Dutch house price increase among EU top four

Rotterdam, balconies of a flat as seen from the Red Apple
© CBS
The house price index, which includes transaction prices of both new and existing owner-occupied dwellings, was up by 19.5 percent year on year in Q1 2022. This puts the Netherlands among the top four countries in the EU with the largest house price increase. This is evident from new figures released by Statistics Netherlands (CBS), the Netherlands’ Cadastre, Land Registry and Mapping Agency (Kadaster) and Eurostat.

On average, house prices in the European Union rose by 10.5 percent in Q1 2022. After Czechia (+24.7 percent), Estonia (+21.0 percent) and Hungary (+20.6 percent), the Netherlands saw the sharpest increase in house prices.

EU house price index*, Q1 2022
LandHouse price index (year-on-year % change)
Czechia24.7
Estonia21.0
Hungary20.6
Netherlands19.5
Lithuania19.1
Latvia17.3
Slovenia16.9
Ireland15.0
Slovakia14.2
Austria13.7
Poland13.6
Croatia13.5
Portugal12.9
Germany12.0
Bulgaria11.5
European Union10.5
Luxembourg10.5
Sweden10.3
Spain8.5
France7.1
Denmark6.7
Malta6.7
Belgium6.4
Romania6.4
Italy4.6
Finland4.3
Cyprus1.1
Source: CBS, Eurostat
* No figure available for Greece

Prices of new dwellings up by 14.8 percent

In Q1 2022, the transaction price of a newly-built home was on average 14.8 percent higher than in the same quarter of the previous year. The price of an existing owner-occupied dwelling was 20.3 percent higher, on average. This is the highest year-on-year increase in a quarter since measurements began in 1995.

Price development of owner-occupied dwellings
JaarKwartaalExisting dwellings (year-on-year % change)New-build dwellings (year-on-year % change)
2017Q16.86.1
2017Q27.76.3
2017Q37.66.2
2017Q48.210.2
2018Q19.011.5
2018Q28.811.7
2018Q39.216.3
2018Q49.010.2
2019Q17.99.5
2019Q27.216.0
2019Q36.36.3
2019Q46.28.7
2020Q16.64.6
2020Q27.54.2
2020Q38.110.2
2020Q48.88.7
2021Q110.316.8
2021Q213.013.1
2021Q317.512.4
2021Q419.614.2
2022Q120.314.8
Source: CBS, Kadaster

Fewer housing transactions in Q1

In Q1 2022, altogether 43,923 existing owner-occupied dwellings were sold. This is a 34.1-percent decrease relative to the same quarter last year. With 6,884 transactions, the number of new-build homes, on the other hand, rose by 1.7 percent. This is the highest number of new-build transactions in a first quarter since measurements started in 2015. In total, there were altogether 30.8 percent fewer transactions in Q1, the fourth consecutive quarter with a year-on-year decrease in transactions.

Development of dwelling transactions
JaarKwartaalNew-build dwellings (year-on-year % change)Existing dwellings (year-on-year % change)
2017Q121.930.3
2017Q210.216.0
2017Q32.61.1
2017Q415.78.7
2018Q1-9.4-6.8
2018Q2-6.2-9.3
2018Q3-8.5-7.3
2018Q4-13.8-14.6
2019Q1-6.6-9.0
2019Q2-9.9-0.8
2019Q3-5.43.5
2019Q4-20.15.6
2020Q113.58.7
2020Q225.64.6
2020Q321.85.6
2020Q453.511.9
2021Q14.229.2
2021Q29.9-3.9
2021Q313.4-13.4
2021Q4-10.8-21.0
2022Q11.7-34.1
Source: CBS, Kadaster

The figures on new-build dwellings presented in this news release are provisional and subject to revision.

Sources

Related items