The Netherlands has more million euro homes, but are there still opportunities for people starting on the housing ladder? And what is happening on the interest rate front? Hereβs a round-up of the latest housing news.
More million euro homes
House prices have reached a new record and the Netherlands now has nearly 200,000 homes worth more than β¬1 million. So is there any hope for people looking to get a foot on the housing ladder?
Yes, there is although it is becoming more challenging, says Kenneth Leenders, chief executive of Expat Mortgages. βFor a start, houses might cost more, but we are also earning more,β he points out, referring to the average wage rise of 6.1% last year.
βWeβre also getting used to the new interest rates,β he says. βPaying 4-4.5% is seen as the norm. It does not shock anymore. And while interest rates will move a little, they are unlikely to go down much soon.β
Rental sell-offs?
But what about the shortage of supply? Reports that landlords are selling off much of their smaller residential properties β giving hope to first-time buyers β may also be exaggerated, Kenneth suggests.
βThis has supposed to have been going on for more than a year, but it is a very gradual thing,β he says. βThere is not going to be a sudden surge in properties on the market β not least because landlords are not going to sell if they have a sitting tenant.β
βSo I would say, if you want to buy, donβt wait. Just get yourself properly prepared so that you are ready to move if you find the right place.β
How much can I borrow?
Want to know how much you can borrow? Expat Mortgages has an online mortgage calculator which can help you work out your maximum loan.
The solar panel puzzle
Buyers can actually borrow more to pay for their home if they commit to investing in energy-saving measures such as extra insulation or solar panels. But given all the changes that energy firms and the government are making β charging extra fees, changing the rules on feeding energy back into the grid β do they still make financial sense?
βA lot of clients ask me if it is still worth having solar panels because the situation is extremely confused at present,β Kenneth says. βPrices have gone down a lot and the bottom line is, yes, investment-wise it is still worth it. But check things out carefully with your energy supplier.β
Ask your questions face-to-face
Expat Mortgages has been hosting online webinars for prospective home buyers for years, but the team is now out and about again to answer all your questions face-to-face.
βWeβve all become so comfortable working online, but we started to miss the personal touch,β says Kenneth. βSo we are increasing the number of offline events and meetings we organise. It is the best way to get to know our clients. It is much easier to discuss personal things when you are actually meeting face to face.β
The first hybrid meeting β so you can come along in person or watch online β takes place on June 6 at the Zandkasteel in Amsterdam and the doors open at 5 pm.
Then later in June and in July those of you looking to buy in the Eindhoven region can attend two in-person meetings. The team will be at the Discover India event at Dynamo on June 22 and at the High Tech Campus summer event on July 4. Check out all the events here.
By the way, Expat Mortgages also runs a partnership programme for employers with international workforces β so you can always ask your company to set up a meeting. Contact Kenneth directly to find out more.
Any questions?
If youβve got any questions about the process of buying a home in the Netherlands, you can always check out the FAQs on the Expat Mortgages website to see if they have the answers. Feel free to get in touch β they have an open chat line β if your question is not covered.