The high house prices should hardly come as a surprise, but a terraced house for sale in Amsterdam raises eyebrows again. The outdated terraced house is just on Funda with an asking price of 1,985,000 euros.
It has only been two years since indignant reactions poured in about the price of a terraced house in the same neighbourhood, in Amsterdam South. At that time it was 1.5 million euros that made Amsterdammers wonder. Meanwhile, the housing market has become further overheated during the corona crisis and prices rose by about 30 percent nationwide, but there are outliers in some areas and segments.
The house that now on Funda is characterized by the large number of square meters. 207 square meters of living space is relatively much. “It is therefore less than 10,000 euros per square meter and that has apparently become the new normal in some neighborhoods,” says Gert Jan Bakker of the Woon! that informs and supports residents with housing problems, such as excessive rents or overdue maintenance.
,, There is a one-room house in the Pijp of 38 square meters for sale for 390,000 euros. That is a higher price per square meter. But in general, the smaller, the more expensive. And look at the bathroom and kitchen of that terraced house. It will certainly have to be rebuilt for a ton.”
NVM figures from the third quarter of this year show that the average house price for existing homes in Amsterdam per square meter is between 4400 euros (for a terraced house) and 7000 euros (for apartments).
‘A lovely family home’
The real estate agent selling the terraced house (not yet available for comment) speaks in the advertisement about a ‘mansion from the 1930s’. Both the front and back garden are sunny, there are three ‘generous floors’, seven bedrooms, a cellar and a loft. The great value lies in the ‘great location in Amsterdam South’, in a quiet green street and a short walk from a shopping street. ‘A lovely family home’, is how the house is advertised. With energy label F, insulation still seems an obvious investment for the new owner.
Who buys such a thing? That question now seems justified again. Neighbors of the terraced house worth 1.5 million euros were resolute two years ago: if you work in the Zuidas and would like to live in a family home in Amsterdam, near your boat on the canal, then it is not surprising that you have your wallet there. for pulls. “Let it be clear that there have never been houses for Jan Modaal in these kinds of neighbourhoods,” says Bakker soberly. “Thanks to the arrival of the Zuidas, the financial center where the lawyers and accountants with high wages are located, it has become even more expensive.”
Suppose you sell another house for 1 million euros, which you bought for 600,000 euros, then you already have to contribute 4 tons less
A calculation by comparison site Independer shows that you have to earn at least 350,000 euros gross per year if you want to get a mortgage for such a home. “But a lot of your own money often plays a role in these types of houses,” says mortgage expert Marga Lankreijer-Kos. “Suppose you sell another house for 1 million euros, which you bought for 600,000 euros, then you already have 4 tons less to contribute. Or people have had an inheritance, or receive a donation. There are also plenty of people who earn more than a hundred thousand, for example if you work in the legal profession or you have a top position at a bank.”
Indirect influence on tenants
Gert Jan Bakker tweets more often about outliers in the housing market. “You might think that the people we help with housing, mostly tenants, have nothing to do with this type of housing. Yet it reflects the housing market craze and the speculative nature of housing. And indirectly it affects tenants at the bottom. In some neighborhoods people still live in their social housing, with a protected rent of maybe 400 euros a month, but the landlords know that they could sell or liberalize it for a hefty amount if those tenants leave. The landlord would prefer to get rid of these well-protected tenants and tensions arise. Sometimes they are offered a lump sum payment and sometimes landlords try to get rid of the residents because the house would have to be renovated.”
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