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Real Estate

Extreme Bidding Wars Are Raging in One of World’s Riskiest Housing Markets

A surge in prices in Amsterdam has left many residents feeling they won’t be able to afford a home, with even offers 30% above asking losing out.

Housing in Amsterdam.

Housing in Amsterdam.

Photographer: Dean Mouhtaropoulos/Getty Images

As real-estate prices boom across the globe, house hunters in Amsterdam say they are losing out on deals even when bidding 30% or more above asking price — in a city deemed one of the riskiest housing markets in the world.

Prices surged 16.5% in the July to September period this year from the same period in 2020, according to NVM, a Dutch association of real estate agents and appraisers, with the average price of a transaction at roughly 564,000 euros ($636,600). And even as bubble chatter grows louder in the Dutch capital known for narrow canals and gabled-roof houses, desperate house hunters say they’re willing to ignore the risk.