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Rents increasing as number of available private properties falls28 April 2014, by Alexandra Gowling
The number of private homes that were available for rent in the first quarter of 2014 from real estate agents decreased by almost 24 per cent compared to the same time last year, while the average rent rose by 0,7 per cent.
The number of rental transactions also decreased by nine per cent, as the demand for rental housing in the private sector dropped by much less than the rental offer, which means rents may continue to rise.
Changes in the Dutch rental market
These figures come from Pararius, a Dutch platform for rental properties. Pararius CEO Jasper de Groot said that the climate in the rental market today feels very different to a year ago.
"The sharp decline in the rental offer is due to the crisis in the housing market, which bottomed out in 2013, that saw many more people than usual renting their unsold properties. Now the market has picked up again, far fewer private owners are choosing to rent out their second property."
Greatest demand in medium price range
Demand for rental housing is greatest in the medium price range between 700 and 1.000 euros per month. Most prospective tenants look in this segment, particularly first-time buyers who want flexibility, but might also be having trouble getting a mortgage.
Nevertheless, on Pararius the average rent of a property in the private sector in the first quarter of 2014 was 1.237 euros per month. The average rent at the start of 2012 was 1.206, which is a 2,5 per cent increase in two years.
Rent highest in Amsterdam
Renting in Amsterdam is on average 25 per cent more expensive than the four other major cities of the Netherlands (The Hague, Rotterdam, Utrecht and Eindhoven).
The average rent in Amsterdam is now 1.816 euros per month, compared to the Dutch average of 1.232 euros, which is more in line with the prices in the other cities.
In fact, properties North Holland are in general the most expensive, while the cheapest are to be found in Drenthe.
Properties in Amsterdam are also the fastest to be rented: they stay online an average of 75 days. In The Hague, on the other hand, properties are the slowest to move.
Student housing in the Netherlands
In contrast to private housing, there is an increasing number of student rooms being offered for rent in the Netherlands. Only Rotterdam, Nijmegen and Maastricht had lower numbers available in 2013 than in 2012, according to online student rental platform Kamernet.
Alike the with private market, however, prices also increased: by 1,4 per cent from 2012 to 2013. The increases were highest in Utrecht and Maastricht, while rents dropped in Groningen, Rotterdam and Tilburg. Average rent for a room in the Netherlands was 420,87 euros in 2013.
Most expensive Dutch cities to rent
(euros per m2 per month)