The Netherlands will now offer up to €75,000 for people who can’t afford to buy a home

Finally, a win for first-time home buyers; the Netherlands may soon offer a subsidy of up to €75,000 to help middle-income earners. 

The subsidy, referred to as the National Fund for Affordable Homes, will offer huge discounts on new homes to people earning between €40,000 to €65,000 a year, reports AD.nl. 

Buying a house in the Netherlands? Nice try

Home-owning in the Netherlands has become more of a myth than a reality for many middle-income earners. The housing situation across the country has seemed hopeless for people, leaving them reliant on renting housing.

But, no more! With the average price of a home in the Netherlands reaching €400,000, the subsidy can help to reduce this hefty price, making it easier (and more realistic!) for first-time buyers to purchase a home. 🏡😍

However, the discount does come with a small catch; if the house is later sold, the money must be repaid to the government. And, if the sale of the house comes at a profit? Part of that profit must also be repaid. 

This helps the fund continue to help new starters over the next few years. 

By 2030, up to 5,000 new homes will be sold to first-time buyers

The national expertise centre for the housing market, the OpMaat foundation, announced the launch of the fund last week. 

The goal of the fund? To help first-home buyers in the Netherlands purchase 5,000 homes over the next eight years. 

This is not the first fund of this kind to exist in the Netherlands. However, unlike other funds, this one is supported by the government. The Dutch government will provide €40 million to get it off the ground. 🤑

The parties of the VVD, D66, CDA, and ChristenUnie had already agreed to launch a fund for first-time buyers in the coalition agreement. A similar fund was in operation before but was abolished in 1988. 

Do you think this will help the Dutch housing crisis? Tell us in a comment below! 👇