The Dutch government is set to launch a scheme to help first-time buyers purchase a new-build home. The scheme, which will start in the summer of 2024, can assist first-time buyers who are seeking to buy a new-build property with a value of less than 390.000 euros.
According to research reported by the AD, buying your first property in the Netherlands is now the hardest it’s been for 40 years. The Nationaal Koopstartfonds, which will fund buyers up to 50.000 euros towards their first home, will start in the summer, and experts hope that it will aid the process of purchasing first homes.
The Ministry of the Interior has put 70 million euros into the fund, and it is hoped that local authorities and property developers will also add to the fund. The idea is that property developers will apply for the subsidy on behalf of first-time buyers, and eventually, the buyers will repay the initial subsidy back into the fund when they sell the property.
The fund is open to first-time buyers who are looking to buy a new-build property with a value of less than 390.000 euros. However, to be eligible, you must not have an income higher than twice the median income. At the moment, the median income in the Netherlands set by Statistics Netherlands (CBS) is 39.100 euros a year, meaning that those on less than 78.200 euros should be eligible for the new fund.
Property purchases could be subsidised by as much as 50.000 euros thanks to the new scheme. There are also a number of other schemes available from local and regional initiatives for first-time buyers who are not eligible for the new scheme.