In total 30 homes costing more than €3 million were bought in Amsterdam over the past year, according to research by real estate advisor CBRE.

This is down on the top year of 2021 when 41 €3 million homes changed hands, but in line with the rest of the decade, CBRE said.

Amsterdam, the agency said, is developing into a “luxury hot spot” within the Netherlands, given that 80% of the top of the market deals are taking place in the Dutch capital.

The most expensive properties are close to the Vondelpark and on parts of the Keizersgracht and Herengracht.

The buyers in the “high-end residential market” are Dutch, British, German and French, the agency said. But there is also interest from the US, China and Middle East, where people see the Netherlands as a strategic location to reach other EU cities.

The price level in London and Paris is considerably higher, CBRE said. There are currently 115 Amsterdam homes priced at over €3 million on housing website Funda.nl, and 35 with a price tag of over €5 million.

The low prices for high-end properties in Amsterdam offer room for “further value growth,” says Nikki van Horck, from CBRE’s real estate agency Eefje Voogd.  

“With the growth of the tech sector and inter-generational wealth transfer, Amsterdam is developing into a luxury hot spot, following in the footsteps of iconic cities such as London, Paris and Milan. We expect the demand for exclusive living spaces in Amsterdam to increase further.”

Meanwhile, the NRC reports that the number of rental properties on offer in the Netherlands has fallen sharply since the introduction of new rent control rules and other restrictions in July.

In total, the number of properties available to rent fell by 7,000 when the third quarter is compared with the second, the paper says, quoting statistics from Rent.nl.

In Amsterdam, the number of non-rent controlled properties has fallen by over 1,000, and there was a significant reduction in the other four big Dutch cities.