House prices in and around Eindhoven are soaring. But there are almost no more houses that are for sale in Eindhoven. In the last six years, the supply has even been so limited.
This is evident from figures from the Dutch Association of Estate Agents (NVM) and VBO, the Association for Real Estate Mediation.
Low point
In the past quarter, there were just over 250 homes for sale in the city. A low point, says Eindhoven real estate agent Pieter van Santvoort. “We’re already predicting drying up of the housing market and that expectation has, unfortunately, come true.”
Bidding above asking price
The result is clear: a rise in house prices by more than eight percent to an average of €362.000. Also, sales are increasing, with a duration of about 25 to 30 days. Furthermore, in some 60% of sales, more than the asking price is paid.
Drop
According to Van Santvoort, additional construction should be accelerated. “The acceleration program that Eindhoven started in 2019 has been no more than a drop in the ocean for the average home buyer. Because new construction is also not really picking up steam, all in all, the future scenario seems dark.”
Source: www.studio040. nl
Translation: Chaitali Sengupta
