Mortgage debt just over 40 percent of house value

In 2000 nearly half of Dutch households lived in a house they owned. This is the equivalent of 3.3 million households. A total 87 percent of home owners have mortgage outstanding on their homes. On average this debt amounted to 42 percent of the value of the property.

Home owners by age, 2000

Home owners mainly in 35-54 year age group

Home owners are mostly in the age group 35 to 55 years. Just over sixty percent of households in this age group are owner occupiers. The older someone is, the less likely he or she is to own the home they live in. In the age group 75 and older just over one quarter have their own homes.

Over 65: more than half have paid off mortgage

Young home owners in particular still have a mortgage outstanding on their homes. Only a minority of owner occupiers over the age of 65 have mortgage outstanding. Half of home owners aged between 65 and 75, and three–quarters of those aged over 75 have paid off their mortgage.

Average value of own homes, 2000

Average house value 189 thousand euro

In 2000 owner occupied homes were worth an average 189 thousand euro. For home owners aged over 45 the value was just over 200 thousand euro.

Mortgage debt equals 42 percent of value on average

For all home owners the amount of mortgage outstanding was on average the equivalent of 42 percent of the value of their home. The outstanding debt was largest in the age group to 35 years. On average 70 percent of the value of homes in this age group was still outstanding.

As homeowners are older, the outstanding debt accounts for a smaller proportion of the value of the home. In the age group 45 to 55 years, the outstanding mortgage was on average 41 percent of the value, while above age 75 it was only 5 percent.

Hans de Kleijn