5 trends and the future of new development
New development projects and houses traditionally are an attractive option for house seekers. These brand new homes are low-maintenance, more durable and therefore generally a better investment in the long run. As the market is constantly changing, in this blog we take a look at 5 trends that will influence the position of new development in the market in the near future.
Energy efficiency regulations and environmental requirements for new development projects are very strict, so this means that these projects are particularly sustainable and relatively environmental friendly. Good insulation, triple glazing, solar panels and a heat pump are the new (high) standard. Even in 2023, these requirements are strictly monitored. Investing in a new home is investing in a pleasant and healthy living environment and a positive effect on your energy bill.
The currently high price levels for construction materials and raw materials are driving up costs for contractors of new projects. An ING research study shows that prices of construction materials have risen by almost 20% in the past year. However, the biggest increases seem to be over. Other costs such as labour have risen less sharply, so the total cost of materials and wages in October 2022 was about 'only' 10% higher than a year earlier. Added to this is the great advantage of the set sales price of a newly built house. So, as a buyer, you know exactly where you stand. There is no 'offer and demand' dynamics involved in setting the price for new development.
The government has set the bar high in terms of the number of new development houses to be built in the upcoming decade. More and more people are living in the Netherlands, so there is a need for new homes as well. Unfortunately, the number of permits issued that are necessary with an application for development is 20% lower than last year, according to ING. As a result, fewer developers can actually start construction. The supply of new-build homes is declining in the coming years and is expected to remain at 65,000 new homes by 2023. This clashes with the government's plans to develop one million homes by 2031. That amounts to an average of 100,000 planned new homes per year.
The nitrogen crisis
The expiry of the exemption for housing development is likely to cause delays for some projects this year, unfortunately. The number of available emissions experts who assess developers' proposals has declined in recent years. As a result, the waiting time for approval is rapidly increasing. "We are seeing a lot of uncertainties in the housing market due to the shortage of feasible construction plans, long lead time of approvals and an accumulation of requirements. The sector is looking for continuity to reduce the housing shortage and build more affordable homes," Ruben Heezen, advocate at Bouwend Nederland, the association of construction and infrastructure companies, said in an interview.
New development @ Von Poll Real Estate
Von Poll Real Estate is currently offering two beautiful projects. VERTICAL CENTER consists of 14 homes for sale in Amsterdam Sloterdijk and on Scheldeplein we offer 9 luxury rental homes in the Amsterdam Rivierenbuurt area. We also sell a flat in project KAAP in Amsterdam Noord. View these projects and more information on the new development page.
The decision to buy a new-build home comes with pros and cons, just like any other major decision does. The advantages of a completely new, low-maintenance and sustainable home are currently accompanied by longer waiting times and a more limited supply. Are you curious about the possibilities of buying new development? Our real estate agents in Amsterdam, Amstelveen-Zuidas and The Hague will be happy to tell you more.
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