The Amsterdam housing market seems to be cooling off for real now

Average prices per square meter were 0.6% lower in Q3 than in Q2 2019

The Amsterdam housing market now appears to be cooling off for real. Our housing market reports show that the average price per square meter in the municipality of Amsterdam fell by 0.6% compared to the second quarter of 2019. Nevertheless, bids are still exceeding the asking price by an average of 5%. This suggests that asking prices have been adjusted downward somewhat.

Inside the Beltway

On average, we are seeing a slight decline in prices within the ring road. However, there are still exceptions: in three neighborhoods within the ring road, prices rose compared to the previous quarter. Specifically, we see a 3% increase in Oud West, a 2.2% increase in Watergraafsmeer, and a 1.4% increase in De Baarsjes.

In the other neighborhoods within the ring road, prices per square meter fell. The biggest declines were in Zeeburg (-3.1%), Rivierenbuurt (-3%), and the City Center (-1.2%).

Anouk Monnik, a real estate agent at Amsterdam at Home and a specialist in the high-end market: “There is a clear divide in the market. The segment with asking prices up to €400,000 is still under significant pressure. Here, we predominantly see sales through a bidding process, and the average overbid in this segment is 8%. In the segment above €1,000,000, we see few overbids, and homes are selling around the asking price.”

Outside the ring

In Amsterdam outside the ring road, the figures differ from those within the ring road. For example, we see an average slight increase of 0.6% in prices per square meter outside the ring road. Trends vary widely by neighborhood, ranging from a sharp 6% decline in Buitenveldert to a 4.6% increase in Zuid Oost and a 3.6% increase in IJburg. In Nieuw West, prices per square meter remained unchanged compared to the previous quarter.

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