Effect: investor strikes now
Because homes will become a lot more expensive for investors from next year, they are still taking action quickly. “We are really seeing an autumn rally now,” says Marijn Snijders, director of Capital Value, a residential investment consultancy.
“Investors still like to use the low rate. And large real estate funds have deliberately put properties on the market to sell before January 1. Last year, 9.3 billion worth of homes were bought by investors. This year it will go to 9 , 5 or maybe 10 billion. “
More choice later for private individuals?
Due to the higher transfer tax, investors will lose market share in the owner-occupied market from next year, expects Cody Hochstenbach, city geographer at the UvA. “A similar measure was introduced in the United Kingdom in 2016 and since then the number of purchases by investors has decreased significantly. There it was accompanied by other measures and there was the prospect of Brexit. But a higher transfer tax does seem to contribute. to fewer investor purchases. “
Fewer purchases by investors therefore means that there will be more homes for private individuals. And Hochstenbach calls the reduction to zero a bonus, especially for first-time buyers. “It improves their competitive position somewhat. But you shouldn’t expect miracles. The gap between what starters can afford and what is paid is often still a bit larger than that 2 percent.”
The measure is not good for the free-sector rental market, thinks Madeline Buijs, real estate economist at ABN Amro. Because if, instead of an investor, a private person buys a house to live in, it becomes an owner-occupied home and not a rental home.
“A measure that promotes purchase limits the rental sector,” said Buijs. “And if an investor does buy a house, then with the tightness in the rental sector you have the chance that the investor will partly settle the higher purchase costs in the rents.”
Actually, the cabinet should not discourage all investors as a group from the housing market, but only the slum landlords, says city geographer Hochstenbach.
For example, by regulating rents, also in what is now the free sector. “Introduce measures that exclude the bad investors and cherish the good ones. Make sure that, for example, a slum landlord can only ask 1000 euros instead of 1500 for an apartment. This will ensure attractive rental alternatives so that people do not have to buy.”