Buying a house will now cost you 14.5% more than it did last year, and nearly DOUBLE the prices of nine years ago.
Nope, that’s not a typo. 😭
According to research compiled by CBS, the Central Bureau of Statistics, existing owner-occupied houses are now 99% more expensive than they were in 2013. Wat vreselijk! 😱
Building castles in the air
Since the lull in prices of July 2013, costs of existing houses have been on a steady upward trek — with January of this year ringing in a 21.1% increase.
Aspiring homeowners will definitely need to put the brakes on those “New Year, New Home” goals.
READ MORE | Why is there a housing shortage in the Netherlands? The Dutch housing crisis explained
This is alarming news for Dutchies that already have to contend with record high inflation, and a loss of purchasing power due to slowly-rising wages being unable to match the skyrocketing inflation rate.
A house is not a home
The Land Registry recorded 22.2% fewer residential purchases in the first seven months of 2022 than in the same period of the previous year. 🧐
And this July alone, only 16,417 residential purchases were made — nearly 14% fewer than in July 2021.
The hesitancy to pull the trigger on a house is understandable, but given the rising prices of rent (hello, paying €700 for a cardboard box, anyone?), wallet-friendly housing options may be off the market for the foreseeable future.
What are your opinions on the current Dutch housing market? Tell us your thoughts in the comments below!