The tightness in the housing market continues, despite the corona crisis. The price of an average house in the Eindhoven region amounted to more than 380,000 euros in the last quarter, which is 11% more than that in 2019.
This is evident from figures of the Dutch Association of Estate Agents (NVM). Despite the increase in housing prices, more houses were sold. In Eindhoven and the peripheral municipalities, the number of transactions rose by 17% in one year. Furthermore, the sales went very quickly. Nation-wise, a deal is closed with 29 days on average. The number is three days shorter in the Eindhoven region.
An important reason for the tense housing market is the lack of supply. According to the Eindhoven broker Pieter van Santvoort, the supply in the region has reached a historic low in the past 20 years. “This is unprecedented. The corona crisis has not had any negative effect on the number of sales. On the contrary, the temperature on the market has only increased due to the tight supply. It is a great pity that this overheating puts so many people especially starters, offside. ”
Solution
“It is getting monotonous, but the only solution is new constructions on a large scale soon. The need is enormous and the backlog is great. There is mainly a shortage of affordable owner-occupied homes,” says Van Santvoort.
House prices also rose sharply in the rest of the Netherlands. On average, a house in our country now costs 365,000 euros.
Source: Studio040
Translator: Shufei
