Paying thousands of euros to share a cramped, damp flat with a mouse and looking for an out? You’re in luck, as Dutch housing prices are finally falling — for the first time in nine years. 🥳
Prices of owner-occupied houses in all provinces fell during the last few months, according to NU.nl.
However, it was the provinces of North Holland, Utrecht, and Flevoland that exhibited the steepest drop, with housing prices 3 to 4% lower than the previous quarter.
Aspiring homeowners didn’t waste any time
New homeowners took full advantage of the price drop, with a grand total of 51,345 houses sold during the last quarter. 🔥
House prices are also dropping in the Netherlands. It's a correction of the housing bubble and ofc the higher interest rates for mortgages— Menno (@mennomaassluis) January 14, 2023
In fact, from early October to late December, there was a 1.8% rise in home ownership in the Netherlands. You go, homeowners!
However, prices are still higher than in 2021
Despite a very welcome price drop across the country, houses are still more expensive than they were in 2021.
For example, if you’d chosen to hop off and buy a house in December of last year, you’d be paying 2.7% more than you would a year earlier.
The good news? (Yes, there’s a silver lining! 😉)
That 2.7% increase is the smallest rise in house prices that we’ve seen in the past seven years.
Whilst the current housing crisis doesn’t leave us much energy to be hopeful about home ownership, this small win shows us that there still is (some) hope on the horizon!
How do you feel about the drop in housing prices? Tell us all about it in the comments below!