“House price increases to level off this year”
House prices will continue to rise in the Netherlands in 2008, but will level off at a certain point.
3 January 2008
AMSTERDAM – House prices will continue to rise in the Netherlands in 2008, but will level off at a certain point, the Telegraaf reported on Thursday on the basis of a survey among mortgage lenders and brokers’ organisations.
The rising mortgage interest rate and the continuing shortage on the housing market will not make homes any more affordable, according to the banks and brokers surveyed. The shortage will continue in the coming years as a result of lagging new build production.
The pressure on the cheaper housing segment will increase partly because housing costs will rise 17 percent for homebuyers in the coming four years, compared to just 4.5 percent for renters, brokers’ association NVM calculates. This is partly due to rising municipal taxes.
[Copyright Expatica News + ANP 2008]
Subject: Dutch news