New building market appears to be past trough

In 2023, 18,000 new-build owner-occupied houses will have been sold. This is half the number of sales in 2021. Housing production of owner-occupied houses remains a major concern, as production has been under considerable pressure for three years. Still, the new construction market seems to have reached its all-time low. In fact, during the year of 2023 a slight increase in the number of new houses sold was observed. There were also more building permits issued in the fourth quarter of 2023 for rental houses and especially for owner-occupied houses. In addition, in the first quarter of 2024, more guarantees were issued for owner-occupied housing completions. In one to one-and-a-half years, construction output will improve, which is badly needed to meet the demand for owner-occupied houses.

This is according to the forty-fifth Monitor of the Housing Market for the first quarter of 2024, on Friday, 17 May, presented by the Expertisecentrum Woningwaarde, which is part of TU Delft's Faculty of Architecture and the Built Environment.

Read the full article here in Dutch.