Price new-build home rises most in five years | Money

Prices of new and existing owner-occupied homes in the European Union were on average 6.1% higher in the first quarter of this year than in the same period in 2020.

House prices rose the most in Luxembourg at 17%, followed by Denmark (+15.3%), Lithuania (+12%), the Czech Republic (+11.9%), and the Netherlands (+11.3%).

Only in Cyprus was there a decrease of about 6%.

In the first quarter, 66,627 existing owner-occupied homes and 6,794 new-build homes were sold in our country. This is respectively 29.2% and 4.2% more than a year earlier.

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The trend of last year, when the number of transactions for both existing and new-build homes was higher in all quarters than a year earlier, will continue in the first quarter.

The transaction price of a new-build home was on average 16.9% higher, the largest increase since 2015. An existing owner-occupied home was on average 10.3% more expensive than a year earlier, the highest year-on-year increase in almost 20 years.

House prices continued to rise by an average of 20% in the second quarter of this year, the Dutch Association of Real Estate Agents (NVM) reported last week. Such an increase has not occurred for more than forty years. The average selling price of a home is now €410,000.

Prices rose to 30% in part of the Northern Netherlands, including in East Friesland and the top of Overijssel. In The Hague, Rotterdam and Utrecht, price growth was more than 20%. Amsterdam climbed out of the ‘trough’ with an increase of 14%.

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