Dutch Home Prices Fell Again in June

Dutch Home Prices Fell Again in June

Dutch housing prices slid back in June to their lowest level of the downturn, fresh proof that Dutch real estate remains one of the most troubled sectors of the Dutch economy.

Prices of existing owner-occupied houses were on average 1.9 percent lower in June 2011 than in June 2010. According to the price index of existing residential property – a joint publication by Statistics Netherlands and the Land Registry Office – the price drop is about the same as in April and May.

All types of dwellings were cheaper in June 2011 than one year previously. Prices of flats dropped most (2.4 percent). With 0.9 percent, prices of detached houses fell the least.

Prices fell in all provinces. With 3.7 percent, residential property prices declined most in Friesland. Prices in Groningen and Gelderland were 3.4 percent down on one year previously. Prices of residential property in Zeeland remained almost stable (– 0.1 percent).

Prices of existing residential property units dropped by 0.1 percent compared with May 2011. The price drop was somewhat less substantial than in the two preceding months.

Around 9.5 thousand existing owner-occupied houses changed hands in June, almost 13 percent fewer than in June 2010. In the first half of 2011, nearly 58 thousand houses were sold, a decline by 3 percent compared with the same period in 2010.

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