesperson for the Dutch housing association, Woonbond, tells the paper that the site “shows that the madness in the market right now is very big.”
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So far, the site appears to rent out properties based in Amsterdam — a city that already suffers from ridiculously high rents. 🤦
A more transparent process
The creator of the site, Daniel Raadschelders, tells Het Parool that he “wanted to create a transparent platform.” This way, potential renters have more control over the rental process, he says.
Indeed, that seems to be the selling point of the site, with the welcoming message of “Determine the rent for your new home yourself” greeting you on the homepage.
Watch the prices rise
However, other experts in the Amsterdam rental field would argue that the only thing that this process will determine for you, is that your monthly rent will be even higher. 😬
READ MORE | Renting in the Netherlands: the ultimate guide
Speaking to Het Parool, Jerry Wijnen, chairman of the Amsterdam Real Estate Agency says that the process of auctioning off rental properties will make “living out of reach for some” and that “if we turn the rental market into an auction, it will become even more expensive.”
Nee, dankjewel. ✋
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