Will the price of apartments in the Netherlands change: expert forecast
The real estate market in the Netherlands has been showing stable growth for several consecutive years. The cost of housing in the country is quite high, but the demand was only increasing. This trend continued until 2019, but at the end of summer prices for apartments in the Netherlands have stabilized.
According to experts’ analysis, the same inertia in the segment was observed in 2016. As of August this year, the average cost of housing in the country was 317 thousand euros, which is 6% more than in the previous period. Even then, experts talked about the approaching crisis in the market, but developers did not give this information due attention and expected further growth of rates.
Specialists’ fears were to some extent justified and now there is a decrease in sales volumes in the segment. The reason for this is a combination of factors, which for a long time influenced the market dynamics. This year 19600 transactions for purchase/sale of apartments were concluded, which is 7% less than last year.
Helps to improve the situation the state program aimed at mortgage lending. It allows you to buy apartments in the Netherlands on favorable terms. The government is loyal to those who want to buy a home, and in some cases is on concessions for early repayment of the loan. Such a policy gives its results, providing Dutch families with their own real estate, even at high prices. But despite a number of concessions, the problem of high housing costs remains relevant to the country.
Procedure for purchasing an apartment in the Netherlands
The real estate market in the Netherlands is also open to foreign investors. The transaction procedure itself does not cause any difficulties if you use the services of local real estate agencies.
It should be understood that the supply at the market is limited, and there are enough people willing. Therefore, when you think long and hard, you may miss the excellent option. In some cases, it is necessary to interrupt the price of other interested buyers by offering a little on top of the specified amount.
After negotiations between the parties have been completed and the price has been agreed upon, they proceed to the procedure of conclusion of a deal. First, a preliminary agreement is signed, and then a deposit of 10% of the required amount is made. If necessary, the buyer may use the services of the bank and arrange a mortgage. Then the participants of the transaction sign papers for completion, and the documents are submitted for registration in the Land Register.
According to the local legislation, drawing up and execution of documents is the responsibility of the notary, whose services are paid separately. Usually the commission of a specialist varies from 1 to 3 thousand euros. Another requirement is the presence of an interpreter in the process of notarization of documents.