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Real estate and rental prices for housing in Amsterdam are at a premium. Now research shows that a small group of real estate agents causes significant price increases in Amsterdam housing property by way of speculation.
That is the conclusion of a report by Meldpunt Ongewenst Verhuurgedarg (MOV), an organization that support renters against unwanted, dishonest and/or illegal rental practices. The report has been presented to Amsterdam City, the Lower House of Representatives, and the Ministry of Justice.
One example highlighted in the report is an upper-story apartment in the Albert Cuypstraat. Between January, 2006, and January, 2007, the apartment changed owners five times. During that time, the price changed from €385.000 to €875.000. Three of the transactions took place within seven minutes at the office of the same notary.
In another example, a number of upper-story apartments in the Van Ostadestraat were bought in September, 2002, for €125.000 — and, several transactions later, sold five years later for €600.000 each.
A third example is a home in Bellamystraat. Bought in July, 2006 for €375.000, it was sold in January, 2007, for €656.000.
According to the report, splitsingsvergunningen — official permits to split formerly social housing into separate units — contributes to the price hikes.
MOV representative Gert Jan Bakker says the raise in prices is not due merely to supply and demand. The MOV report claims that some real estate agents simply kick out renters and sell buildings without any modication. An empty building demands a higher price.
Amsterdam daily Het Parool reports the MOV does not know whether some price hikes are due to whitewashing of money, but the organization does ask the Ministry of Justice to look into that possibility.
The higher prices are disadvantageous not only for renters, who often are forced to leave their homes, but also for starters looking for their first home.
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