November 29, 2020

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Property prices continue to rise despite the corona crisis, especially outside the Randstad | NOW

Property prices continue to rise despite the corona crisis, especially outside the Randstad | NOW

Real estate prices continue to rise despite the corona crisis. It is noticeable that the greatest madness can no longer be seen in Amsterdam. The prices in the city of Groningen rose compared to the previous year by 11.6 percent and in the capital by 5.7 percent, reported the real estate market service provider Calcasa on Tuesday.

In any municipality with more than five thousand condominiums, prices in Amsterdam rose the least this year. Prices in the provinces of Flevoland and North Brabant rose sharply. In Noord-Holland, the long-standing market leader in large risers, real estate prices rose the least rapidly in the past quarter: by 7.9 percent. In the Netherlands, prices rose by 8.9 percent.

The real estate market service provider also examined the number of transactions. This increased significantly, especially in the suburbs around large cities.

Calcasa therefore concludes that an important change in regional distribution is underway in the housing market. In the past, prices rose the fastest in Randstad, now it is in the more provincial cities and rural areas.

According to Calcasa, the huge price hikes that have taken place in major cities since 2013 have made cities unaffordable for many people. Another housing requirement could also explain the postponement of real estate price increases.

For example, house hunters are placing more emphasis on additional living space and outside space due to the corona crisis, and people are less likely to be stuck on a trip to the office because they work from home. In addition, there is still a shortage of houses for sale in major cities. According to Calcasa, potential buyers are therefore also forced to look outside the city.