In an attempt to make the housing market more accessible for first-time buyers, the Dutch government will make it easier for prospective buyers to take out larger mortgages from 2023, and is looking to set up a scheme that provides financial support for those hoping to buy property but struggling to finance the purchase.
According to recent figures from the Netherlands Bureau for Economic Policy Analysis (CPB), many prospective buyers should be able to take out bigger mortgages from 2023. If the average interest rate on Dutch mortgages remains the same next year, and if salaries rise by the 3,7 percent predicted by the CPB, then most households will be able to borrow up to an additional 10.000 euros compared to this year, NOS reports.
In addition to these changes, the Dutch government has agreed that, for couples who choose to buy a home together, the full amount of both salaries will be taken into account when calculating the maximum mortgage.
While this news has been welcomed by many, it’s worth noting that nothing has been guaranteed. Firstly, Statistics Netherlands (CBS) reports that salaries increased by just 3,5 percent in October, suggesting that the CPB’s figures are overly optimistic. Furthermore, the additional cash will only be available if mortgage interest rates remain the same, which is unlikely considering they have already risen sharply this year.
In addition to these changes to mortgages, the Dutch government is also setting up a fund to help individuals cover the cost of buying a house in the Netherlands. At the request of the Christian Democratic Appeal (CDA), the cabinet will make 40 million euros available for the new National Fund for Affordable Owner-Occupied Homes (Nationaal Fonds Betaalbare Koopwoningen).
“Everyone in the Netherlands should be able to live affordably,” says the CDA’s Jaco Geurts. “However, owner-occupied homes have become unaffordable for an increasing group of people. It is especially difficult for first-time buyers to find a home for sale. They need a helping hand,” he told RTL Nieuws.
According to the AD, “individuals and families with a gross annual income between 40.000 and 65.000 euros will soon be able to receive a discount of up to 75.000 euros on the purchase of a new-build home.” One key detail of the fund, however, is that the money as well as a proportion of any profit must be repaid once the property has been sold. If the property has depreciated in value, then the amount to be repaid will be reduced.
Subscribe to our weekly newsletter
Victoria grew up in Amsterdam, before moving to the UK to study English and Related Literature at the University of York and completing her NCTJ course at the Press Association…
JOIN THE CONVERSATION (0)
Having a baby after 2024 will cost parents in the Netherlands an extra 30.000 euros
11 best Christmas markets to visit in the Netherlands in 2022
November 2022: 9 things expats in the Netherlands need to know
Government to make it easier for people in the Netherlands to buy a home
NS confirms even fewer trains will be running from November 7
Here is a selection of articles, news and features you may also like.
HR / Recruitment
We would like to provide a working person with the opportunity to sublet this apartment for the period of one year (January 2023 – January 2024) as we …
Excellent location in the heart of Amsterdam Super room available, This beautiful city room is located on the 3th floor. The room is located between …
Beautiful, completely furnished apartment available in Flushing, the south of the Netherlands. On walking distance of the beach, city center, supermarkets, shops, restaurants, gym etc. …
I’m looking for someone to take over my current flatmate’s room at the start of December/January. I’m 24, work from home fulltime and have the …
Find a job, rent out your room, win tickets and more…
Receive the IamExpat Weekly and Special Offers from our Partners
©2022 IamExpat Media B.V.