For the fourth consecutive quarter, the average price of a rental home in the private sector is falling. In the second quarter of this year you paid an average of 2 percent less per square meter than a year earlier, reports rental platform Pararius.
This concerns new leases for vacant homes, not existing leases. The rent is increased once a year, usually in July.
Expat stayed away
Rents in the major cities in particular fell due to the absence of expats due to the corona situation. “As a result, rental properties in the higher segment in large cities remained vacant,” says Pararius director Jasper de Groot. “Landlords adjusted rents downwards in order to attract a wider target group and prevent vacancy.”
Rents in Amsterdam, the expat city par excellence, fell the fastest of the four major cities. New tenants there pay 6.8 percent less than a year earlier. On average you now pay 21.53 euros per square meter in Amsterdam. This means that the rents there are still much higher than the national average of 16.37 euros.
In Rotterdam the rent fell by 4.6 percent to 15.58 euros, in The Hague by 0.9 percent to 16.06 euros.
Rents in Utrecht remained the same as a year earlier with a square meter price of 17.81 euros.
Return of foreign workers
According to Pararius, the expat market is now getting going, but it is still too early to say what the return of foreigners who temporarily stay in the Netherlands for work will mean for rents. “We will probably see that effect in the coming quarters,” says De Groot.
Rental housing belongs to the free sector if the rent is higher than 752.33 euros per month. The free sector in the Netherlands is relatively small, about 7 percent of all houses are free sector homes. There are therefore many more social rented and owner-occupied homes.
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