Dutch house prices nosedive
Prices of existing owner-occupied dwellings sold in July 2012 were on average 8.0 percent down from July 2011. This is the most substantial price drop since the price index of existing residential property was first recorded in 1995. The index – a joint publication by Statistics Netherlands and the Land Registry Office – reflects price changes of existing owner-occupied dwellings in the Netherlands sold to private individuals.
Prices of existing owner-occupied dwellings sold in July 2012 were approximately at the same level as eight years ago. The price drop is 15 percent compared to August 2008, when house prices reached a record high.
The total number of registered house sales over the first seven months of 2012 was 66 thousand, i.e. 3 percent down from the same period last year.
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