Homes in Amsterdam are staying on the market longer, which is putting pressure on prices. As a result, one question is being asked more and more often: Do I still need to offer above asking price in Amsterdam? It seems that competition is decreasing.
Whether overbidding is necessary depends on each individual situation, but we will do our best to give you a clear answer, starting with one of the most common sales strategies used by estate agents.
Sales agents are still using the same strategy
Listing a property on Funda at an attractive asking price to attract a high number of viewings. This strategy is still widely used and often successful. The result is more interest and a greater chance of receiving multiple offers, which increases the likelihood of overbidding. In other words, many homes are listed below market value in the expectation that buyers will compete. However, we are seeing a clear drop in how much buyers are willing to overbid. In some cases, you may even be able to buy a property at or below the asking price. But again, this depends on the specific property.
Overbidding is still happening
In sought-after neighborhoods in Amsterdam, where the property ticks all the boxes, overbidding is still common. For example, a home with a south-facing garden, expansion potential, private land, a practical layout, high-quality finishes, and a good location. These homes still attract many buyers and receive strong bids.
More opportunities for buyers in Amsterdam
In short, there are more opportunities for people looking to buy a home in Amsterdam, even with the current mortgage rates, which reduce borrowing capacity. It is worth noting that interest rates are still relatively low compared to early 2022 or the average 10-year mortgage rates from 2012 and 2013, which hovered around 4.5 percent.
Work with a buying agent
Want to learn more about the Amsterdam housing market or your specific chances as a buyer? Feel free to contact Aankoopmakelaar Amsterdam. If needed, we can also connect you with partners who can help with financing and the sale of your current property.
