Prices for real estate in Amsterdam increased drastically

January 10, 2008 - Amsterdam

Prices for real estate in Amsterdam increased drastically the last year, estate agents association NVM said on Thursday.

In the last 3 months of 2007 the price for an average house in Amsterdam has gone up with 7.7% up to 272.000 euro. Especially apartments have gone up in price with an average of 8%. In the rest of Holland the price has only gone up with 1.2%.

In Amsterdam there has been a total price increase in 2007 of almost 14%. This is the highest % in Holland. The rest of Holland had an average price increase of 4.3%.

NVM chairman Ger Hukker told that at this moment it is very difficult for people on low or middle incomes to afford their own home. 'It is this group of home-buyers who are hit harder than most by other related costs such as property tax and energy price rises,' he said. 'These costs are also going up sharply and weigh more heavily on first-time buyers than people who are upgrading to a bigger home.