Home prices in the Netherlands will increase by between 5 and 8 percent this year, according to ING. By the end of 2024, owner-occupied homes will, on average, be well above the previous peak in July 2022, the bank said. “The fact that prices have recently risen sharply is mainly due to strong wage increases and the growing shortages in the housing market,” economist Sander Burgers said. Those benefiting from higher wages can spend more on a down payment and borrow more for a mortgage. That will lead buyers to offer more money for a home than before.