Less than 2 percent of Dutch houses affordable with average income
-
Loading... - Alessandra Bruno
- 03 Sep 2024
- 62 Views
- 2 Like
- 2 Comment
In 2024, less than 2% of homes in the Netherlands are affordable for individuals earning an average income, according to a study by De Hypotheker. The average gross salary in the country is €44,000, allowing for a mortgage of around €195,000 with a 10-year fixed rate. Although this is an improvement from 2023, when the average mortgage capacity was €171,000, the affordability of homes remains extremely limited due to high property prices.
For single-income earners, only 1.7% of homes on the market are within reach, compared to 1.1% in the previous year. In contrast, dual-income households with a combined income of €80,000 can afford approximately 29.1% of available homes, up from 24.4% in 2023.
The affordability crisis is particularly acute in larger cities like Amsterdam and Eindhoven, where only 0.1% and 0.2% of homes are affordable for single earners, respectively. Dual-income households fare better, with 13.4% of homes in Amsterdam and 19.7% in Eindhoven being within their budget.
Mark de Rijke, commercial director of De Hypotheker, highlighted that despite slight improvements, the housing market remains largely inaccessible for single-income earners, who are increasingly disadvantaged compared to dual-income households. This trend underscores the growing disparity in housing access based on income structure, with singles finding it much harder to secure affordable homes.
The study calls for a more diverse housing supply to address these inequalities, alongside efforts to alleviate the broader housing shortage in the Netherlands.
Claudia Spagnuolo
❤Claudia Spagnuolo
❤