It seems like we’re not far off from breaking another housing price record — and not in a good way. 😬
For the second month in a row, housing prices have been on the rise in the Netherlands, with existing houses now costing 1.8% more than last January.
If housing prices continue to rise like this, the Netherlands will reach a new peak by March or April, writes NU.nl.
Prices on the rise
According to CBS, housing prices peaked in the summer of 2022 when people were buying homes for an average of €445,000.
Prices started decreasing until June 2023, but began to climb once again on a monthly basis.
Now, houses are selling for an average of €433,000. Say what? ðŸ˜
More homes sold
What’s truly interesting, however, is that there are actually more home sales taking places this year as compared to the last few years.
In January, 14,452 homes changed ownership in the Netherlands, about 10% more than the number of homes sold in January 2023.
There are a few possible explanations for this: the energy crisis and high inflation rate last year likely held buyers back from purchasing homes.
Purchasing power has also increased, and it’s also easier to qualify for the National Mortgage Guarantee that protects homebuyers from debt in case of a forced home sale.
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