Rental market figures Q3 2023: Falling supply, rising interest.

The rental market is a dynamic one with a lot going on at the moment. While the government is doing everything to build more housing, the rental sector is also under pressure from the government. Every quarter, the figures in the rental market are analysed. In this article, we inform you about the current events in the rental market.

Declining supply of freehold rental sector

In one year, the number of homes for sale originating from the free rental sector rose from 4% to 7%, reports housing platform Pararius. At the same time, the number of available freehold rental properties for new tenants has fallen by 31.7% in a year, while responses to these available rental properties continue to increase.

Much of the supply found in the owner-occupied market this quarter has come from the rental market. This is partly due to government measures for landlords, making it less attractive to continue renting out properties.

Average rent increase

We find the highest rent increase in Rotterdam, where people pay an average of €19.14 p/m2 for a new rental property. That is 9.3% more than last year. In Amsterdam, new tenants still paid the most, at €27.32 p/m2. This price has increased by 8.2% since last year. In The Hague, a vacant rental property cost on average €19.14 p/m2, which is a price increase of 7.2%. In Eindhoven, square metre prices rose by just over 5% to €18.36 and in Utrecht, prices rose by just 0.6% to €20.35 p/m2.

More interest in rental properties

In the third quarter of 2023, there were an average of 26 responses via phone and mail from house seekers, reports Pararius. Compared to 2022, this is 13% less, but a doubling compared to 2021. A large increase is measured especially in the big cities. Given the dwindling supply and rising rental prices, this is a worrying development.

At vb&t letting agents, properties received an average of 69 responses in Q3. That is an average of 43 responses per property more than at Pararius. At vb&t letting agents, we have an active seeker database of over 20,000 seekers (November, 2023).

Source: https://www.pararius.nl/nieuws/steeds-meer-huuraanbod-verdwijnt-naar-de-koopmarkt