Are you thinking of buying a house in Amsterdam? Unfortunately, it’s a slim possibility for those on a normal salary.
Some may be shocked to hear that a listing for a 31 square metre studio has just sold for €185,000.
But what’s even more shocking is that this was the only home listed for which you could get a loan if you earned an average salary (without contributing any extra money).
🥲
Here's to hoping for better days ahead. I'm based in the Netherlands, at least job prospects are fine and taxes are relatively ok – but the hopes of ever buying a house are minimal for me rn— Fresh Equinox 🅾️🌴 (@FreshEquinox) July 10, 2024
But it’s not all negative
According to Het Parool, the average income of an Amsterdammer is €44,000. And, as housing prices climb, it is becoming increasingly less likely for the average Joe to buy a home in the Netherlands’ busiest city.
However, if you’re a first-time buyer, don’t give up hope just yet. According to the Dutch Land Registry, the number of young buyers in the Netherlands is rapidly rising.
Due to recent changes to housing regulations in the Netherlands, such as the introduction of the Affordable Rent Act and increased interest rates and transfer tax, many investors have decided to sell their rentals.
READ MORE | From next week Dutch landlords will find it much harder to raise your rent
That’s because the Affordable Rent Act limits the ability of landlords to charge excessively high rents, particularly for those smaller apartments. 😉
As a result, 55% of homes that recently came to the market were bought by people under 35.
Here’s to hoping we can all buy our own homes shortly!
Are you currently in the process of buying a home in the Netherlands? Let us know your experience in the comments below! 👇
