Dutch property prices fall for fourth year

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New figures released by Statistics Netherlands show that Holland has not been one of the Eurozone countries to see any form of upturn in its domestic property market towards the end of last year.

In fact the Dutch property market continues to decline, with an overall house price fall of almost 7% in the year-on-year figures up to November 2012.

Although omitting commercial property sales, the figures make for grim reading in the light of a more positive picture emerging elsewhere on the continent.

The statistics are in line with another set of figures issued by the Dutch Association of Real Estate Agents, as reported in the Global Property Guide.

The values of residential properties dramatically fell by 9.14% over the period, meaning the median price of a Dutch home stands at €209,100.

When broken down, the figures revealed that apartments fared the worst with a fall of 7.5% whilst single-family homes fell by 6.6%.

It isn’t just the main population centres that are being hit – the trend appears to be the same throughout the country, with price decreases reported in each city and municipality reported in November.

Perhaps most worryingly though, whilst elsewhere in Europe major cities have seen their property values hold or even show small increases, Amsterdam’s performance was worse than the national average with a decline of 11.17%.

The new figures show that prices have now fallen every year since 2008, apart from when house prices edged up 1 point in 2010, and most commentators agree that 2013 shows no sign of turning things around.

Of course a depressed property market can present good value acquisitions for investors looking long term.

But as with all international financial transactions, UK residents looking to buy Dutch property should use a currency exchange specialist to make sure they make the most of the best euro/pound rates available.

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