What is the current state of the real estate market in Rotterdam?
real estate market in Rotterdam
The Dutch housing market is currently tight and prices are expected to rise. It is a fact that the real estate market cannot be predicted with certainty, but most experts and Dutch banks are of the opinion that house prices will continue to rise as the demand for homes remains high and there is a gap between the demand and supply of homes on the housing market.
According to Rabobank, this gap is likely to remain and grow over time as long as there is a demand for new homes. A shortage of construction materials and labor as well as the slow issuance of building permits is a major factor in this lack of supply.
Another factor that is also affecting the house market in Rotterdam is rising mortgage rates. As mortgage interest rates have increased over the years, it has become more expensive to purchase a home in the Netherlands and this is contributing to the higher prices of houses on the market.
What is the current state of the real estate market in Rotterdam?
One of the main reasons for this increase in prices is that there are fewer people buying a house and more are renting. This is a result of the fact that fewer people can afford to buy a house and a lot of these people are renting because they do not have enough money saved up for a down payment.
The other reason that there are fewer people buying a home in the Netherlands is that the price of housing has risen significantly over the past year and this is contributing to a decrease in demand for homes on the market. This is due to the fact that there is a large amount of competition on the housing market and the only way that sellers can compete with buyers is by raising their prices.
It is therefore not surprising that there has been a decline in the number of homes being sold on the real estate market in Rotterdam over the past few months. This is because there has been a huge drop in the number of people buying homes and as a result fewer are competing for homes on the market.
In addition to this there has also been a significant increase in the price of energy. This is because of the soaring inflation in the eurozone and this has led to a hike in the interest rate of the European Central Bank (ECB).
The ECB increased the interest rate by 75 basis points in July and this was followed by a further hike in October. This has been accompanied by an increase in inflation and this has impacted the Dutch economy significantly. The Dutch economy has enjoyed above-average growth for a number of years and this has been a boon for the real estate industry. The economy is now starting to experience some problems, which will affect the Dutch real estate market for some time.