The average price per square meter rose by 4% compared to a year ago, reaching €7,750. Transaction prices in Amsterdam City Center remained at the same level as a year earlier, at €750,000. On average, therefore, slightly smaller homes were sold. Only Amsterdam Oud Zuid saw higher average…
The housing market in Central Amsterdamremained strong in the third quarter of 2020, with more transactions, higher prices per square meter, and higher transaction volumes.
For most people, the COVID-19 pandemic has not prevented them from taking their first step into the housing market. For many people, the economic situation hasn’t gotten any worse (unemployment has even dropped slightly) thanks to the government’s sweeping measures. Interest rates are still low, and people are feeling a greater need for space these days due to working from home, while the desire for a nice outdoor area is growing now that outdoor dining areas and restaurants are closed.
The average price per square meter rose by 4% compared to a year ago, reaching €7,750. Transaction prices in Amsterdam City Center remained at the same level as a year earlier, at €750,000. On average, therefore, slightly smaller homes were sold. Only Amsterdam Oud Zuid has higher average prices per square meter at €7,887 and an average transaction price of €843,000.
Number of transactions and term
With 226 transactions in the third quarter, the figure slightly exceeded that of Q3 2019 (219). Homes in Amsterdam City Center continue to sell quickly, with an average time on the market of 40 days.
A house or apartment with a garden is very popular
A house or apartment with a garden or rooftop terrace is the ultimate dream for many homebuyers.Buying a home in Amsterdam in this category is harder than ever. Approximately 85 ground-floor apartments or entire houses were sold out of a total of 234 transactions in Q3. Many families are looking for a family home with a garden, but for most families, especially within the ring road, this is no longer affordable. We often see families expecting their second child leaving the city.
Forecast for Q4 2020
We expect the housing market to continue performing well in Q4. If you would like information about buying or selling, please click here to access the contact form.
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