Corona has given house prices an extra boost
The impact of the corona pandemic on house prices has increased the dependence on various factors and regional market conditions.
Overall, there are some broader trends that have been observed worldwide:
1. Increased demand for homes with more space:
Lockdowns and changes in working habits have led some people to look for more spacious homes with more amenities, such as home offices.
2. Low interest rates:
Many central banks had cut interest rates in response to the economic fallout from the pandemic. This has led to lower mortgage interest rates, which increases the attractiveness of real estate.
3. Limited offer:
Housing supply may have been limited in some regions, which could have driven up prices. This also played a role in the construction delays due to the lockdown measures.
- It is important to note that these trends are general and the situation in specific cities or regions may differ significantly. Information about the specific circumstances in Rotterdam could indicate more accurately how house prices there have been affected.
House prices have risen during the corona period
Room Rotterdam Real Estate has to deal with a dynamic market in Rotterdam, where both investors and private individuals are active. The increase in the average sales price of owner-occupied homes in the Netherlands, including Rotterdam, reflects broader trends in the real estate market.
There are several factors that contributed to this price increase:
1. Limited offer:
If there are fewer homes available than demand, this can drive up prices. This may be the case due to increased demand for housing and restrictions on new construction.
2. Low interest:
When interest rates were low, this stimulated demand for housing because it became more attractive to take out a mortgage.
3. Changing demand patterns:
The pandemic has changed the way people live and work, which may lead to changes in demand for certain types of housing (for example, increased demand for more spacious homes with work-from-home facilities).
4. Savings due to limited travel options:
As you noted, some people have saved money by traveling less due to the restrictions surrounding the pandemic. This extra money can be used to bid more on homes.
- It is always good to contact a local real estate agent, such as Room Rotterdam Real Estate, for specific information about the real estate market in Rotterdam and the surrounding area. They can provide detailed insights into local market conditions and trends.
More homes sold in 2021
- In February 2021, 9.7 percent more homes changed hands than in 2020. 41,389 homes have already been sold in the first months of 2021. That is almost 27 percent more on an annual basis.
- The supply of owner-occupied homes had decreased considerably, while many people still wanted to move. Partly because mortgage interest rates were lower than ever.
- Room Rotterdam Real Estate operates for various target groups such as investors but also private individuals. As a purchasing agent but also when selling a house. This gives us a good overview of the complete offering in Rotterdam and the surrounding area.
- Room Rotterdam Real Estate is therefore the ideal office to use if you want to buy or sell a home in Rotterdam and the surrounding area. We have extensive experience with investors but also with private individuals. Contact us directly to discuss the possibilities.