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Dutch house prices to fall 2.5% next year, according to ING

Economists at ING expect Dutch house prices to drop an average of 2.5% next year. This is largely a result of rising interest rates, meaning buyers can’t borrow as much to buy a home. ABN Amro experts previously said: Home prices plummet as well 2023.

Rising mortgage interest rates have a significant impact on sales prices. This is because rented space largely determines the amount a buyer can offer for a property. In addition, the attractiveness of buying a home as an investment will decline next year. One of the reasons is that the property investor’s transfer tax will be increased from his 8% to over 10%.

Additionally, the government is working on measures to introduce more regulation for mid-market rental units. This is expected to include limits on the maximum rent a property investor can ask.

The number of successfully sold homes will also decline next year. This reduction equates to an 8% reduction, bringing the total number of transactions down to 175,000 transactions. This year, economists expect him to have 195,000 transactions, down 15% from 2021 levels.

A tight labor market should mean no accelerated decline in house prices, but a surprisingly sharp rise in the unemployment rate could dampen housing demand. . Economists at ING said they do not expect the unemployment rate to increase significantly, even though banks expect the Netherlands to slip into recession. Structural housing shortages continue. In addition, governments have allocated substantial sums to partially compensate consumers for high inflation and sharp increases in energy prices.

ING emphasized that estimates for next year are highly uncertain. There is a nature.

https://nltimes.nl/2022/12/09/dutch-home-sales-prices-will-fall-25-percent-next-year-says-ing Dutch house prices to fall 2.5% next year, according to ING

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