The number of home sales will not increase next year as previous forecasts expected. According to ABN Amro, which previously assumed growth of 2.5 percent, the number of transactions will decrease by that same percentage in 2024. According to the bank, this is due to the lagging completion of new construction projects. ABN Amro expects affordability to improve very gradually and indirectly through wage increases. “Because this takes time, the number of transactions will likely remain low.” ABN Amro expects 5 percent fewer transactions this year than last year.
House prices in the Netherlands are sliding amid higher mortgage rates and rising energy costs. Read more on the Netherlands housing market crash in our overview.