Anyone who buys a new-build home in Amsterdam should live there themselvesPublished on 23-07-2020
The obligation to live independently for new homes to be built is a fact in Amsterdam. Buyers must move into their own home upon completion. This obligation is intended to suppress the so-called buy-to-let. "Homes are to live in and not a revenue model," explains councilor Laurens Ivens.
The measure applies to homes yet to be built and to homes that are added via 'transformation' of, for example, offices. The first homes to which this measure applies will therefore only be completed in a few years' time. The obligation to live independently is included in the leasehold conditions and also applies to the next buyer, as a result of which the obligation to live has a long-term effect.
Exceptions remain possible. The owner may rent the property to a first-degree family member, such as the partner, children and their partners or parents, and for a temporary stay abroad. It is also possible to rent out a house, but only as a social or medium-rent house up to a maximum rent of 1027 euros per month.
The effect of the measure will be limited. Not only are relatively few owner-occupied homes built in Amsterdam, but they often also fall in the expensive segment. Investors can get more returns from rental in the somewhat cheaper segment, so in the existing stock. Minister Ollongren has announced legislation to allow municipalities to prohibit sale-for-rent in certain neighborhoods. Ivens is looking forward to this measure: "We can only really protect the owner-occupied market if the self-housing obligation also applies to existing owner-occupied homes."