Dutch home prices hit 2-year high in August – CBS

Home prices in the Netherlands reached two-year high in August 2024, as prices jumped by 11.2 per cent.

The prices were 1.1 percent higher in August compared to July, according to the price index for existing owner-occupied dwellings by Statistics Netherlands (CBS) and the Netherlands’ Cadastre, Land Registry and Mapping Agency (Kadaster) on Monday.

Dutch house prices recorded a peak in July 2022 followed by a decline for a year. Since June 2023, the prices have been increasing again. In August 2024, prices were 5.7 percent higher from the previous peak in July 2022, on average.

The Netherlands, already one of Europe’s most densely populated countries, has faced a worsening housing crisis in recent years. The population has grown faster than the number of available homes, driving up housing prices.

A recent increase in mortgage rates temporarily slowed the housing market, but prices have resumed their upward trend. The situation has been further exacerbated by a new rental law aimed at making housing more affordable. This law introduced rent controls on 300,000 units, making it less profitable for landlords to rent out their properties.

Attribution: Statistics Netherlands (CBS) & Bloomberg