Rental prices in the private sector rose much faster than the price of buying a home during the first three months of this year. According to data from property platforms Pararius and Huurwoningen.nl, new tenants now pay an average of €21.12 per square metre each month. This is a 7.3% increase compared to last year, with apartments seeing the biggest price hikes. Currently, over 42% of available private rentals cost more than €2,000 per month.
This growth in rent has outpaced both the housing market and inflation for two quarters in a row. While the price of existing homes rose by 5.4% earlier this year, and the national inflation rate sat at 2.7% in March, rental costs continue to climb at a higher rate. This means the cost of renting is becoming significantly more expensive than other living costs.
The supply of rental properties is also shrinking. Although nearly 13,000 private rentals became available recently, many more were taken off the market. Overall, 1,869 more homes disappeared from the rental sector than were added. Interestingly, the number of people enquiring about each property has dropped to an average of 25—the lowest since 2021—but experts say this doesn’t mean the market is easier. Instead, there are simply fewer affordable homes left for people to apply for.
Finally, the trend of landlords selling off their rental properties seems to be slowing down slightly. Earlier this year, about 5.5% of homes for sale were former rentals, compared to 7.6% a year ago. While stricter rules and higher taxes have led many landlords to sell up in the past, this “sell-off” phase appears to be cooling off even as the shortage of available homes keeps pressure on tenants.
@anp | NEWS BRAINPORT
