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Amsterdam introduces obligatory owner-occupation per 1 April

Amsterdam introduces obligatory owner-occupation per 1 April

The “zelfwoonplicht”, whereby homebuyers in Amsterdam are not allowed to rent out their homes, but must occupy their homes themselves for the first four years, will take effect on April 1. The municipality has announced this.

The new rule should ensure that fewer homes are bought by investors and rented out for high prices, the so-called ‘buy-to-let’. Over the past 10 years investment funds, mostly American, have bought up 5.7 billion euros worth of houses in Amsterdam. As a result, starters often miss out.

The obligation to live in your own home applies to homes in the entire city with a WOZ value of no more than 512,000 euros. The limit is set at this amount because, according to the municipality, 60 percent of the housing stock in Amsterdam is protected, including the 25,000 affordable houses in Southeast (with a WOZ value of up to 3 tons).

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