Real estate agents are increasingly focusing on renting property to expats and international workers because it is such a lucrative market, Metro reports on Monday.

The demand for private sector property – with a rent of over €700 a month – is so great that there is a shortage of suitable property, Metro says. In particular, properties with a monthly rent of €1,250 and €1,750 are in demand.

‘We have seen an increase in demand as the economy recovers,’ Roeland Kimman of the Dutch real estate agents’ association NVM told the paper. ‘Dutch companies are becoming increasingly international. As the economy grows, companies invest more and that means they need more temporary accommodation for their staff.’

Leaflets

Metro says that in more expensive parts of Amsterdam, real estate agents are leafleting homeowners to explain the benefits of renting out their property. Many people who have been unable to sell their home but have bought a new one are also renting their old property to foreigners.

‘Companies act as a guarantor so people know the rent will be paid,’ Kimman is quoted as saying.

However, Ronald Dinant of Dinant Makelaardij in Amsterdam said expats are now looking for cheaper properties. ‘Their employers are paying for less and they are more likely to have to find a place to live themselves,’ he said.