Since the global credit crunch hit the Netherlands last year, the housing market has changed considerably. However, despite the insecurities in the current economy, the purchase of an apartment in Amsterdam will be a good investment on the long term.

More apartments are up for sale in Amsterdam compared to the same time last year, which means more choice for buyers. The current climate also gives prospective buyers more time to reconsider apartments they have viewed as well as more room for negotiation.

Moving from a sellers' to a buyers' market
Many buyers reacted with caution at the onset of the credit crunch; taking a wait and see approach, while others stepped out of the market completely.  However, less competition has translated into more opportunities for buyers.

The mortgage is an important factor in your monthly costs. Lower interest rates make taking out a new mortgage more affordable, and, in some cases, it is cheaper to buy an apartment than to rent one. However, banks have a different way of looking at your income status, and lending has dropped significantly. So make sure you know what you can afford, before you buy your house.

Before starting your housing search, it is advisable to meet with a mortgage advisor at the bank, or a specialised mortgage advisors agency. This will help you to get a realistic view of the housing market in Amsterdam and target the price range in keeping with your financial situation.

Buying a house often involves an investment of hundreds of thousands of euros and acting on incorrect information can result in expensive mistakes.
Here are some common misconceptions, along with the facts to set you straight.

Prices per sq metre
When a home is sold based on the cost per sq metre; this does not necessarily mean that the price per sq metre or value of other houses on the same street or in the same neighbourhood is identical.  For instance, the costs of two homes of the same size can differ considerably if one of them has a garden and the other only a balcony, or if one of them is in a bad state of repair and the other has been renovated. The price per sq metres merely serves as a guideline in determining the value.

 1 2 3 Next >