House Prices in the Netherlands Up By Double Digits in October

Hold onto your hats — house prices in the Netherlands are climbing fast! October 2024 saw an 11.5% jump in the cost of existing owner-occupied homes compared to last year. That’s the biggest annual increase in more than two years. And if you think that’s wild, prices also crept up 0.8% from September to October.

Picture this: the average price of a home last month hit €467,355. What’s driving this surge? A combo of higher wages, historically low mortgage rates, and a pretty tight housing supply.

Home Sales Are Booming

But wait, there’s more. It wasn’t just prices that soared—home sales took off, too. 18,131 homes changed hands in October, a 15.4% increase compared to October 2023. All in all, 2024 has already seen over 164,000 homes sold, up nearly 12% from last year.

If you’re in the market to buy, here’s the kicker—options are super limited. The market tightness indicator (yes, that’s a real thing) was sitting at 2.4 in the second quarter. That means buyers had only 2.4 homes to choose from on average. Translation? You’ve got to act fast if you find something you love.

What’s Next?

And the future? Experts are betting on prices going even higher. With people able to borrow more money, mortgage rates staying low, and not enough homes to go around, this trend doesn’t look like it’s slowing down anytime soon.

Bottom line? Whether you’re buying, selling, or just watching from the sidelines, the Dutch housing market is buzzing and showing no signs of cooling off.

Read Also: The Expat’s Guide to Buying a House in the Netherlands

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