Dutch house price increase among the highest in the EU

Newly constructed dwellings in Rotterdam
© CBS
In Q3 2021, transaction prices of both new and existing owner-occupied dwellings in the Netherlands were on average 16.8 percent higher than one year previously. This puts the Netherlands once again among the EU countries with the largest increase in house prices. This is evident from new figures released by Statistics Netherlands (CBS), the Netherlands’ Cadastre, Land Registry and Mapping Agency (Kadaster) and Eurostat.

In Q3 2021, house prices in the European Union were on average 9.2 percent up on the same quarter one year previously. The Netherlands recorded the sharpest increase after the Czech Republic (22.0 percent), Lithuania (18.9 percent) and Estonia (17.3 percent). In all countries of the EU, house prices went up. The increase exceeded 10 percent in half of these countries.

House price index, Q3 2021
 House price index (year-on-year % change)
Czech Republic22.0
Lithuania18.9
Estonia17.3
Netherlands16.8
Iceland13.7
Luxembourg13.4
Slovenia12.9
Austria12.9
Latvia12.7
Hungary12.6
Germany12.0
Sweden11.3
Ireland10.6
Denmark10.3
Portugal9.9
European Union9.2
Croatia9.0
Poland8.9
Norway8.9
Bulgaria8.7
Belgium8.2
Slovakia8.0
France7.1
Romania5.9
Malta5.9
Finland5.0
Italy4.2
Spain4.2
Cyprus2.2
Source: CBS, Eurostat

House price growth larger and larger

The house price index includes transaction prices of both new and existing owner-occupied dwellings. At 16.8 percent, the price increase for owner-occupied dwellings was once again larger than in the previous quarter. This has been the case for six consecutive quarters. The average transaction price of new-build homes was 12.4 percent higher. Existing owner-occupied houses were on average 17.5 percent more expensive, representing the largest year-on-year increase in almost 21 years.

Price development of owner-occupied dwellings
JaarKwartaalExisting owner-occupied dwellings (year-on-year % change)New-build dwellings (year-on-year % change)
2017Q16.86.1
2017Q27.76.3
2017Q37.66.2
2017Q48.210.2
2018Q19.011.5
2018Q28.811.7
2018Q39.216.3
2018Q49.010.2
2019Q17.99.5
2019Q27.216.0
2019Q36.36.3
2019Q46.28.7
2020Q16.64.6
2020Q27.54.2
2020Q38.110.2
2020Q48.88.7
2021Q110.316.8
2021Q213.013.1
2021Q317.512.4
Source: CBS, Kadaster

Record number of new-build transactions

In Q3 2021, altogether 8,036 newly constructed dwellings were sold. This is the highest number of new-build transactions in a third quarter since measurements started in 2015. During the first nine months of 2021, a total of 23,621 new-build homes were sold. This was also the highest number over this period since the start of measurements.

New-build transactions
 Q1Q2Q3Q4
2021679287938036
202065218001708410740
20195745637058186998
20186151706861538757
201767897535672210161
20165569684065508779
20155031665163508353
Source: CBS, Kadaster

The figures on new-build dwellings presented in this news release are provisional and subject to revision.