Rising Home Prices in Netherlands: Twice Median Income No Longer Enough
Discover how the dream of owning an average home in the Netherlands is slipping away as prices soar, now requiring more than double the average income.
In the Netherlands, the dream of owning an average home is becoming increasingly out of reach for many as the cost of homeownership continues to rise. According to calculations by data company Calcassa, buying an average owner-occupied home in the country now requires more than twice the average income.
At the end of 2023, the price of an average home in the Netherlands stood at 452,000 euros. Under the new lending standards implemented this year, a household would need an annual income of 95,000 euros to secure a mortgage for that amount. This is more than double the average income of 44,000 euros per year. For those looking to purchase an apartment, the required income is 80,000 euros. This makes homeownership unattainable for single-income households.
The housing market in the Netherlands is expected to become even more expensive this year, with ING predicting a price increase of between 5 and 8 percent. However, rising wages and lower interest rates are expected to provide individuals with more borrowing capacity. Additionally, government measures aimed at reducing competition from investors are benefiting first-time buyers, as reported by De Hypotheekshop last week. In February, there was a 30 percent increase in mortgage applications from first-time buyers, marking the highest number of applications from this group in four years.
The rising cost of homeownership in the Netherlands is posing challenges for many individuals, particularly single-income households. While government measures and favorable economic conditions are providing some relief to first-time buyers, the affordability of housing remains a pressing issue in the country.
Rising Home Prices in Netherlands: Twice Median Income No Longer Enough
House Prices Fall in Switzerland: Key Insights Unveiled
Discover the shifting dynamics of Switzerland real estate market as apartment prices rise and single-family homes decline. Essential insights for buyers.
Discover the shifting dynamics of Switzerland real estate market as apartment prices rise and single-family homes decline. Essential insights for buyers.
Read moreCanada Real Estate: Positive Trends Amid Rate Changes
Discover how the recent interest rate cut impacts Canada real estate market, with a 9.1% rise in transactions in early 2024.
Discover how the recent interest rate cut impacts Canada real estate market, with a 9.1% rise in transactions in early 2024.
Read moreWhat are Top Real Estate Hotspots in Portugal for Foreign Buyer?
Discover why Lisbon, Porto, and Faro attract over 50% of non-resident loans in Portugal real estate market. Explore these thriving hotspots now!
Discover why Lisbon, Porto, and Faro attract over 50% of non-resident loans in Portugal real estate market. Explore these thriving hotspots now!
Read moreBrussels Real Estate Market Update: Prices Cool, Homes Still €100,000 Pricier
Discover how the Brussels real estate market is shifting, with a cooling trend in prices but homes still commanding high premiums.
Discover how the Brussels real estate market is shifting, with a cooling trend in prices but homes still commanding high premiums.
Read moreNew Zealand Real Estate Market Cools Further in June: A Comprehensive Analysis
Explore the latest trends as housing prices and sales decline across New Zealand. Get a comprehensive analysis of the cooling New Zealand real estate market.
Explore the latest trends as housing prices and sales decline across New Zealand. Get a comprehensive analysis of the cooling New Zealand real estate market.
Read moreLuxury Living: A New Investment Niche in UK Real Estate
Discover the resurgence of holiday let investments in the UK real estate market, presenting asset managers with lucrative opportunities in luxury living.
Discover the resurgence of holiday let investments in the UK real estate market, presenting asset managers with lucrative opportunities in luxury living.
Read moreInvestment Property with Pool in Portugal: 61% Higher Costs
Explore why investment property with pool in Portugal are 61% more expensive. Understand the market dynamics and benefits of pool ownership.
Explore why investment property with pool in Portugal are 61% more expensive. Understand the market dynamics and benefits of pool ownership.
Read moreWhy Foreign Investors Are Retreating from US Real Estate?
Explore the factors driving the decline in foreign investment in U.S. real estate and insights from experts on the shifting housing landscape.
Explore the factors driving the decline in foreign investment in U.S. real estate and insights from experts on the shifting housing landscape.
Read moreCyprus and Greece real estate market: Rental Yields Soar to New Heights
Explore the surge in rental yields in Cyprus and Greece, fueled by increasing overseas interest. Uncover the investment opportunities now!
Explore the surge in rental yields in Cyprus and Greece, fueled by increasing overseas interest. Uncover the investment opportunities now!
Read more