Have you noticed that it is becoming more difficult to purchase a property in Amsterdam without going into a bidding war with fellow house hunters? As CBS reported on February 2018, property prices in Holland in January are 8,8% higher than in January 2017. This is the highest rise in past 16 years and the third highest in the EU. In comparison to the price peak in 2008, the average prices in The Netherlands are still 2% lower. But what about property prices in Amsterdam?
What is the development of property prices in Amsterdam?
According to Kadaster, while the average purchase price per apartment in 2000 was € 224.938, in 2017 it was € 407.670*. Prices in 2017 were 14% higher than in 2016. That is the largest rise in the past 17 years. This trend continues in 2018. In addition to that, the number of properties listed for sale has decreased. It is estimated by the NVM that we will experience the largest shortage of housing in 2018 before the production of newly built projects can balance the supply and demand on the market.
How can I increase my chances of buying a property in Amsterdam?
Buying a home is a big decision so it is only natural that you would like to take your time to decide on a property. However, once you find an apartment you are interested in, be decisive and take action quickly! The average time between when a property is listed and when it’s sold has decreased rapidly in Amsterdam. Make sure you examine all relevant documents in time before making a bid. Are you not familiar with the property market in Amsterdam? Then work with an advisor who will help you navigate the market.
*Be aware that the numbers mentioned above are only an indicator of price developments in the region. For the exact valuation of a property and a bidding strategy, please consult with your real estate agent.
Do you have any questions or comments about this article or are you considering buying a property in Amsterdam? Then contact us!