Dutch Home Price Growth Slows to 4.1%

Prices of existing owner-occupied homes in the Netherlands increased by 4.1% in June 2026 from a year earlier. Growth is substantially slower than in 2025, but prices are still rising: they gained 0.6% during the month, registered transactions increased by 7.9%, and the average sale price approached €500,000.

The official increase was 4.1%

NL Times rounded the annual increase to 4% in its headline. The official figures from Statistics Netherlands and the Land Registry show that existing owner-occupied homes were 4.1% more expensive than in June 2025.

Annual growth stood at 4.4% in May, 4.3% in April and 5% in March. The movement should not be described as an uninterrupted monthly decline because the rate increased slightly in May before falling again in June. The broader slowdown is clear: prices had been rising by 9.3% annually in June 2025.

Prices increased by 0.6% from May 2026. Slower annual appreciation therefore does not mean that the market has moved into decline.

The official index covers existing properties located in the Netherlands, purchased by private individuals and intended for permanent occupation. It does not include newbuild homes, commercial property or rental prices.

The index was 17.3% above the previous peak reached in July 2022. Prices declined after that high but resumed an upward trend in June 2023.

The average sale price approached €500,000

The average transaction price for an existing home was €496,235 in June. This figure cannot replace the price index or be treated as the value of a typical property across the country.

Average prices depend on the composition of sales. If more large houses in expensive municipalities change hands, the average can rise without a comparable increase in the value of every property. A greater share of smaller apartments can reduce the average even while the underlying index rises.

The official price index adjusts for differences between the properties sold and uses their assessed values. It is the appropriate measure for calculating the 4.1% annual increase.

Statements that the “average Dutch home now costs almost €500,000” therefore require qualification. The amount is the mean value of June’s registered transactions, not a universal price for all regions and housing types.

Transactions increased by almost 8%

The Land Registry recorded 20,378 existing-home transactions in June, an increase of 7.9% from a year earlier.

A total of 114,901 existing homes changed ownership during the first half of 2026, 5.5% more than in the same period of 2025. Monthly sales remained uneven: transactions fell by 2.5% annually in May before returning to growth in June.

During the second quarter, 58,952 transactions were registered, 2.7% more than a year earlier. Prices increased by 4.2% annually and by 0.9% from the first quarter of 2026.

Higher transaction numbers combined with slower appreciation point to increased supply and improved market turnover. Buyers have more properties to consider, but demand remains strong enough to keep prices rising.

Groningen leads provincial price growth

Housing markets are moving at different speeds across the country. Groningen recorded the strongest annual increase in the second quarter, at 7.9%.

Prices rose by 5.7% in Drenthe, 5.6% in Gelderland and 5.3% in Friesland. North Holland recorded the smallest provincial increase at 2.4%.

Transaction growth was strongest in Flevoland at 13.6%. North Holland was the only province where sales declined, falling by 1.1%.

Among the four largest cities, The Hague led with price growth of 4.5%. Rotterdam gained 3.2%, Utrecht 2.2% and Amsterdam only 0.8%.

Transactions increased by 3.5% in The Hague but declined by 0.4% in Rotterdam and 2.8% in Amsterdam. The capital’s slower price growth may reflect both its already high entry costs and increased supply in particular apartment segments.

Detached and semi-detached houses recorded the strongest appreciation by property type, gaining 5.5%. Corner houses rose by 4.4%, terraced houses by 4% and apartments by 3.2%. Terraced-house transactions increased by 4.6%, while sales of detached properties declined by 0.4%.

Former rental properties expand supply

One reason for slower price growth is the increase in properties entering the market. Around 56,700 existing homes were listed through NVM estate agents during the second quarter. This was the highest number since records began in 1995 and almost 9% more than a year earlier.

Members of the organisation sold approximately 45,200 properties, an annual increase of 6.6%. The average sale price in its dataset reached €506,000, rising by 3.4% from the previous quarter and by 2.1% year on year.

The quarterly increase partly reflects the normal spring pattern, when more large and expensive homes are sold. The annual figure provides a clearer indication of the slowdown, although it is not the same as the official quality-adjusted index.

Additional supply partly reflects the continuing sale of homes that were previously rented out. It would, however, be too categorical to attribute every sale solely to stricter rental regulation. Owners’ decisions can also be affected by financing costs, taxation, maintenance expenses, expected returns and personal circumstances.

Estate-agent data and official statistics use different methods. NVM measures contracts handled by its members, while the national index uses notarial deeds registered by the Land Registry. A delay normally occurs between signing a sales agreement and the legal transfer of ownership.

Rental-property sales restrain prices temporarily

The movement of former rental apartments into the owner-occupied market gives buyers more choice and reduces competition for certain urban properties. The effect is particularly visible among smaller apartments, which tend to cost less than family houses.

This helps explain why transaction numbers are increasing while annual price growth slows. Without the additional supply, the structural housing shortage could have produced stronger appreciation.

The transition also has a negative side. Homes are moving from the rental stock into owner occupation, reducing options for tenants. A household that cannot obtain a mortgage does not benefit directly when a rental apartment is offered for sale.

This source of supply is finite. Once landlords have sold most of the properties they no longer intend to rent, the additional flow may weaken. Price pressure could accelerate again unless construction expands before that happens.

Newbuild sales remain weak

The newbuild market is performing less strongly than the existing-home segment. A total of 5,126 new homes were sold during the first quarter of 2026, a decline of 19.1% from a year earlier. It was the third consecutive quarter of falling newbuild sales.

Almost 56,000 existing properties were sold during the same period, an annual increase of 8.7%. Buyers acquired 61,075 existing and new homes with a combined value exceeding €30 billion.

The average price of an existing home in this quarterly dataset was about €492,000, compared with €516,000 for a newbuild property. Newbuild prices increased by 4.6% annually, while existing-home prices rose by 5.2%.

Falling newbuild sales do not necessarily indicate a lack of demand. High construction and land costs, financing expenses, lengthy approval processes, infrastructure constraints and the time between purchase and completion all affect the market.

More recent estate-agent figures indicate limited quarterly improvement. NVM members sold around 6,100 newbuild homes during the second quarter, 6% more than in the previous three months but 7% fewer than a year earlier. The figures should not be directly combined with the official dataset because coverage and registration timing differ.

Permits have not yet produced completed supply

Permits were issued for approximately 23,500 new homes in the first quarter of 2026. The total was higher than a year earlier but 900 lower than in the final quarter of 2025.

Almost 14,000 homes were completed during the same period. The difference demonstrates how slowly projects move from approval to available housing.

A permit does not guarantee that construction will begin immediately. Legal objections, electricity-grid connections, environmental requirements, labour shortages, material costs and changing financing conditions can delay delivery.

Permit figures provide an indication of future supply but cannot resolve the present shortage. Several years may pass between project approval and the transfer of a home to a buyer or tenant.

Slower growth has not restored affordability

The 4.1% increase is substantially below the double-digit rates recorded in 2024 and early 2025. Slower appreciation, however, does not mean that affordability has recovered.

Prices remain 17.3% above the July 2022 peak. Buyers must also cover valuation, advisory, transaction, moving and potential renovation costs. Bidding above the asking price remains common, although increasing supply is reducing the pressure in some segments.

Single buyers, low- and middle-income households and people without equity from a previous home remain at a disadvantage. Wage growth increases mortgage capacity but also supports effective demand and allows prices to rise.

Former rental apartments temporarily improve selection for some purchasers, but they do not replace the construction of affordable housing near employment, transport, schools and public services.

Central bank expects growth of 3–4%

De Nederlandsche Bank expects owner-occupied home prices to increase by approximately 3% to 4% annually between 2026 and 2028, considerably more slowly than in previous years.

Higher mortgage rates, weaker consumer confidence and additional former rental properties are restraining price growth. Wages are still increasing, however, meaning that household borrowing capacity is not expected to contract completely.

The central bank does not expect affordability to improve materially. Property values are likely to rise at roughly the same pace as the amount households can borrow. Higher incomes may support larger mortgages, but much of that additional purchasing power will be absorbed by housing prices.

The outlook remains exposed to external developments. Higher market interest rates and greater economic uncertainty could weaken demand. Falling mortgage costs or faster wage growth could instead revive competition.

As International Investment experts report, the 4.1% increase confirms that the Dutch housing market is cooling but not becoming affordable. Rising transaction volumes and the sale of former rental apartments temporarily improve choice, while prices remain well above their 2022 peak and newbuild sales continue to decline. The central risk is that this temporary source of supply will be exhausted before construction delivers enough new homes. Price growth could then accelerate again, while tenants simultaneously face a shrinking rental stock.