The housing market in Amsterdam has always been a hot topic. And rightly so. The city has a unique charm that is hard to find elsewhere. This results in a constant demand for houses. Buying a house in Amsterdam has never been easy, and in the last two years it has become even more so. But what can we expect from the Amsterdam housing market in the near future? In this article we take a look at the expectations for the Amsterdam housing market. Read on to find out what opportunities lie ahead for homebuyers in the current Amsterdam housing market!
Current house prices in Amsterdam
Before we look to the future, it is important to look at the current state of the Amsterdam housing market. The Amsterdam housing market is currently very tight, with demand far outstripping supply. This has resulted in very high prices and a competitive market for buyers. Despite these high prices, the demand for houses in Amsterdam continues to grow strongly, mainly due to the popularity of the city.
Figures on the current housing market in Amsterdam
In the last quarter of 2022, the average price per square metre fell by 4.6% compared to the second quarter, to €7,316. The biggest drop was in Zuidoost, where the price per square metre fell by 10.9% to €4,144. The smallest decrease was recorded in West, where prices fell by 1.3% to €8,165 per square metre. The average number of days a house is on the market is currently 50, which is 20 days longer than in Q3 2002.
It seems that these corrections are leading to a healthier and less overheated housing market in Amsterdam.
Forecast for the Amsterdam housing market in 2024
According to ABN Amro, Rabobank, ING and DNB, house prices are expected to raise this year. This is mainly due to the fall in mortgage rates. This means that people can generally borrow more for their mortgage.
Below are the house price forecasts of various banks and supervisor:
ABN Amro expects prices to rise by 4% in 2024 and a further 3.5% in 2025.
Rabobank expects prices to rise by 4.5% in 2024 and 4.5% in 2025 (180,000 home sales in 2024 and 184,000 home sales in 2025).
ING expects a 4% rise in 2024 and a 4% rise in 2024 (195,000 home sales in 2024).
DNB expects prices to rise by 0.4% in 2024 and a further 2% in 2025.
Unfortunately, there are no specific figures for the Amsterdam housing market, but these housing market expectations will certainly apply to Amsterdam house prices to some extent.
Expected house prices in Amsterdam in 2025
Dutch house prices are expected to rise again in 2025. Inflation is expected to fall and mortgage rates are expected to fall slightly. If this scenario materialises, it is more likely that house prices will continue to rise faster than inflation between 2025 and 2030, rather than fall.
In addition, the housing shortage in the Amsterdam region is already around 45,000. The housing shortage in the Netherlands will increase to 400,000 homes by 2025, from 325,000 at present. This increase is mainly due to delays in building houses for which planning permission has already been granted. Unless the government succeeds in adding a significant number of houses by 2030, the housing shortage in Amsterdam will increase significantly in the coming years. This will hurt house prices.
House prices in Amsterdam are therefore likely to rise in 2025, as is the case in the rest of the Netherlands. Because of the large housing shortage in Amsterdam, house prices are also likely to rise more than outside Amsterdam.
Expected population growth in Amsterdam
Another important factor affecting the Amsterdam housing market is the expected population growth. It is predicted that the number of people living in Amsterdam will increase. This will logically lead to an increase in demand for housing. As a result, house prices in the bustling capital could rise again.
New housing developments in Amsterdam
To meet the demand for housing in Amsterdam, many new development projects are currently underway. These include the construction of new houses, flats and apartments. These construction projects should help to ease the pressure on rental prices.
Mortgage advisor Amsterdam
Looking for help with a mortgage in Amsterdam or a realtor? We offer help for first-time buyers, those moving on and those switching.