Houses in Amsterdam are for sale longer and longer and this affects house prices. These are put under an increasing amount of pressure. A question that is being asked more frequently is “Do I still have to overbid in Amsterdam? A relevant question, as there seems to be less competition.
Whether you should overbid is different in every situation, but we will try to answer this question as best we can. Starting with a commonly used sales strategy by estate agents.
Buyers agents’ strategy still the same
Listing a house on Funda with an attractive asking price in order to get lots of viewings. It is a sales strategy that is still (successfully) applied by many estate agents. The result is often more bids and that increases the chance of overbidding. In other words, most homes are put up for sale below market value with the idea that they will be outbid. However, we are seeing the amount of outbidding decrease. Sometimes you even have the chance to buy for the asking price or even below. But that depends very much on the house in question.
Overbidding is still topical
Homes in popular Amsterdam neighbourhoods, where everything seems to be right, are still being outbid. For example, a house with a south-facing garden (with extension possibilities) on its own ground with a functional layout, well-finished and in a good neighbourhood. This still attracts a lot of people and outbidding is seen quite often for these houses.
More opportunities for buyers in Amsterdam
In short, there are more opportunities for people who want to buy a house in Amsterdam. This is despite the higher mortgage interest rates, which means that people are able to borrow less money for a house. It is perhaps also interesting to note that the mortgage interest rates are still relatively low compared to early 2022 and the 10-year interest rates from 2012/2013 (average 4.5%).
Buyers agent’s advice
Would you like to know more about the Amsterdam housing market or about your chances in this market? Do not hesitate to contact Aankoopmakelaar Amsterdam without any obligations. If desired, we can also help you with financing and selling your current home through our partners.
