Dutch housing stays hot. CBS data show prices jumped 9.8 % in May from a year earlier and edged 0.6 % higher versus April. The average deal closed at €472,000.

Turnover accelerates.

Nearly 20,000 homes changed hands last month, up 11.5 % on May 2023. The January–May window sales reached 90,000, a 16 % lift.

Demand outruns supply.

Rabobank economist Nic Vrieselaar warns buyers earning 1.5 × the mean wage are “missing out.” He now sees the ticket price for ownership at twice the average income plus parental capital.

Inventory thins.

Many units on the market are ex-rental flats unloaded by landlords fleeing new rent caps. Once that pipeline dries, Vrieselaar says, listings will tighten further, leaving first-time buyers “extremely pessimistic.”

Construction under-delivers.

The government targets 100,000 new homes a year, but has undershot for eight straight years. Limited building keeps sellers dominant.

Macro backdrop.

GDP expanded just 0.1 % in Q1, yet cheap credit and population growth keep bids firm. Kadaster analyst Matthieu Zuidema calls the persistence of price gains “striking” given the soft economy.