Figures from the Dutch land registry (Kadaster) have revealed that there has been an increase in the number of rental homes sold in the second quarter of 2024. While this means there are more properties available for purchase on the Dutch housing market, house prices have also experienced the largest increase in two years.
Kadaster reported that from April to June, private landlords in the Netherlands had sold more rental properties than they purchased. There were a total of 12.000 rental homes sold during this period, of which 5.900 were sold to individuals planning to live in the houses themselves.
This drop in rental housing supply can be attributed to the introduction of the Affordable Rent Act, which was put into effect in July this year. Landlords are selling off cheaper properties in particular and this is expected to continue, according to Kadaster spokesperson Paul de Vries. “This will happen gradually over the next two years, when the last temporary rental contracts expire and private landlords can sell off their properties,” said De Vries.
Together with the Rent Act, the government also scrapped temporary rental contracts, making it more difficult for landlords to get rid of their tenants. Some landlords are now using extreme measures to get their tenants to move out so they can sell the property while empty. According to De Telegraaf, there have even been cases of landlords offering tenants up to 20.000 euros to cancel their rental agreement.
“I get calls every week from landlords who want to get rid of a property and want to know their options,” said Jari Scheepers, a lawyer from Reijnders Advocaten. “Usually I have to disappoint them. If the tenant [with a permanent contract] behaves well and pays the rent on time, then they can stay where they are.”
According to Statistics Netherlands (CBS) and Kadaster, housing prices were 10,6 percent higher in July 2024 than for the same month last year - the largest increase in almost two years. The figures show that Dutch houses cost 1,4 percent more in July than they did in June of this year, and the trend is expected to continue.
The average transaction price for an existing owner-occupied home in July was 457.320 euros. Despite these high prices, 25 percent more houses were bought than a year earlier.
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