Netherlands: If You Buy a Newly Built House, You Can't Rent It Out

[JohnBrown1917]

housing shouldn't be used as a form of investment, other than building and selling, the housing market here in the Netherlands has been completely dysfunctional thanks to (outside) investors.

Don't forget our 'beloved' Prince.

[Martymark]

Good. I live in a different country, but here we have the same problem. Rich people (including ones who live in other countries) bought all the houses as investments, so NO ONE can afford to own a home.

Creates a ton of immediate and long term problems. Empty homes, dying local businesses, renters who don't care about their neighbors and community as much as owners would, etc.

[Z-Man]

This is true for most homes in the US that are financed with a traditional mortgage. Rental property generally has different terms and a different interest. Things get messy if the finance companies find out out that you never moved in and instead rented it out.

[Chonar]

Don't forget our 'beloved' Prince.

King*.

Unless Maxiblonde and Willem-Alexblonder spawned a male bloodmuppet this time, one that I havent heard about.

[Acidz]

It's the first good thing coming from that city.

[d00mGuArD]

What if they are the ones that buy the land and build the house? Can they rent then?

[Mighty Tim]

It is a tricky question... for me it is one were the needs of the community must trump the personal interest of another. End of the day space is needed.

[JohnBrown1917]

King*.

Unless Maxiblonde and Willem-Alexblonder spawned a male bloodmuppet this time, one that I havent heard about.

Talking about Bernhard.

[Freighter]

Coastal american cities are having similar issues with Saudi's and Chinese buying out massive chunks of property and leaving them vacant

Really should make it possible to seize them.

[arandomuser]

Dont worry donny is on the rescue! Oh wait he made it easier for foreign billionaires in russsia and china to hide their wealth in multi million dollar condos, well atleast hes targeting the real problem! those invading kids at the borders! Maybe if those invading children gave him 100 million dollars like prince mohammed bin salman they wouldnt be locked in cages.

[Donald Hellscream]

Seems kinda dumb but so does the prices being jacked up so high that average Joe can't afford a home.

[Socialhealer]

sounds great, more of this needs to be done in every country, rich people making housing unaffordable for the average working person because rent is sky high is stupid. The idea is people can buy and own their own homes, not 1 rich person own 50 homes and make a living from renting them all out so no-one can actually buy a home.

Example, i know a 3 bedroom worth around £220,000 is £1000 a month in rent, thats £12,000 a year to live there, after 18.5 years they would have paid enough to buy the house, but instead they own nothing, just the landlord gets a fat wallet and the hard working person keeps paying rent and gets stuck there.

[Jorgee]

Toronto and Vancouver have the exact same issue, and real estate price spikes are slowly spreading to neighboring cities as well. I don't know how people can expect it to continue much longer. All it's doing is driving local people away from their own communities, especially those making minimum wage or barely above. Anecdotally I've heard that it's usually Chinese investors that are driving the issue, but I'm not entirely sure.

[Doctor Amadeus]

Speaking as someone who rents out property here in the U.S I agree with this.

[melodramocracy]

Good. People shouldnt own homes.

This is the dumbest thing I've seen on the internet this week. And it's been a long week.

[Spectral]

I don't follow how this is supposed to reduce the demand for housing or increase the supply of housing. In the absence of decreased demand or increased supply, I would not expect a large change in the average price. I suppose it forces out investment, which shaves the cost of housing by whatever the localized typical market capitalization rate is; in the United States that's typically ~6%, which isn't nothing, but I doubt it's the kind of change people are hoping for. I'll be interested to see whether the change effectively contracts the supply of available housing by decreasing the liquidity of the market.

[Vash The Stampede]

Same thing is happening in parts of Canada where rich investors buy up the housing, driving the prices up so that middle class people can't afford homes.

Do you think the state should be able to tell you you can't rent out a house you own?

Yes cause this is the same problem here in America. This drives the price of homes up and causes people to rent and save no money. It's a terrible practice that needs to stop. People who buy homes with the intent to rent shouldn't be allowed.

[horbindr]

i'd rather they build more houses to keep prices down.

but telling people they can't use residential houses for business purposes seems fine to me too.

specifically: i don't mind if a person who owns 1 or 2 houses rents them out, but if its a company buying them specifically to rent them out that should be straight up treated as a business.