By
Lerize Weatherhead
Posted in buying pointers, Expats On
If you’re considering buying a property in the Netherlands, 2023 is shaping up to be a great year to do it. Prices are expected to rise steadily over the next few years, so getting in now could mean big savings down the line. Plus, with drops in the average house prices, it’s a buyers’ market. So if you’re thinking of making a move, now is the time.
The average house price in the Netherlands has decreased by 5% in the last year
The decrease in average house prices in the Netherlands last year could be a great opportunity for potential homeowners. It’s expected that house prices will drop another 3% in 2023 and 2% in 2024. Reduced prices across the country make it even more accessible to those who are looking to purchase their own property and begin building their perfect home. Despite this decrease, buying a house in the Netherlands still provides not only a secure investment but a place for you and your family to live and thrive. Homeowners can take advantage of the decrease by finding the best possible deal now, or taking some time to find that dream home they have always been searching for.
More reading:
https://www.rabobank.com/knowledge/d011326807-dutch-house-prices-expected-to-drop-further
Due to the rise of interest rates, the market is shifting and cooling down
For those looking to purchase a home, rising interest rates are great news! Generally, rising interest rates create a market shift whereby house prices begin to cool down. This means that buyers have extra negotiating power when making an offer on their dream home – as the seller may be more willing to lower the initially proposed price. Now can truly be a great time for potential new homeowners wanting to jump into the market! With rising interest rates and a cooling off of prices, buyers can feel confident in their ability to make a fair offer at an affordable sum.
The transfer tax discount limit will increase
People under the age of 35 have been given a unique opportunity to purchase their own homes with an increased transfer tax discount limit. People in this age group do not have to pay transfer tax if they purchase a house for 440.000 euros or less, something that isn’t possible for those in higher age brackets. It’s an excellent chance for young people to start investing in their future and create a stable financial basis upon which they can expand in the years to come. Furthermore, they will be able to enjoy all the joys of home ownership without having to worry about exorbitant transaction costs detracting from their purchases. Let’s take advantage of this generous opportunity and invest in our own futures!
The NHG limit will rise to € 405,000
If you’re thinking about buying a property and the purchase price or value comes in at less than 405.000 euros, then you can rest assured that you’ll be able to claim a mortgage with the NHG, something announced by them for 2022 when previously the limit had been 355.000 euros. This is also excellent news as it gives prospective homeowners access to far better mortgage deals through the scheme. For example, if your finances aren’t looking too great, then you may have to face up to paying a higher interest rate on a loan which could unduly add to your stress levels. If that’s the case then why not consider the NHG proposals, and take ownership of your dream home all the more achievable?
The one-time gift limit will decrease
In 2022, parents were allowed to gift their children 106.671 euros tax-free and use it to purchase property in the country. However, In 2023 this amount will decrease to 27.231 euros! This can be seen as an opportunity for those planning on buying property abroad: with the lowered one-time gift limit there is less competition for expats entering the market with a large sum of money, creating a much more level playing field for aspiring homeowners and investors alike!
More reading: https://www.iamexpat.nl/housing/real-estate-news/mortgage-insights-expats-2023
First-time home buyers could soon get cheap €75,000 loans to make buying easier
First-time home buyers can soon look forward to more affordable prices as the government is introducing a €75,000 loan program to reduce the financial barrier of purchasing a house. This makes buying a home much easier and more achievable for those who may not be able to pay in full or have access to ample savings. The loan is likely to come with either negligible or no interest attached, which is an added bonus that helps make the dream of homeownership much more accessible. First-time home buyers should take advantage of this beneficial plan, maximizing their chance at getting on the property ladder without breaking the bank.
More reading:
https://nltimes.nl/2022/11/08/first-time-home-buyers-soon-get-cheap-eu75000-loans-make-buying-easier
Now is the best time to buy a property in the Netherlands with Expat Property Brokers
Now is the perfect time to buy a house in the Netherlands! Expat Property Brokers is here to guide you throughout the entire process, from finding and viewing potential homes to negotiating a fair price and making the final purchase. They’ll provide all the resources you need to avoid costly mistakes and give you all of the inside information needed for a smooth transaction. With their international experience and understanding of local customs, having them by your side as you search for your dream home is invaluable. Don’t wait any longer – contact Expat Property Brokers today and start your journey towards owning a home in the Netherlands!
