Netherlands Home Prices Rise 4.3% in February: CBS and Land Registry Report
Discover the latest data from Statistics Netherlands and the Land Registry showing a 4.3% increase in home prices in the Netherlands in February.
Netherlands home prices saw a significant increase in February, with owner-occupied homes becoming more expensive once again. According to Statistics Netherlands (CBS) and the Land Registry, the average price of a house in February was 4.3 percent higher than in the same month in 2023. This marks a 1 percent increase from January. Additionally, there was a notable increase in the number of homes sold last month, with over 13,810 homes changing hands in February, a 16.5 percent increase compared to the previous year. In the first two months of 2023, a total of 28,262 homes were sold, representing a 13 percent increase from the same period in 2022. The average cost of a house in February was 427,279 euros.
Home prices in the Netherlands peaked in July 2022 before experiencing a decline due to increased interest rates impacting mortgage rates. However, prices have been on the rise since June of last year. The surge in prices can be attributed to high demand for housing, substantial wage increases, and leftover savings from the coronavirus period. Additionally, the limited housing supply has further contributed to the increase in prices.
The housing market in the Netherlands continues to show resilience and growth, with prices steadily increasing and demand remaining high. The combination of factors such as wage increases, leftover savings, and limited housing supply is driving the upward trend in home prices.
Netherlands Home Prices Rise 4.3% in February: CBS and Land Registry Report
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