‘Highest price increases in South East Amsterdam’
It’s been a good year for South East Amsterdam. The New Development Prize 2017 has been awarded to the new ‘Emerald’ project in the E-neighbourhood, and housing prices are rising. Through the realisation of various new developments in 2017, South East Amsterdam has positively put itself on the map as a beloved area to live, and it can now easily compete with the rest of Amsterdam.
The increase in prices, which started in 2016, has continued in a similar fashion in 2017, and has skyrocketed especially in the last few months of the year. This is thanks to the resale of recently finished new developments.
Especially in Venserpolder, a part of South East Amsterdam which traditionally lagged behind the rest of the borough in terms of prices, and where homes have been known to be on the market for years, a positive development can be seen. The turnover speed has increased considerably here, and a large part of properties on the market are currently being sold above the asking price.
The positive development of the Venserpolder is partly thanks to its location; it is almost directly bordering the successful development of the Holland Park. Moreover, the Venserpolder has a great infrastructure, and the area is easily accessible with both public and private transport.
New audiences are discovering South East Amsterdam; parents who are buying for their children, starters with an income slightly under average, who can’t afford live anywhere else but still want to stay in Amsterdam, and, last but not least, investors. The latter group clearly sees the (financial) possibilities in the long run, and the positive developments this borough is undergoing. Although the explosive increase in prices in South East Amsterdam of the past few months has not been included in the latest statistics, South East Amsterdam is following the trend of the rest of the city.
The supply of all types of homes is decreasing, especially apartments. In a period of ten years (from 2007), the median selling price – after an initial strong decline in the crisis years, with a low in 2013 – has clearly started to climb. In terms of absolute prices, the other boroughs still beat South East Amsterdam, but prices are developing the fastest in South East Amsterdam. The borough is clearly catching up.
The average price increase in 2017 was 13.4%, with apartments topping the charts with an average price increase of 18.4%, followed by single-family houses with an increase of 8.9%. The listing duration of an average house has sunk to a record low. A property is currently on the market for an average of 26 days. The difference between asking and selling price is negative, which means that the majority of properties are being sold for a higher price than the asking price.
The median transaction price for properties in South East Amsterdam is currently €189,500. For single-family homes this is €246,600 and for apartments built after 1990 €229,000. For apartments built before 1990, prices are slightly lower, €168,800. However, these are still the highest prices of the past ten years.
With averages prices per square meter of €2,231, €2,322 for single-family homes, €2,573 for apartments after 1990 and €2,264 for slightly older apartments, South East Amsterdam is a very attractive borough to live and invest in.
MVA estate agent Jonneke Bach, ERA Van de Steege
Metropolitan Area Small Amsterdam
SOUTH EAST AMSTERDAM
South East Amsterdam is a borough of the Municipality of Amsterdam, formulated in 1987. The borough has a surface area of 22.08 km² and had a population of 84,811 in 2003. South East Amsterdam does not border the rest of the Municipality of Amsterdam, but is separated from the city by the municipalities Ouder-Amstel (in particular the village Duivendrecht) and Diemen.