Dutch House Prices Fall Again in February

Dutch House Prices Fall Again in February

Prices of existing owner-occupied dwellings sold in February 2012 were on average 3.4 percent down on February 2011. According to the price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – the price drop was approximately the same as in January. The index reflects price changes of existing owner-occupied dwellings in the Netherlands sold to private individuals.

All types of dwellings were cheaper in February 2012 than in February 2011. Flats have shown the most substantial price drop during the last three months. Residential property prices were lower than one year previously in all provinces. The most dramatic price drop was recorded in Groningen (nearly 7 percent). Residential property prices have dropped faster in Groningen than nationwide for nine months now.

In February, nearly 8 thousand dwellings were sold, i.e. over 18 percent down on February 2011.

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