The Netherlands built a record number of homes in 2022 - but it isn’t enough
New figures published by Statistics Netherlands (CBS) reveal that in 2022, a record 74.000 new homes were built in the Netherlands. Despite the fact that this is the highest number of new builds recorded since 2012, the figure still isn’t enough to keep up with targets set by the Dutch government to combat the national housing shortage.
CBS: The Netherlands built the highest number of homes in 10 years
Over 74.000 new-build properties were completed in 2022, which, according to CBS, is “the highest number of new homes since 2012.” This equates to approximately 0,9 percent more homes in the Netherlands, bringing the overall total to 8,1 million.
Perhaps unsurprisingly, out of all the cities in the Netherlands, Amsterdam saw the addition of the most homes, with almost 6.800 new homes being completed in the Dutch capital last year, amounting to an increase of 1,5 percent. Meanwhile, Utrecht, Rotterdam and The Hague all saw the addition of over 2.000 homes each.
Out of the 12 Dutch provinces, South Holland saw the biggest increase in the number of properties, with over 14.500 homes being built in the area in 2022. North Holland and Brabant also recorded significant growth (14.000 and 12.000 respectively). However, relatively speaking, it was Flevoland that experienced the largest increase, with the stock of residential properties growing by 1,6 percent.
Progress falls short of Dutch government's targets
While this growth is certainly a step in the right direction, it falls short of the targets set by the Dutch government. According to projections calculated in 2020, the Netherlands faces a shortage of around 331.000 homes, while forecasts predict that between 900.000 and 1 million homes need to be built by 2040 in order to keep up with growing demand.
In an attempt to tackle the national shortage of housing, the cabinet has set various construction targets for the coming years. The government’s target for 2022 was a total of 80.000 new homes - slightly higher than the 74.000 that were completed - and from 2024, the aim is to build at least 100.000 homes per year.
But it doesn't look as though this target will be met any time soon; rising construction costs and high interest rates leading the Economic Institute for Construction (EIB) to predict that only around 70.000 homes will be built in 2023 and 2024.
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