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New restrictions: No more buy-to-let new build homes in Amsterdam

New restrictions: No more buy-to-let new build homes in Amsterdam

The municipality of Amsterdam wants to bring in new rules prohibiting new build homes that have been bought from being leased. If you buy a new build home, you will thus have to live in it yourself.

Unaffordable Amsterdam

By putting this rule in place, the municipality hopes to prevent the city from becoming unaffordable due to houses being bought up by private investors and subsequently rented out for extortionate prices.

The municipality could incorporate these restrictions in the ground lease conditions. The new restrictions would then apply to subsequent owners not just the first owner of the new build home. Construction alderman Laurens Ivens would like to see the restrictions apply to existing houses, however, such a step would require a law to be changed.

Plans and exceptions

The municipality is looking into whether it can make exceptions for family members, for example, parents who buy a house for their children. Additionally, possible risks and how the measure will be enforced are being explored.

At the end of 2019, the city expects to have concrete plans regarding the rental restrictions ready. The city council will then make a decision thereon.

Mina

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Mina Solanki

British girl living in the Netherlands, enjoying the sun *coughs*, I mean rain, and filling her time with adventures.

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