House prices Amsterdam exceed pre-recession era

A survey conducted by Statistics Netherlands (CBS) and the Land Registry Office (Kadaster) shows recent price developments on the housing market. In Q1 2016 it was for the first time since the onset of the recession that residential property prices in Amsterdam (excluding new constructions) were higher than in the pre-recession era.

Residential property prices in Amsterdam peaked in Q3 2008 and subsequently dipped by 18 percent to a low in Q1 2013. Three years later prices were more than 2 percent above the level observed in 2008.

In the past quarter, the average house price in Amsterdam was 337 thousand euros, i.e. more than 100 thousand euros above the nationwide average. The average market price in the other three major cities in the Netherlands was also considerably lower than in the capital.

Year-on-year house prices up across all Dutch provinces

Across all provinces and major cities in the Netherlands residential property prices were higher than in Q1 2015. As a result of price developments on the Amsterdam housing market residential property prices in the province of Noord-Holland grew most rapidly. House prices rose the least in the province of Drenthe (0.3 percent) and Drenthe also is the only province where house prices declined (by 0.5 percent) compared to the preceding quarter.

Price development of existing owner-occupied dwellings by region, 2016-I

Prices all types of dwellings higher

Prices of all types of dwellings are higher than in Q1 2015. Flat prices increased the most, soaring by nearly 9 percent relative to the dip in Q2 2013. Prices of detached homes rose the least, by 4 percent.

Share flats sold in Q1 relatively high

CBS reported recently that 42.5 percent of home owners live in semi-detached or corner houses. These dwellings have a similar share in house sales; 47 percent of homes sold in Q1 belonged to one of these residential property types. In relative terms, more flats than other types of dwellings are sold; 15 percent of home owners live in flats, but flats make up 31 percent of all house sales.

The interactive map housing market shows changes in selling prices of existing dwellings (i.e. excluding new constructions) in the Netherlands and changes in the number of transactions compared to the same quarter in the previous year.