Geldrop-Mierlo introduces compulsory self-occupancy housing rule

house with for sale sign
Photo credit: Studio040

The Municipality of Geldrop-Mierlo is intervening in the local housing market. Investors who want to buy up houses for resale or rental at a considerable profit will be barred by the municipality.

The municipality is doing this by introducing a self-occupancy obligation. In other words, after a house has been bought, it may only be occupied by the buyer for the first three years. Therefore, speculation in the form of rental or resale is no longer possible.

Implementation

The measures taken by the municipality are in response to the housing crisis that is plaguing Geldrop-Mierlo, just like the rest of the Netherlands. The municipality states that the notary will be important for the enforcement of the rule. They must notify the municipality the moment a house is offered for sale within the three-year term. Anyone who does not comply with the rules can face a hefty fine of at least 100,000 euros.

Exceptions

There are some exceptions to the rule. For example, renting to first- or second-degree relatives is allowed, as is the case with homes that are part of a commercial building. Temporary rental remains possible and may be permitted by the municipality in special cases.

Source: Studio040

Translated by: Yawar

Your advertisement here.

LEAVE A REPLY

Please enter your comment!
Please enter your name here