Marching in Amsterdam’s footsteps, The Hague and Utrecht are launching property purchase protection across their cities as of next year. Meanwhile, Rotterdam will decide on similar action by next week.
In an effort to combat greedy investors from buying houses or apartment blocks to rent out at sky-high cost, Nu.nl reports that The Hague and Utrecht are taking advantage of the Dutch cabinet’s offer to use purchase protection in their cities. ✍️
The private investors’ role in the current housing crisis isn’t exactly minor, as the Dutch land registry recently announced that these private investors own 17.8% of the houses in the major cities across the Netherlands — and that isn’t exactly a small chunk. 🍽️
What does it mean?
While the finer details of each purchase protection policy are still to be determined by the municipalities, the concept generally aims to prohibit investors from buying cheap and mid-priced houses in specific neighbourhoods of big (and some small) Dutch cities.
Utrecht and The Hague are not enforcing a self-residential obligation like the ad-on to Amsterdam’s purchase protection policy as of yet. However, in a bold move, ♟️ The Hague is advocating in front of the cabinet for a rent limit on all privately purchased properties in the city.
“Only in this way will immediate action be taken on affordability, and it will become less interesting for private investors to buy homes and ask for high rents,” a spokesperson for The Hague explains.
As for Utrecht, the city hasn’t decided on the value of houses included in the purchase protection plan as of yet. However, it is promised to be as high as possible.
Do you think these purchase protection plans will have an effect on the Dutch housing crisis? Tell us in the comments! below
Feature Image: lugrin/Depositphotos
