Middle class ousted from the housing market; No apartments available for a salary of € 35,000

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For a household with a combined annual income of 35,000 euros or less, it is almost impossible to buy a house in the Netherlands, the land registry announced on the basis of the housing market figures from 2017 to 2021.

“A household with an income of less than 35,000 euros has little chance of buying a home,” according to the researchers. Income of up to 60,000 euros also has little chance. You can only afford 37 percent of the homes in the Netherlands, compared to 65 percent four years ago.

In both cases the situation is worst in the four big cities of Amsterdam, Rotterdam, The Hague and Utrecht, because home prices are highest there.

The high house prices in Amsterdam are also reflected in the increase in millionaires in the capital. According to Statistics Netherlands, on January 1, 2020, 4.4 percent of Amsterdam’s population were millionaires. That means they had over $ 1 million in total assets, including the value of their home and minus liabilities like mortgages and other debts. The proportion has doubled in the last five years.

According to the statistics office, Amsterdam is developing into a city of the rich and the poor, with very little in the middle. 35 percent of the urban population have a high income and 47.6 percent have a low income. The middle class makes up only 18 percent of the population.

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