Dutch folks spend a big proportion of their earnings on housing prices

Dutch folks spend a big proportion of their earnings on housing prices. On common, that is about 23 % of earnings.

That’s greater than in lots of different nations within the European Union, in response to figures from the Central Bureau of Statistics (CBS). The figures additionally present that fairly a couple of younger folks within the Netherlands dwell alone.

The Netherlands ranks sixth amongst all EU nations when it comes to housing prices. Greece is primary; Residents there spend greater than 34 % of their earnings on hire or mortgage. Denmark, Germany, Luxembourg and Bulgaria additionally spend extra on housing than the Netherlands.

Normally, housing prices are highest in wealthy nations, explains Peter Hein van Mulligen, chief economist at Statistics Netherlands.

In keeping with Van Mulligen, Greece and Bulgaria are additionally within the prime 5 as housing prices are measured as a proportion of earnings: “Bulgaria has one of many lowest incomes in Europe , which implies that housing prices are rapidly taking on a bigger share of earnings. “.

Regardless of the housing scarcity, Dutch folks of their late twenties typically dwell alone, experiences CBS. Within the Netherlands, about 17 % of younger adults between 25 and 30 dwell at dwelling. That is a giant distinction with Croatia, for instance, the place greater than 80 % of younger adults on this age group nonetheless dwell at dwelling.

“There are additionally cultural and social variations between the nations,” says Van Mulligen. “In southern Europe it’s extra widespread for younger folks to remain at dwelling longer, and within the nations north that is simply the alternative. And Holland can also be a part of that.”

Since 2015, rental costs within the Netherlands have elevated by 18.5 %. This places the Netherlands in the course of Europe; on common, rental costs in Europe rose by greater than 13 %.

In Central and Japanese Europe, rents rose a lot quicker from 2015. In Lithuania, for instance, the rise was 68.2 %.