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Dutch home sales recover again after two years

Home sales in the Netherlands have fallen for eight straight quarters, but are picking up again, according to a home valuation firm. Carcasa said in its quarterly report.

In the first quarter of 2023, a total of 230,000 homes were relocated. Still, it decreased by 7.5% compared to the same period last year. However, the decline was much smaller than in the second quarter of 2022, when Calcassa recorded the largest year-on-year decline of 21.1%. “Since then, we have seen home sales come out of the trough and on an upward trend,” the company said.

As is the general case for the Dutch housing market, Amsterdam leads the general trend in the Netherlands. In April, the year-on-year decline in home sales in the Tokyo metropolitan area was just 3.3%.

Carcasa also reported that housing affordability has deteriorated sharply over the past year, partly due to rising mortgage rates. Dutch homebuyers spend an average of 23.2% of their monthly income on housing, according to the company’s Affordability Index. A year ago it was still 15.2%. This deterioration will push affordability back to where he was in 2009, shortly after the credit crisis erupted.

https://nltimes.nl/2023/06/12/netherlands-home-sales-picking-2-year-dip Dutch home sales recover again after two years

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