Private rental sector loses 22,000 homes as landlords sell up

Private landlords in the Netherlands are selling their properties at a rapid pace, leading to a decrease in the number of homes available for rent. According to the national statistics office CBS, the number of homes let by individual landlords dropped by 37,000 last year to 492,000, while the private rental sector as a whole saw a decline of 22,000 homes.

Many landlords find renting properties unprofitable, especially with no government support or measures to ease the tax burden on their investments. Vastgoed Belang, a representative for private landlords, warned that sales would continue due to the lack of tax relief. Additionally, rent controls were extended in July 2024, further discouraging landlords from maintaining their properties.

Most of the homes sold were at a higher price point, with an average WOZ valuation of €375,000 compared to the €327,000 valuation for all homes let by individuals. The trend is particularly noticeable in Utrecht, where 15% of homes let by individuals became owner-occupied over the past two years, compared to 12% in Amsterdam and 11% in Rotterdam and The Hague.