Research by the Netherlands Real Estate Association (NVM) into the state of the Dutch housing market shows massive recovery between 2013 and 2014.
The NVM reports that in 2014, home sales recuperated to levels unseen since the second quarter of 2008, before the economic crash took its toll.
The last quarter of 2014 saw especially strong growth. During that period, real estate agents facilitated 34.622 home sales. This number is 30 per cent higher than in the last quarter of 2013, and nearly twice as high as during the mid-crisis period.
Of all housing types, apartment sales saw the greatest improvement in 2014, increasing by more than 38 per cent.
These positive numbers led NVM chairperson Ger Hukker to declare that the Dutch housing market has moved on from the crisis, and barring interference from worldwide political instability, it is reasonable to expect further growth in 2015.
Continued optimism is justified, he claimed in January, despite restrictive financial measures introduced at the beginning of the year, including stricter caps on maximum borrowing capacity.
Sure enough, housing sales have continued to grow since the beginning of 2015. In January, numbers were up 6 per cent from January of 2014.
Market recovery also means an increase in the average property price. Buyers at the end of 2014 paid an average of 215.000 euros for a home: 3,5 per cent more than in 2013, and 5 per cent more than during the heat of the crisis. Apartments cost on average 4,8 per cent more than a year prior.
2014’s market recovery affected some regions much more than others. It was most notable in eight regions around Amsterdam, in Utrecht’s Oog in Al, and in Belcrum in Breda.
Markets in Gelderland, Groningen and eastern parts of Noord Brabant, meanwhile, saw less improvement, with fewer homes available for sale.