Looking to buy a house in the Netherlands? Then 2021 might be the year for you! Prices are expected to drop between the new year and 2022, according to a report released today by Rabobank.
By 2022, the Dutch bank expects house prices to fall by about 2.6%, but in the first quarter of 2021 prices will already drop by 0.8%. The report also predicts house sales to drop from 220,000 to 190,000 in 2021.
Buyers and investment
First-time house buyers are expected to diminish in the coming year, as they tend to have been hit harder by the crisis. Those previously interested in upgrading their housing are probably going to be more hesitant to do so. This is because many still fear losing their jobs as a result of coronavirus.
Since tourists, expats and foreign students will be decreasing during this time, investment into the housing market is also expected to drop.
In the coming year, Rabobank predicts the Dutch economy to shrink by 5.2%, with a small recovery of 2% in 2021 — assuming there is a vaccine by then.
After 2022, the large housing shortage and low mortgage interest will push prices up again. The bank expects the Dutch economy to only really normalize again from mid-2021.
Are you planning a house in the Netherlands? Will you wait? Tell us in the comments below!
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