Housing market in Netherlands collapses
Time of expensive houses has passed and fewer houses are being bought, say National Estate Agents Association.10 July 2008
THE NETHERLANDS - Dutch estate agents say the housing market in the Netherlands has collapsed.
The National Estate Agents Association says the time of huge price rises has passed and that fewer houses are being bought. This is due to the economic downturn, inflation and rising interest rates.
The average purchase price of a house has risen in the past three months. However, after an adjustment for inflation, that rise comes to only half a percent.
Quarterly figures from the association show that in June 2008, 25 percent fewer houses were sold than in June 2007.
However, the estate agents believe that the market can revive quickly, because the demand for owner-occupied properties is still greater than the supply. They also think it notable that despite the downturn, prices for flats have risen three times more than those for family houses.
[Radio Netherlands / Expatica]