Dutch house prices dropped in 2023, but rose again in January 2024 (2024)

Figures released by Statistics Netherlands (CBS) and the Land Registry have revealed that prices for owner-occupied homes in the Netherlands were on average 2,8 percent cheaper in 2023 than in the previous year. The good news doesn’t last long though, as CBS has also reported that house prices were on average 1,8 percent higher in January 2024 than for the same period last year.

Prices increased for owner-occupied homes in the Netherlands

Existing owner-occupied properties cost 1,2 percent more in January 2024 compared to December last year. This comes after prices for housing in the Netherlands dropped by almost 3 percent in 2023, of which the biggest price drops were in Utrecht, Amsterdam and the Hague.

In 2022, price hikes reached a record-breaking high since measurements began in 1995. Costs for both houses and rental accommodation fell soon after, and this pattern continued into 2023. However, since June last year, property prices have been on the rise again, leading to the cost of buying a house in the Netherlandsto increase by1,8 percentin January this year compared to the same month in 2023.

More housing transactions in January 2024

Despite the higher prices, the Netherlands saw 14.452 housing transactions last month. This is 10 percent more than a year earlier. In January 2024, the average transaction price for an existing owner-occupied home was 433.285 euros, which is quite a bit higher than the average for 2023 of 416.000 euros, when 5,5 percent fewer homes were sold compared to 2022.

Even though more people managed to purchase a home in January, the Dutch housing market is still under strain. Plans for building new homes in cities like Amsterdam could be imperative to house the growing population of the Netherlands.

Thumb image credit:yosmoes815 / Shutterstock.com