Housing affordability in the Netherlands is on the rise

Housing affordability in the Netherlands is on the rise-min
Posted by:Aleksandr Belov Posted on:Mar 22,2023

This is the conclusion of the Rabobank report.

What has happened? Despite rising mortgage rates and high inflation, Dutch housing is becoming affordable again. This is due to lower home prices and higher wages, according to a new report from economist Rabobank. In fact, home prices have fallen faster this year than previously expected, which is good news for buyers.

A quote…. “Home affordability is rising. It may seem odd given previous reports of rising mortgage rates and inflation, but housing is getting cheaper,” says Stephan Groot, housing market economist at RaboResearch.

Add to that the fact that wages are rising rapidly and people are working more. That means more money available for monthly payments,” the expert points out.

Rabobank experts believe that home prices will fall faster this year than previously expected. We expect home prices at the end of this year to be 7.6% lower than their peak in July 2022. We had previously projected a 3% decline in home prices in 2023. We have now revised our forecast to 4.2%.

Aleksandr Belov

Author and editor of the ultramodern-hotels.com blog

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