Rental prices outside major Dutch cities reach record high
According to figures from online rental platform Pararius, the average rental price in the free sector rose by 5,9 percent nationally last quarter compared to a year ago. The increase is especially apparent in cities outside of the urban city conglomeration in the Netherlands, where prices have reached a record high.
Soaring rent in the Netherlands
Rental contracts in the Netherlands are getting more expensive according to Pararius, which bases its conclusion on the 10.671 properties that were rented out via the platform in the last quarter. The highest rent increases were not found in the major Dutch cities of Amsterdam, The Hague, Rotterdam and Utrecht, as one might expect.
Instead, soaring rental prices, in regards to the average rental cost per square metre per month compared to the previous year, were observed in smaller cities such as Nijmegen, which saw an increase of 8,9 percent, Enschede where prices grew by 10,5 percent and Tilburg where rents soared by 13,6 percent.
Additionally, prices in Roosendaal climbed by 14,1 percent and 15,4 percent in Amersfoort. In Almere, rental prices also shot up by 18,8 percent and by 20,2 percent in Apeldoorn. In these Dutch cities, the average price per square metre for a property was the highest it has ever been on Pararius.
The highest rental increase however, was found in Zoetermeer, which is located in the Dutch urban city conglomeration. In this city, the average rental price per square metre per month increased by 20,8 percent.
Driven to smaller Dutch cities
According to the director of Pararius, Jasper de Groot, those searching for accommodation in the Netherlands are being driven to expand their search to smaller cities in order to find available and affordable housing. The increasing rent and popularity of smaller cities has everything to do with the limited number of available properties on the Dutch housing market and the increase in demand.
In the Netherlands, social housing accounts for 34 percent of the total housing supply and owner-occupied houses 58 percent, whilst free sector properties make up only 8 percent, as stated by De Groot. Pararius expects the increase in rental prices in this sector to continue, as the shortage of properties means that people are willing to pay the prices.