Rotterdam is also going for compulsory self-occupancy, for homes up to 355,000 euros

From 1 January, a self-occupancy obligation will apply in sixteen Rotterdam neighborhoods for people who buy a house with a WOZ value of up to 355,000 euros. In this way, investors should be barred from that part of the housing market, so that middle-income people have a better chance of buying a home. A self-occupancy obligation already applies to new buildings in Rotterdam.

Rotterdam is the second largest city after Amsterdam that has presented concrete plans for purchase protection. On January 1, a change in the law will make such plans possible. In Amsterdam, the self-occupancy obligation applies to the entire city, and to homes with a WOZ value of up to 512,000 euros. Other cities are also working on purchase protection, such as The hague. The municipality is not yet sure whether the scheme will apply to all homes or homes up to a certain WOZ value.

According to the municipalities, the purchase protection prevents investors from buying the properties and then renting them out to private individuals, who in this way have to deal with much higher monthly costs than if they had bought the house themselves. The measure is “good for the quality of life in vulnerable neighbourhoods”, according to the municipality of Rotterdam. Rental often leads to temporary occupancy and therefore “no pleasant residential area is created where residents know each other and say hello”.

Few exceptions for rental

Many homes in Rotterdam are bought by investors, showed from numbers which the regional broadcaster Rijnmond requested from the Land Registry. In Charlois, for example, this concerns 50 percent of the homes sold. Several neighborhoods in Charlois fall under the sixteen neighborhoods that Rotterdam has designated for purchase protection.

There are some exceptions to the self-occupancy requirement. A house may still be rented out to an immediate family member. Even if an owner goes abroad for a longer period of time, a house may be rented out, but a permit is required for this.

What are possible other solutions to the housing crisis? NOS op 3 made this video about it:

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