EUR-500-m plan to revitalise Dutch property market

2nd April 2009, Comments 0 comments

If the plan by the Dutch construction industry is approved, prospective buyers will no longer have to worry about not being able to sell their current house.

THE NETHERLANDS – The Dutch construction industry has come up with a plan to revitalise the housing market by giving prospective buyers a sale guarantee on their current house.

Property developers are involved in talks with local councils and provincial authorities on the creation of a EUR-500-million crisis fund to finance the plan.

Buyers would be paid 90 percent of the market value of their old home if it remained unsold after three months.

Sales of new homes have plummeted, partly because buyers are afraid of having to pay a double mortgage if they are unable to sell their current house.

Radio Netherlands / Expatica

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