Soultalk-Amsterdam

Dutch cities are now pushing to make homes more affordable for ordinary working people

We all know that buying a house is really expensive. Like really expensive. So cities in the Netherlands are planning to disallow property investors from acquiring up houses in various neighbourhoods. They hope by doing this it will make homes more affordable for ordinary working people.

You know what that means. No need to get a mortgage or loan! Amsterdam and Utrecht are among the cities proposing to prevent investors from buying cheap and mid-price properties. This is according to public service broadcaster, NOS.

To further prove the point, according to Dutch News, a whole third of homes sold in the four largest Dutch cities were bought by investors in 2020. This pushed first-time buyers to take bigger financial risks. Not only this but it prevented them from buying houses in the first place.

The legislation needed to make that happen is due to come into effect on 1 January 2022.

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