Dutch Housing Market Sees 9.1% Price Increase in Q1

Discover the latest trends in the Netherlands housing market, where over half of homes are selling above asking price, creating fierce competition among buyers.

The housing market in the Netherlands continues to experience significant growth, with owner-occupied home prices increasing by 9.1 percent in the first quarter of this year compared to the same period last year. According to the Dutch Association of Realtors (NVM), more than half of homes were sold above asking price for the second consecutive quarter, highlighting the intense competition among buyers in the current market.

The housing shortage in the Netherlands is a key factor driving up prices, as the number of buyers far exceeds the available inventory of homes. In the first quarter of 2024, the average selling price of homes reached 432,000 euros, marking a 9.1 percent increase from the previous year. Terraced houses and corner houses saw the highest price increases, with values rising by 10.7 percent and 10.2 percent, respectively.

NVM realtors reported selling around 29,500 existing homes in the first quarter, a 4 percent increase from the previous year but an 18 percent decrease from the previous quarter. A significant 55 percent of homes were sold above the asking price, indicating the fierce competition in the market. On average, homes sold for 1.8 percent more than the listed price, a stark contrast to a year ago when prices were below the asking price.

Certain regions in the Netherlands saw particularly high demand and price increases. Flevoland, especially Almere, had nearly 75 percent of homes sold above asking price, while regions like Amsterdam, Utrecht, and Zaanstreek also experienced high levels of overbidding. Haarlem emerged as the city with the highest average transaction price at 576,000 euros, followed closely by Het Gooi and Vechtstreek at 568,000 euros.

The shortage of available homes has also led to a surge in sales of newly built homes, with realtors selling twice as many new construction homes compared to the previous year. The median price for new construction homes reached 479,000 euros, a 1.4 percent increase from the previous quarter.

Overall, the Dutch housing market remains highly competitive, with demand outstripping supply and driving up prices across the country. As the market continues to evolve, it will be important for both buyers and sellers to stay informed and adapt to the changing landscape.

The housing market in the Netherlands is experiencing significant growth, with owner-occupied home prices on the rise and intense competition among buyers. The ongoing housing shortage is a key driver of price increases, leading to high levels of overbidding and a surge in sales of newly built homes.