One in 10 houses in Amsterdam is selling for more than the asking price, with home-buyers particularly likely to overbid each other in the Zuid and Oud West districts, estate agents said on Tuesday.

‘Everyone is back in the market, from first-time buyers to people after a home costing over €1m,’ Sven Heinen from the Amsterdam estate agents’ association told broadcaster Nos.

The NVM estate agents’ organisation says there is talk of ‘overheating’ in the Amsterdam market. The number of sales is almost back at pre-crisis levels and prices are approaching their old levels, the NVM says.

In the second quarter of this year, the cost of a city flat rose by 6.9%, taking the average price to €227,000. In total, 2,633 properties changed hands in the second quarter, an absolute record, the NVM figures show.

Odd one out

The situation in Amsterdam is special, Heinen says, pointing out that low interest rates and high rents make home ownership increasingly attractive. Buyers also expect prices to go up still further, Heinen said.

The market is also picking up in student cities such as Utrecht, Leiden and Delft, estate agents say. However, strong regional differences remain.

The NVM said on Tuesday the number of properties changing hands was up 41% in the previous three months, compared with the same period in 2013.

‘The regional differences are wide and some types of homes, such as detached properties, are still dropping in price on an annual basis,’ NVM chairman Ger Hukker said in a statement.

The average house price is now around €215,000 but prices are still down around 15% on the pre-crisis years. On average, a house takes some 400 days to sell.