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The Municipality of The Hague intervenes in the housing market with purchase protection

Photo: ANP

In the municipality of The Hague, as of 1 March next year, it will practically no longer be possible to buy an affordable house and then rent it out. The college of mayor and aldermen has formally approved a scheme to keep more affordable housing available for low- and middle-income people who want to live in the city. The city council still has to approve the plan. He will talk about it in January.

The purchase protection applies to houses with a WOZ value of up to 355,000 euros. Only with a permit it will be possible to buy a property in this price range and then rent it out. According to the municipality, a third of all houses sold in the major cities, including The Hague, came into the possession of investors last year. In The Hague this was even almost 40 percent in some neighborhoods.

These investors drive up prices, making it virtually impossible for first-time buyers and first-time buyers with a low or middle income to buy a house. As a result, they either have to rent expensively or they move out of the city. Under the scheme, approximately 800 paid homes would remain accessible for self-occupancy every year.

There are a few exceptions. For example, rental to immediate family members is allowed. Even if the owner of a home travels for a longer period of time, it is possible to rent out the living space. In addition, housing associations receive an exemption if they purchase a home in order to rent it out as a social rental home.

Several other cities have also made similar arrangements to relieve the housing market.



The Municipality of The Hague intervenes in the housing market with purchase protection
Source link The Municipality of The Hague intervenes in the housing market with purchase protection

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