Amsterdam Property Market and Real Estate Guide
(Amsterdam, North Holland, Netherlands)
Tolerant Amsterdam is a good-looking city made up of canals, centuries-old gabled merchants' homes, cafés and museums galore. The city has made progress in attracting international businesses, and with this has followed their employees. Yet housing here remains among the most expensive in the Netherlands.
Many expats prefer the convenience of renting rather than purchasing property in Amsterdam, although the cultural capital's housing shortage means high rental rates. Therefore those that do purchase Amsterdam property may save themselves money.
Property in central areas is more expensive to rent and purchase than property on the city's outskirts, with canal-facing, 17th- and 18th-century properties priced at a premium. Jordaan is the district of choice among young professionals and students while the cheaper, multicultural De Pijp neighbourhood presents good housing choices, as does the redeveloped banks of the Ij River.
Renting Serviced Apartments
Serviced apartments are ideal for short-stay visitors to Amsterdam, since regular apartments require tenants staying for periods of less than six months to have a permit due to strict housing policies.
Most serviced apartments in Amsterdam range from short-let apartments suitable for tourists, to corporate serviced apartments aimed at accommodating visiting business people. Prices vary according to location, facilities and number of beds. Extended stays usually net the best discounts.
While not cheap, serviced apartments offer a cost-effective alternative to staying in a comparable hotel long term, at up to a 40 percent saving. They also tend to provide more space and greater privacy, but usually require a deposit of two months' rent for long stays.
Buying Apartments and Houses
Foreign ownership of property in Amsterdam is not restricted, but non-EU nationals may find it difficult to secure a mortgage. Some new property requires owners to have a housing permit, for which you will need a residence permit.
Rental yields in the city have recently fallen, making buying-to-let a less attractive option than before, yet yields are still good in comparison to other large cities in the Netherlands such as The Hague
. Factor in paying tax on rental income. A total of about ten percent of the purchase price should also be added for extras like estate agent and notary fees, as well as property registration costs.
As much as 80 percent of the land in Amsterdam is municipality owned, with property owners leasing the land. It is worth noting, however, that leases run for specific amounts of time, so it is necessary to check the termination date of a property's lease, at which point the rent may be adjusted based on the value of the land at the time.
Real Estate Agents
Expats unfamiliar with Dutch property law are recommended to go through an estate agent when renting or purchasing property in Amsterdam. All agents are registered with the Financial Markets Authority (Autoriteit Financiele Markten), speak English and can offer help in searching for properties and arranging viewings, but note they charge up to two percent commission on the purchase price of any sales.
Check out the following Amsterdam real estate agents:
Address: Koninginneweg 251 HS, 1075 CV, Amsterdam, Netherlands
Tel: +31 (0)20 620 2020
This Amsterdam estate agent has a good selection of houses and apartments on its books.
Address: Euro Business Center Amsterdam, Keizersgracht 62-64, 1015 CS, Amsterdam, Netherlands
Tel: +31 (0)20 800 5077
Specialising in apartment rental and sale, including the rental of serviced and long-stay apartments.
Berkers and van Delft
Address: Ineke Bekkers, Entrepotdok 157, 1018 AD, Amsterdam, Netherlands
Tel: +31 (0)6 295 15403
Providing all the expertise you need to purchase an Amsterdam property, Berkers and van Delft is used to dealing with expats.