According to new figures from Pararius, it’s not just resale properties which are experiencing an increase in price, rental prices in the free sector are also rising all over the country. Compared to one year ago, prices have increased nationally by 5,3 percent.
During the last two quarters of the year, the increase in rental prices in Rotterdam and Eindhoven exceeded those in Amsterdam, Utrecht and The Hague. According to figures from Pararius, in Q3, the increase of rental prices in Rotterdam was the greatest of these Dutch cities, coming in at 14,3 percent on an annual basis.
Eindhoven showed the second largest increase in rental prices, namely a 12,1 percent increase compared with the same period a year previous. Whilst rental prices in the capital are not increasing with the same severity as those in Rotterdam, they are still increasing. In Q3, rental prices in Amsterdam went up by 3,5 percent.
Renting a place in the capital city is relatively expensive, with the average cost per square metre at 22,83 euros per month. Despite the great increase in price, renters pay on average 16,50 euros per square metre per month in Rotterdam. Of course, this does not mean that everyone living in Rotterdam pays this price, as rental prices increase to a greater extent in popular areas. The national average is currently 16,04 euros per square metre per month.
It’s not just large cities in the Netherlands that are experiencing an increase in rental prices; it’s those outside the urban conglomeration too. In fact, in a few cities, the rental prices rose more then they did in Rotterdam. In Apeldoorn, Enschede and Almere rental prices increased by 15,4 percent, 18,6 percent and 20,5 percent respectively.
In Apeldoorn and Enschede the average price per square metre per month is 10,24 euros and 11,15 euros. In Almere, the price is slightly higher, at 12,59 on average. In the last quarter, eight of the 12 provinces in the Netherlands saw higher rental increases in terms of percentage than the previous quarter. A few outliers were Friesland, Flevoland and Overijssel, with increases of 19 percent, 14,1 percent and 11,2 percent respectively.
It is important to note that whilst price increases may seem large when looking at the percentage increases, actual rental prices may be less than you think. For example, despite an increase of 19 percent and 11,2 percent in Friesland and Overijssel, these are among the provinces with the cheapest rental prices per square metre per month.