On average, the houses changed hands for € 344,217 last month. That was a little less than in October, when the average retail price was just over 350,000 euros. Last month, the land registry recorded a total of 18,449 real estate transactions.
That is almost 1% more than a year earlier. In the first eleven months of this year, 209,303 apartments changed hands, an increase of almost 7% compared to the same period last year.
The real estate market has long been under severe bottlenecks. The supply of homes for sale has shrunk significantly while many people are still looking to move. Mortgage rates are also still very low. As a result, buyers compete heavily with each other and starters struggle to get another home. Experts have been saying for a while now that many more houses should actually be built.
So far, there has been absolutely no talk of a corona slump in the real estate market, as many economists had previously expected. The real estate agency NVM recently predicted that property prices are expected to continue to rise significantly in the near future.
ING experts think differently. You said last week that next year house prices will likely fall for the first time in five years. “First, the number of home sales will fall because people are postponing their move due to rising unemployment and lower confidence,” said ING economist Mirjam Bani. After that, according to her, a slight fall in prices will likely follow.
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