News update: House prices falling? The Netherlands has more million euro homes

House prices may have fallen 9% in the first three months of this year, but the impact on top-of-the-market properties has yet to be felt. New figures from property research group Calcasa show that there are now 195,000 properties in the Netherlands worth over €1 million, up from 14,000 in 2013.

While there may be more €1 million-plus homes in the Netherlands, their average value has gone down by some €50,000 to €1.35 million. They are also slightly cheaper when it comes to size, with an average price of €6,600 per square metre, down from €6,800 in 2021.

‘That means there are relatively more “cheap” million euro homes than a year ago,’ Calcasa says.

As to be expected, Amsterdam had most property valued at over €1 million – with 20,100 of the total houses and apartments. The Hague has half that, while Rotterdam has around a quarter. However, if you prefer Bloemendaal near the coast, more than half the homes there will set you back more than €1 million.

The Keizersgracht in Amsterdam – one of the popular city centre canal rings – has most homes worth upwards of €1 million and all the top five were in Amsterdam – with the Prinsengracht, Valeriusstraat, Herengracht and Johannes Verhulststraat completing the line-up. Places to avoid, then, if you have a limited budget.

Calcasa also identified 10 streets in which every home was worth more than the magic figure. Top of that list is Konijnenlaan in the leafy suburb of Wassenaar, where homes are worth an average of €3.3 million.

Owning an expensive property brings its own headaches. Calcasa also calculated the true cost of owning a home worth more than €1 million. It worked out that people owning a home worth more than €1 million will pay on average almost €40,000 a year in mortgage repayments, insurance, maintenance, high energy bills and taxes to live in their property – less of course, if you have been clever enough to pay off your mortgage.

And if you want to limit your costs as much as possible, it pays to check out the local tax situation. In Amsterdam, for example, the owner of a million euro property will pay around €500 in OBZ, or local council taxes. In Bloemendaal, the bill would be around €1,400.