Each quarter, developments in the Dutch housing market are tracked and published in a report. It includes all relevant figures for the quarter compared to the same period in previous years. So what do the numbers say about the housing market in Amsterdam?
Amsterdam housing market update
A few striking trends emerge in the Amsterdam housing market. The average selling price of an existing home in Amsterdam is €533,000, which marks a 16% increase compared to Q2 of 2020. Despite the high price, the number of homes sold in this quarter is the highest for a second quarter since 2019.
The national average selling price for Q2 is €410,000. That’s over €100,000 lower than Amsterdam’s average, even though it still represents a 20% increase nationwide. This is the largest price increase since 1995. For both Amsterdam and the rest of the Netherlands, the main reasons behind the price surge are the growing scarcity of homes and the continued rise in the number of offers above the asking price.
Price per square metre
As the average selling price increases, so does the price per square metre. The new record is €7,470 per m². Back in 2016, the price per square metre in Amsterdam was around €4,000. With this figure, Amsterdam now ranks first among the 25 most expensive municipalities to live in, based on price per square metre. However, there is a noticeable difference between homes and apartments. For an apartment, the average is €7,760 per m², while a house costs ‘only’ €5,720 per m².
Increase in number of homes sold
Why are so many homes being sold in Amsterdam in the second quarter? The answer lies in the number of new-build homes. Investors and housing associations had allocated a large budget in 2021 for the construction of new housing, both for rental and for sale. No less than 28% of homes sold in Amsterdam were new-builds, mostly apartments. However, this increase is still far from enough to ease the pressure on the housing market.
Who is buying homes in Amsterdam?
There are four main buyer types: first-time buyers, movers, investors, and expats. The number of first-time buyers in the first half of the year matches that of 2020. The number of people moving up the property ladder has increased, while the number of investors has dropped. The number of expats buying homes in Amsterdam has remained more or less the same.
Average selling time in Amsterdam
If you list your home for sale in Amsterdam, how long does it take to sell? The average selling time is 25 days. That’s shorter than in 2020, and the trend is still downward. The national average is 24 days, so Amsterdam is not much of an outlier in this regard.
Buying a home in Amsterdam? Work with a buying agent
With rising home prices and shorter selling times, having a buying agent is essential. Increase your chances in the Amsterdam housing market and contact Aankoopmakelaar Amsterdam for a no-obligation consultation.
