Free sector rental supply shrunk further, Eindhoven remains below average square metre price

Nationwide square metre price increases everywhere

In the first quarter of 2024, the average price per square metre for freehold rental housing rose to €18.30. This is an increase of 8.6% compared to the same quarter in 2023, when the average price per square metre was €16.85. This development highlights the ongoing pressure on the Dutch rental market, where limited supply and strong demand are leading to rising rental prices.

Rents rose hardest in Rotterdam, rising 9% to an average square metre price of €19.53. In Amsterdam, rents are still the highest, at €27.00 per square metre after a 5.1% price rise. In The Hague, the square metre price rose by 6.6% to €19.39 and in Utrecht by 4.2% to €20.68.

In Eindhoven, we saw the lowest increase, with a price rise of 2.4%. With an average square metre price of €17.71, Eindhoven remains the only G5 city below the national average of €18.30.

Average square metre price at vb&t also up

The average square metre price of rented homes in the first quarter of 2024 at vb&t is €17.70. That is below the national average of €18.30. This is a 28.5% increase from a year earlier, when the average square metre price was €13.78.

In 3 of the five largest cities in the Netherlands, the average square metre price at vb&t is lower than the national average, namely in Rotterdam €15.04 p/m2, Utrecht €16.75 p/m2 and Eindhoven €14.26 p/m2. In The Hague and Amsterdam, we are above the national average at vb&t. In The Hague, we see the average square metre price rise by 49.7% to €19.32 and in Amsterdam the square metre price rises by 12.3% to €20.40.

The price increases at vb&t look more extreme than the national trends, as vb&t's portfolio fluctuates faster due to the change in the supply of clients.

Number of vacant houses decreases again

The number of homes offered in the first quarter of 2024 fell by 27.9% to 17,594 homes, compared to the first quarter of 2023. At least 45% of the rental offerings were from the five largest cities. That is almost 5% more than the previous year.

Pararius also reports once again that the percentage of owner-occupied properties offered that originated from the rental market increased. This time with a percentage of 7% compared to last year. Private investors are increasingly choosing to sell their vacant rental properties.

At vb&t, we see a similar decline. In the first quarter of 2024, we let 22% fewer homes compared to a year ago. While some of this is due to the sale of rental properties, it is also due to changes in our housing portfolio.

Average number of responses nationwide decreases

A free-sector rental property I the first quarter of 2024 received an average of 19 responses, down slightly from the first quarter of 2023. Back then, the average was 22 responses.

In Utrecht, houses could expect the most reactions with an average of 38 reactions. This is 8 reactions less than last year. In The Hague, houses were also popular, here houses received an average of 30 reactions. Last year, there were 7 more.

Rotterdam was the only city in which an increase in the number of reactions was measured. Houses here could count on an average of 33 responses, which is up from 31 responses a year earlier.

On average, a rental house in the free sector was offered online for 35 days. A year earlier, a rental property was offered online for 32 days.