Eindhoven house prices soar

Soaring housing prices in Eindhoven, report from Van santvoort, Apartments are expensive.
Photo credit: Studio040

Last year, house prices in Eindhoven rose by 19%. That is considerably more than the national and regional average.

A house in Eindhoven now costs an average of €329,000. A year ago, that was still €276,000. House prices in the Netherlands rose by eight per cent in 2019 and in the region surrounding Eindhoven by 13.4%.

Buying an apartment in Eindhoven is also quite expensive. The average selling price rose from €197,500 to €263,900 in one year. That is a massive increase of 33%. This is evident from the report of a local estate agent.

Van Santvoort Makelaars included these figures in its for the 2019 fourth-quarter report. These numbers are based on figures released by the Dutch Brokers and Valuers Cooperative Association.

Sales slowing

It seems, however, that house sales are stagnating. Although more houses were sold compared to the third quarter, fewer houses were sold compared to the same quarter a year earlier. Conversely, more houses were sold nationwide.

According to Van Santvoort Makelaars, the market in the Eindhoven region is getting tighter and tighter. In terms of availability of houses, Eindhoven scores just below the national average. Building more houses is the only way to meet the enormous demand.

“Eindhoven Municipality recently announced that in 2019 more houses that ever were built, about 3,000 units”, says estate agent, Pieter van Santvoort. That, however, has not relieved the pressure on the housing market. He advocates building more owner-occupied starter homes.

Too many mid-level rentals

“Currently, there is too much emphasis on the construction of mid-rental houses, with rents at or above €850 per month. For that money – and that is a gross monthly charge – starters can also buy a house of about €260,000”.

Starters often end up with a facing most of the issues. “In 2019, only 53 new houses and 23 new houses in the price category up to €260,000 were sold in the Eindhoven and Helmond areas, respectively. Santvoort says, “That number could be much higher if there is a more focussed policy in this direction.”

Source: www.studio040.nl

Translator: Chaitali Sengupta who gives Inburgering class in Meerhoven. More info here.

Editor: Melinda Walraven

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