House prices in Rotterdam above pre-crisis level

House prices in Rotterdam above pre-crisis level

In Q4 2016, prices of owner-occupied houses in the municipality of Rotterdam exceeded the pre-recession level for the first time. Across all provinces, the average price level of owner-occupied homes (excluding new constructions) was higher in Q4 2016 than one year previously. House sales reached an all-time high in 2016, as is shown in a survey on price developments of privately-owned residential property in the Netherlands, published by Statistics Netherlands (CBS) and the Land Registry Office (Kadaster).

Prices of owner-occupied homes (excluding new constructions) in Rotterdam peaked in Q3 2008 but plummeted by almost 16 percent to a low in Q2 2013. Now, over three years later, prices are 2 percent above the peak level reached in 2008. Among the four major cities, only in The Hague are prices still below the level of 2008.

Sales boomed in all 12 provinces, with Gelderland, Utrecht, Noord-Holland, Zuid-Holland and Noord-Brabant reaching record levels since the start of the measurement.

The volume of sales was substantial and considerably larger in 2016 compared to the previous year for all types of dwelling. Sales of flats, corner houses and detached houses reached the highest-ever volumes on record.

Source: CBS

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