Fewer Than 2% of Dutch Homes Sold to International Buyers

Analyze the decline in international purchases of Dutch houses, revealing key factors influencing this trend and its effects on the housing market.

International workers in the Netherlands are increasingly entering the housing market, purchasing more homes than ever before. However, despite this uptick, they still represent a mere blip on the radar, accounting for less than 2% of sales through NVM estate agents. Intriguingly, recent data from the NVM indicates that the proportion of homes acquired by this demographic has more than doubled since 2020, suggesting a burgeoning trend that merits further examination.

Dutch politicians have often pointed fingers at the influx of foreign workers, attributing the housing shortage to their presence and claiming that these newcomers are driving prices skyward. The NVM has highlighted that soaring rental costs are a significant factor prompting internationals to opt for homeownership over renting. This assertion finds support among mortgage brokers who cater specifically to the international community, who often find themselves grappling with exorbitant rental prices. For instance, a monthly rent of €3,000 can make the prospect of purchasing a home not just appealing, but financially prudent—though, of course, this decision is contingent upon individual financial circumstances and the duration of their intended stay in the Netherlands.

Since 2019, NVM members—who control approximately 70% of the market—have meticulously categorized buyers into distinct groups: first-time buyers, internationals, and others. The "international" category encompasses a diverse array of individuals, including foreign workers, business owners, and students. Notably, international residents in Amstelveen have emerged as the most prolific homebuyers, surpassing all other locales. Following closely behind are Veldhoven, Eindhoven, Amsterdam, Uithoorn, Haarlemmermeer, The Hague, Almere, Zandstad, and Haarlem, rounding out the top ten.

In a striking three-quarters of transactions, properties sold for over €400,000, a statistic that can be partially attributed to the elevated prices in the areas favored by international buyers, as noted by the NVM. Thus, while the narrative surrounding foreign workers and the housing market is fraught with complexity, it is clear that their growing presence is reshaping the landscape of homeownership in the Netherlands.