The housing market in Amsterdam Oud Zuid remained strong in the third quarter of 2020, despite the fact that fewer expats are buying their first home in Amsterdam due to the COVID-19 crisis! While prices per square meter have risen, transaction prices have fallen slightly. Here’s what we’re seeing…
The housing market in Amsterdam Oud Zuid remained strong in the third quarter of 2020, despite the fact that fewer expats are buying their first home in Amsterdam due to the COVID-19 crisis! While prices per square meter have risen, transaction prices have fallen slightly. This may reflect the impact of the reduced presence of affluent expats looking for large family homes.
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 has not worsened (unemployment has even decreased slightly) thanks to the government’s sweeping measures. Interest rates also remain low, and people are feeling a greater need for space these days due to working from home. The desire for a nice outdoor space is also growing now that outdoor dining areas and restaurants are closed.
The average price per square meter rose by 5% compared to a year ago, reaching nearly €7,900. Transaction prices in Amsterdam Oud Zuid fell to €840,000 (a 10% drop!). On average, therefore, smaller homes were sold. In Q3 2019, the average size was 124 m²; in Q3 2020, that dropped to 107 m²!
Number of transactions and term
The 215 transactions in the third quarter were roughly on par with last year. Selling a home in Amsterdam Oud Zuid takes about 34 days—a quick turnaround.
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. Many families are looking for a family home with a garden, but for most families, especially within the ring road, that is no longer affordable. We often see families expecting their second child leaving the city. For those who can afford it, Amsterdam Oud Zuid does offer a nice variety of ground-floor apartments, the smallest of which was...
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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