Dutch home prices are slightly lower than year before

Dutch home prices are slightly lower than year before

According to Statistics Netherlands the prices of existing owner-occupied dwellings were on average 0.5 percent lower in January 2014 than in January 2013. The price drop relative to one year previously is less substantial than in in December, when residential property prices fell by 3.8 percent.

Although prices of existing owner-occupied homes were still below the level of the same month last year, the price level has remained fairly stable over the past seven months. The price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – reflects price changes of existing owner-occupied dwellings in the Netherlands.

In January this year, prices of existing owner-occupied dwellings were at the same level as eleven years ago. They were 20.3 percent below the record level registered in August 2008.

In January 2014, 8,905 homes were sold, an increase by 42.3 percent relative to one year previously. New mortgage regulations were introduced on 1 January 2013. Presumably, many house buyers have taken advantage of the possibility to avoid the new regulations by taking out their mortgage prior to 1 January 2013. This resulted in a lower demand for residential property in January 2013.

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