The number of homes for sale rose to 52,000 in the spring, the highest level in seventeen years. Many apartments in particular were put up for sale. But the NVM real estate association is dissatisfied with the new-build supply: “It’s like mopping with the tap open.”
Many homes were also sold in the period from April to June. Some 42,000 homes got a new owner, according to new figures from the NVM. That was 15 percent more than in the same period a year earlier. Even 23 percent more apartments were sold.
The increase in sales is largely due to landlords selling off their properties since the rental rules were tightened. This sale is called ‘stripping’. There has been a wave of stripping for several quarters. This often involves apartments.
The stripping ensures that prices rise less quickly. The larger share of apartments in home sales slightly dampens the average selling price. In mid-2024, prices rose by 14.1 percent on an annual basis, but now that is 6.2 percent. Nevertheless, the average price of existing homes sold by NVM estate agents is now over 495,000 euros.
In Amsterdam, the price fell for the first time, by 0.4 percent. Still, you pay the most per square meter in the capital: an average of 8,000 euros.
Concerns about new construction
Although many homes are available for buyers, the NVM remains concerned about the housing supply and new construction. A survey among its members shows that six out of ten estate agents believe that there is too little new construction. The number of building permits issued, which is an indication of how much will be built in the near future, lags behind the ambitions. Rising costs and changing local requirements hinder construction.
“We continue to mop with the tap open if new construction does not better match what people really need,” says Lana Goutsmits-Gerssen, chair of the NVM housing group. She points to a mismatch between the supply of construction and what the market wants.
“We are now mainly seeing many smaller owner-occupied apartments for starters, while there is also a need for more affordable rental homes for households that cannot or do not want to buy directly. And for age-proof homes for the elderly who want to live smaller or more comfortably,” says Goutsmits-Gerssen.
According to experts, senior citizens’ homes are the way to get the housing market going. The Netherlands wants to build 290,000 of them, but there is little progress. Market parties such as private investors and project developers are still not picking up the construction for senior citizens enough.