Nearly half a million homeowners in the Netherlands live in properties with a high risk of foundation problems, the Dutch Authority for the Financial Markets (AFM) says. The regulator identifies almost 220,000 homes, owned by more than 120,000 people, where foundations already need repair.
The AFM estimates that repairs will cost 11 billion euros. Costs differ widely between households, but the average amount is about 92,000 euros.
More than 75,000 homeowners cannot pay these costs immediately. Together, they face a shortfall of 6 billion euros. For over 25,000 homeowners, taking out a loan is not a responsible option. This group lacks 3 billion euros in total, and the AFM says it is especially worried about them.
The regulator calls the foundation issues “complex” and argues that homeowners should not carry the full responsibility for repairs. It says preventive measures, such as better groundwater management, could limit future damage.
The AFM also wants the Ministry of the Interior, municipalities, estate agents, and housing platforms to give homeowners easier access to reliable information about foundation risks. Earlier detection, it says, can prevent problems from worsening. The regulator also urges authorities to explore additional measures to reduce the financing gap.
Many affected homeowners live in South Holland, Overijssel, North Holland, and Friesland. According to the AFM, repairs sometimes do not occur because homeowners are unaware of the risks. As a result, foundation problems may pass to new owners when a property changes hands.
Since the start of this month, valuation reports must include information on foundation risks. The Association of Homeowners (VEH) recently criticised this change. It says buyers only receive the information after signing the purchase agreement and argues that they should see it earlier. The AFM also wants this information to be available sooner, ideally during the orientation phase.
@ANP | News Brainport
