Netherlands House Prices Surge: Up 9% in May 2023

Discover the latest data on the Netherlands housing market, with prices hitting a new peak in May 2023, up almost 9% compared to the previous year.

House prices in the Netherlands continued to soar in May, with a nearly 9% increase compared to the same month in 2023. According to data released by the national statistics office CBS and the land registry Kadaster, the month-on-month rise was 1.1%, marking a steady upward trend in the Dutch housing market since June 2023.

The latest figures reveal that the average price of a home in May 2024 was 1.8% higher than the previous peak recorded in July 2022. Additionally, there was a notable increase in the number of transactions, with 17,591 homes changing hands in May – a significant rise of 16.5% compared to the same period last year. Overall, the first five months of 2024 saw nearly 78,000 homes being sold, reflecting a 14% increase from 2023.

The average price for an existing home in the Netherlands now stands at €445,430, as reported by the CBS. The upcoming analysis of the Netherlands housing market by the estate agents organization NVM, scheduled for release on July 4, is expected to provide further insights into the current state of the real estate sector. It is worth noting that the NVM's data is based on sales conducted by its member agents, while the CBS figures represent finalized deals included in the land registry listings.

The continuous rise in house prices and the surge in transactions indicate a robust housing market in the Netherlands, with prices reaching new record levels. The ongoing trend underscores the strong demand for housing in the country, despite economic uncertainties and challenges.