New data published Wednesday reveals the cost of rent in the Netherlands is on the rise. According to Statistics Netherlands (CBS), in July 2019 Dutch rental prices across the country were on average 2.5% higher than last year.
CBS reported that the city of Amsterdam “has seen the highest rent increases of the country for several years” and indeed experienced the highest increase again this year at an average 3.4%. Rotterdam’s 3.2% average increase was a close second highest while the Hague and Utrecht experienced a slower growth with average respective increases of 2.5% and 2.4%. The province of Drenthe continued to have the lowest average rental increase with this year’s 1.9% increase.
One reported cause of the continued rental price hike is the increase in consumer prices in 2018. CBS reports that “For rent control housing, the maximum increase is equal to the consumer price inflation rate over the previous year plus an income-related benefit. In 2019 the maximum rent increase amounts to 4.1% or 5.6%, depending on the tenant’s income.”
As of 1 July, the average rent increase for social housing owned by housing corporations also rose from last year’s 1.7% increase to a 2.0% increase this year. CBS reports this increase is “partly due to a higher limit on rent increase, but also to a smaller share of housing with rents
declining or unchanged.” The Dutch private sector also saw an increase in rental prices from 2018’s 3.1% to this year’s rental increase of 3.3%.
Featured Image: via Piqsels
