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MVA: 'Fewer viewings, but willingness to buy has increased'

Published on 10-07-2020
How does the corona crisis affect the Amsterdam housing market? Amsterdam Real Estate Association (MVA) saw a small and short-lived dip in the higher price segment. How did the other price ranges and housing types fare? Chairman Jerry Wijnen talks about it.

The first wave of the coronavirus appears to have little or no negative impact on the housing market. Onno Hoes, chairman of the NVM says: "That the corona outbreak in the second quarter of 2020 has a different effect from the credit crisis in the fourth quarter of 2008. Despite the fact that consumer confidence has fallen, the effects on the housing market are not occurring "Although fewer viewers are coming to a home, those who come are serious viewers. The shortage on the market, combined with a spike in registrations of new homes, is actually leading to an increase in sales."

MVA
Jerry Wijnen, chairman Makelaarsvereniging Amsterdam, says: "We see that the supply in the Amsterdam region is increasing. Sales are being brought forward. In the higher price segment there was a brief dip, there was less demand, but this is currently recovering rapidly . "

Offer increased by 2.5%
The total housing supply in the Amsterdam region has risen to 2,050 homes. This is an increase of 2.5% compared to a year earlier. The average asking price increased by 6.5% compared to a year earlier and comes to an average of € 607,000. We see an increase in the asking price for the terraced house, the corner house, the apartment <1970 and the apartment> 1970. Homes are for sale for an average of 28 days. This is a decrease of 18.5% compared to a year earlier, when homes were for sale for an average of 35 days.

Developments in supply and asking prices in the municipality of Amsterdam
The total housing supply in the municipality of Amsterdam rose to 2,001 homes. This is an increase of 4% compared to a year earlier. The average asking price has increased by 7% compared to a year earlier and comes to an average of € 452,441.

We see an increase in the asking price for all house types (terraced house, corner house, semi-detached house, detached, apartment <1970, apartment> 1970). Homes are for sale for an average of 22 days. This is a decrease of 3% compared to a year earlier, when homes were for sale for an average of 26 days.

Interesting developments that we identify at district level:

Number of homes on offer
• In Amsterdam New West we see an increase of 8% compared to a quarter earlier;
• In Amsterdam West we see an increase of 10% compared to a quarter earlier.

Developments in the number of transactions in the Amsterdam region *
MVA brokers provisionally sold 1,921 homes in the second quarter. This is a decrease of 15% compared to a year earlier, but an increase of 22.5% compared to the first quarter of 2020. The transaction price averages € 475,000. Compared to a quarter earlier, we see a decrease of 3%. The transaction price per m² increased by 3% compared to a quarter earlier and comes to an average of € 5,574 per m². The transaction price per m² is increasing, because more smaller homes are being sold, with a high price per m².

* The Amsterdam region consists of the municipalities of Amsterdam, Amstelveen, Diemen, Ouder-Amstel and the town of Abcoude (municipality of Ronde Venen).

Developments in the number of transactions in the municipality of Amsterdam
MVA brokers provisionally sold 1,670 homes in the second quarter. This is a decrease of 13% compared to a year earlier. The transaction price averages € 468,637. Compared to a quarter earlier, we see an increase of 3%. The transaction price per m² has increased by 7% compared to a quarter earlier and comes to an average of € 5,909 per m².


"Although there are fewer viewings, the willingness of viewers to buy has increased. Most homes have been sold above the asking price. This is still due to the limited supply," says Wijnen.

Interesting developments that we identify at district level:

Number of homes on offer
• We see an increase in the number of homes that become available in all districts;
• The increase is solely due to the number of apartments offered for sale. For apartments built before 1970 we see an increase of 64% compared to the 2nd quarter 2019;
• We see a decrease in the other housing types (terraced house, corner house, semi-detached house and detached);
• For apartments built after 1970, we see an increase of 73% compared to the 2nd quarter 2019.

Number of homes sold
• We see a decrease in the Center of Amsterdam by 34% compared to a year earlier;
• In Amsterdam South we see a decrease of 11% compared to a year earlier.
 
New construction remains in demand
The new developments in the Netherlands correspond to the developments we see in Amsterdam. The new-build homes remain in demand despite corona. The price increases for new-build homes are less extreme than last year.
 
Source, Vastgoedjournaal 9 july Sandra Lissenberg