While the Dutch housing crisis is far from over, prices started to go down after what seemed like an eternity of price hikes.
Compared to September, the price index of owner-occupied dwellings fell by 0.5% in the previous month. Considering the current housing situation, this seems like a good reason to pop open some champagne! 🍾
Far from normal
In the previous month, the owner-occupied dwellings were 7.8% more expensive on average than a year ago, according to the Statistics Netherlands (CBS) and The Netherlands’ Cadastre, Land Registry and Mapping Agency.
Dutch housing prices reached their lowest point in June 2013 and followed an upward trend until August 2022, RTL Nieuws reports. Compared to 2013, prices were 96.6% higher this September. 🥲 But it’s now the third month in a row that Dutch house prices have fallen.
READ MORE: Why is there a housing shortage in the Netherlands? The Dutch housing crisis explained
Abnormal prices
It becomes increasingly difficult for people to pay their rent in bigger cities, and it is almost impossible to find a place as an international student.
READ MORE: 5 things to know about the Dutch student housing crisis
Rising mortgage rates, in particular, make it incredibly challenging to buy or rent a house in the Netherlands. Because of this, 8% fewer homes changed hands in October compared to a year earlier.
How does the housing crisis affect you? Tell us in the comments!