‘Zaan area attractive for Amsterdammers’
The pressure on the property market in the Zaan area is ever-increasing. Transaction prices are topping pre-crisis levels in all segments, and supply of homes has never been this low. This is also visible in the amount of time properties are up for sale. Semidetached and detached houses are on the market for just over a month, but the listing time for all other segments is shorter than a month. The difference between asking and transaction price also shows that many properties are being sold well above the asking price. We do see, on the other hand, that the amount of transactions is no longer growing. In fact, less properties are being sold. This is solely due to the lack of supply. Apart from the decline in number of homes sold, it’s noteworthy that the price increase in 2017 is similar to that of 2016. This means price increases are levelling off.
The pressure on the property market is caused by the influx from Amsterdam, the lack of new developments and of course the low interest rate. The demand for homes in the Zaan area from Amsterdam has risen considerably in recent years. Amsterdammers find the Zaan area attractive because of its affordability in combination with a good relative location to Amsterdam. Incidentally, it’s striking that the majority is interested in Zaandam, and prefer a single-family home. In Zaandam, over 30% of single-family homes are sold to Amsterdammers nowadays.
In Zaanstad, many new projects are in development. These include the big locations Hembrugterrein, Inverdan and Kreekrijk. But although many projects are lined up, their lead times are long. In 2018, therefore, supply will still be low. Only after 2018, larger numbers of properties will become available.
For the time being, supply will stay low, and the pressure on the property market in the Zaan area will continue to be high.
MVA estate agent Robert de Joode, KRK Makelaars.
The Zaan area is an area in the Netherlands including the municipalities Zaanstad, Wormerland and Oostzaan. The Zaan area occupies a total of around 145 km2 and has a population of almost 26,000.