The cost of renting a home in the free sector in Amsterdam has never been so high. It has reached record levels, with a rise of 5.6% in the previous quarter, according to research by rental agency Pararius.
Remarkably, the rents in the rest of the Netherlands have remained stable for years, much below the record levels seen before the economic crisis. In the second quarter Pararius even recorded a small decrease of 0.1 percent.
Cost of renting in Amsterdam almost half higher
Tenants now pay an average of €19.31 per square metre, topping the previous record of €18.97 which dates from the third quarter of 2008.
The cost of renting in Amsterdam are almost half higher then elsewhere in the Netherlands. On average, prices in the Netherlands have dipped by a marginal 0.1% to €12.42 per square metre.
‘The high cost of buying property in Amsterdam is the main cause,’ says Pararius director Jasper de Groot. ‘Just 32% of Amsterdam houses are owned privately, compared with 60% in the country as a whole.’
In addition, the shortage of houses in Amsterdam with rents of between €700 and €1,000 and the large number of expats in the capital are also pushing up rents, De Groot said.
Average renting price in Amsterdam
The average price of a rental apartment on the Pararius housing platform is now €1,263.
(Source: NOS, Huren in Amsterdam)