Macro-economic Data

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    A. Demography and Macroeconomy

    A.1 Population
    VariableEnd of 2018End of 2017End of 2016SourcesVar ID
    Total population17.23 million17.13 million17.03 million
    WDI
    		A.1.1
    Total number of households7.86 million7.79 million7.72 million
    Statistics Netherlands
    		A.1.2
    Average household size2.152.162.17
    WDI and Statistics Netherlands
    		A.1.3
    Urban population (% of total)91.49% of total91.52% of total91.03% of total
    WDI
    		A.1.4
    Urban population growth (annual %)1.04%1.08%1.04%
    WDI
    		A.1.5
    A.2 Economy
    VariableEnd of 2018End of 2017End of 2016SourcesVar ID
    GDP, current prices (U.S. dollars)914,458 USD (millions)833,575 USD (millions)783,844 USD (millions)
    WEO
    		A.2.1
    GDP based on PPP valuation of country GDP (Current international dollar)993,902 USD (millions)948,182 USD (millions)890,399 USD (millions)
    WEO
    		A.2.2
    GDP per capita, current prices (U.S. dollars)53,225 USD 48,800 USD 46,165 USD
    WEO
    		A.2.3
    GDP based on PPP per capita GDP (Current international dollar)57,849 USD 55,509 USD 52,441 USD
    WEO
    		A.2.4
    GDP, constant prices (Percent change)2.81%2.87%2.19%
    WEO
    		A.2.5
    Inflation, end of period consumer prices (Percent change)1.8%1.21%.76%
    WEO
    		A.2.6
    GDP, deflator (Index)104.20101.72100.46
    WEO
    		A.2.7
    Consumer price index112.93111.04109.53
    WDI
    		A.2.8
    GINI Index28.1028.5028.20
    WDI
    		A.2.9
    Median national annual household income27,517.79 USD 28,259.11 USD 24,000.52 USD
    Eurostat
    		A.2.10
    Median urban annual household incomeNot availableNot availableNot available
     
    		A.2.11
    Urban minimum wages per month in USD1,866 USD 1,756.26 USD 1,694.97 USD
    Eurostat
    		A.2.12
    Growth in urban household income (%/year)A.2.13
    NominalNot availableNot availableNot available
     
    		A.2.13.1
    RealNot availableNot availableNot available
     
    		A.2.13.2
    Employment (% of total laborforce)A.2.14
    Self-employed15.91%15.8%15.69%
    CBS
    		A.2.14.1
    Informally employedNot availableNot availableNot available
     
    		A.2.14.2
    Unemployed3.8%4.9%6.01%
    CBS
    		A.2.14.3
    Interest Rates:A.2.15
    Central bank lending/discount rateNot availableNot availableNot available
    IFS
    		A.2.15.1
    Yield on 3 months treasury billsNot availableNot availableNot available
    OECD
    		A.2.15.2
    Yield on 10-year Government bond.58%.52%.34%
    DNB
    		A.2.15.3
    Average bank deposit rate1.46%1.39%1.59%
    IMF
    		A.2.15.4
    Lending rate1.5%1.6%1.7%
    IMF
    		A.2.15.5
    B. Housing Market
    B.1 Housing Stock: Production, Transactions
    VariableEnd of 2018End of 2017End of 2016SourcesVar ID
    Number of dwelling units:B.1.1
    Total7.74 million7.69 million7.64 million
    CBS
    		B.1.1.1
    Percentage of vacant unitsNot available4.6% of total4.8% of total
    ECB
    		B.1.2
    Characteristics of housing stock:B.1.3
    Average dwelling unit size-existingNot availableNot availableNot available
     
    		B.1.3.1
    Tenure in urban areas (%):B.1.4
    Owner-occupied units69% of total69.4% of total69% of total
    Eurostat
    		B.1.4.1
    % of owner units with a mortgage60.5% of total60.7% of total61% of total
    Eurostat
    		B.1.4.2
    Private rental units30.1% of total30.6% of total31% of total
    Eurostat
    		B.1.4.3
    Public / social rental units1% of total.8% of total.7% of total
    Eurostat
    		B.1.4.4
    % of urban units with state recognized lienable titleNot availableNot availableNot available
     
    		B.1.4.6
    Estimated Number of units completed/yearB.1.5
    Formal sector/registered66,585 units62,982 units54,849 units
    CBS
    		B.1.5.1
    Number of recorded urban housing transactions/year218366241860214793
    Hypostat
    		B.1.6
    How complete is this measure for formal sector transactions?  Not available
     
    		B.1.7
    B.2 Housing Prices and Cost for Urban Areas or Capital City
    VariableEnd of 2018End of 2017End of 2016SourcesVar ID
    Median urban house price in USD:B.2.1
    New housing435,552.94 USD 293,667.75 USD 263,839.68 USD
    NVM
    		B.2.1.1
    Existing housing337,961 USD 296,705 USD 269,370 USD
    CBS
    		B.2.1.2
    Median house price to median annual HH income:B.2.2
    Urban15.8310.3910.99
    Research
    		B.2.2.1
    Capital cityNot availableNot availableNot available
     
    		B.2.2.2
    Annual average % change in median house prices:B.2.3
    Yearly Rate48.31%11.31%8.03%
    Research
    		B.2.3.1
    1997-2007 average rateNot availableNot availableNot available
     
    		B.2.3.2
    M2 construction cost for median quality houseB.2.4

    back to top | Country Data:
    Notes: €248,325. IMF annual average market exchange rate for 2007 used (€0.73 = 1 USD).
    Notes: €252145. IMF annual average market exchange rate for 2008 used (€0.68 = 1 USD). E248000 1st Q 2010; 3.2% below 1st Q 2009.
    Notes: 1956; Nationale Hypotheek Garantie is a private guarantor that receives support from the state. It is not an insurer and can claim back losses from former owners. It is not supervised by the Central Bank.
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: In addition, interest accrcruing on principle payments deposited in special savings or investment accounts are tax excempt.
    Notes: LTVs are high because of the high upfront transaction costs and taxes. LTV's are calculated on the foreclosure value rather than the marketprice. Average LTV on total outstanding mortgages is 40%.
    Notes: -0.02%
    Notes: -0.26%
    Notes: -0.32%
    Notes: -0.33%
    Notes: -0.36
    Notes: -0.43
    Notes: -0.55
    Notes: 100% deduction for pre-2013 loans and post-2013 fully amortizing loans (within 30 yrs).
    Notes: 100% interest deductions
    Notes: 100% interest deductions
    Notes: 16% from insurers, 24% from pension funds
    Notes: 19% from insurers, 24% from pension funds
    Notes: 1956; Nationale Hypotheek Garantie is a private guarantor that receives support from the state. It is not an insurer and can claim back losses from former owners. It is not supervised by the Central Bank.
    Notes: 1956; Nationale Hypotheek Garantie is a private guarantor that receives support from the state. It is not an insurer and can claim back losses from former owners. It is not supervised by the Central Bank.
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 2010=100
    Notes: 25% of the overall market share belongs to insurance companies. 12% belongs to state municipalities and private persons.
    Notes: 30 firms fund mortgage loans; approximately 60 brands originate mortgages
    Notes: 30 firms fund mortgage loans; approximately 60 brands originate mortgages
    Notes: 5% from insurance group banking subsidiaries, 8% from insurance companies, 3% from pension funds, 8% from other domestic and international parties
    Notes: 6% transfer tax on existing homes; 19% VAT on new homes
    Notes: 6% transfer tax on existing homes; 19% VAT on new homes
    Notes: ABN AMRO / Fortis was taken over by the state in 2008 (intended to be a temporary measure); ING received state support.
    Notes: all areas, not just urban
    Notes: all areas, not just urban
    Notes: all areas, not just urban
    Notes: all areas, not just urban
    Notes: all areas, not just urban
    Notes: all areas, not just urban
    Notes: all areas, not just urban
    Notes: all areas, not just urban
    Notes: Approximately 30% of outstanding mortgages are securitized; after 2008 this proportion fell.
    Notes: Approximately all transactions costs are 10% of the home value including 6% transfer tax for existing homes. This is an estimate in a context of fierce competition on fees
    Notes: As of 2010 the max LTV is 112% and is allowed only for NMG guaranteed mortgages.
    Notes: As of 2010 the max LTV is 112% and is allowed only for NMG guaranteed mortgages.
    Notes: As of July 1, 2009, the cost limit increased up to 48,611.10 USD, meaning that the NMG reaches 80% of the housing market.
    Notes: Average LTV
    Notes: Average LTV
    Notes: Bank nonperforming loans to total gross loan
    Notes: Bank nonperforming loans to total gross loan
    Notes: Bank nonperforming loans to total gross loan
    Notes: Bank nonperforming loans to total gross loan
    Notes: Bank nonperforming loans to total gross loan
    Notes: Bank nonperforming loans to total gross loan
    Notes: Bank nonperforming loans to total gross loan
    Notes: Bank nonperforming loans to total gross loan
    Notes: Besides real estate taxes, municipal authorities levy other taxes and charges such as building charges that are related to building permits. Such charges can be very high so a critical review is advised before payments are to be made. Other possible taxes include polder board taxes orland-draining rights, wastewater pollution tax and sewage system tax, sufferance tax, refuse matter tax, groundwater tax, ecological taxes and the energy tax. These taxes and their rates vary from municipality to municipality, so consultation with makelaar or notaris is necessary.
    Notes: borrower has to pay upfront fee of 0.7% of the mortgage amount for the NHG
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Converted from EURO to USD using yearly exchange rates
    Notes: Deduction of mortgage interest payments. There is a maximum deduction percentage of 51% in 2015. This maximum is reduced by 0,5%-point every year until it reaches 38%. The interest deductibility is conditional on amortization: at least based on an annuity scheme with a 30-years repayment scheme
    Notes: Discount on purchase price of a formerly rental home.
    Notes: Discount on purchase price of a formerly rental home.
    Notes: Dutch Mortgage Law
    Notes: Estimate from 2 to 3.
    Notes: Estimate from 2 to 3.
    Notes: Estimate from 2 to 3.
    Notes: Estimate.
    Notes: Estimate; ABN AMRO label.
    Notes: Estimate; ABN AMRO label.
    Notes: Growth rate is on a national scale.
    Notes: Growth rate is on a national scale.
    Notes: Growth rate is on a national scale.
    Notes: Growth rate is on a national scale.
    Notes: If a property is rented out, a flat rate tax of 30% is levied based on the assumption that a taxable yield of 4% is made on the asset. This results in an annual tax of 1.2% of the value of the asset.
    Notes: If a property is rented out, a flat rate tax of 30% is levied based on the assumption that a taxable yield of 4% is made on the asset. This results in an annual tax of 1.2% of the value of the asset.
    Notes: If a property is rented out, a flat rate tax of 30% is levied based on the assumption that a taxable yield of 4% is made on the asset. This results in an annual tax of 1.2% of the value of the asset.
    Notes: If a property is rented out, a flat rate tax of 30% is levied based on the assumption that is taxable yield of 4% is made on the asset. This results in an annual tax of 1.2% of the value of the asset.
    Notes: IMF annual average market exchange rate for 2009 used (€0.72 = 1 USD).
    Notes: IMF annual average market exchange rate for 2009 used (€0.76 = 1 USD).
    Notes: IMF annual average market exchange rate for 2011 used (€0.78 = 1 USD).
    Notes: IMF end of period market exchange rate for December 2007 used (€0.68 = 1 USD).
    Notes: IMF end of period market exchange rate for December 2008 used (€0.72 = 1 USD).
    Notes: IMF end of period market exchange rate for December 2009 used (€0.69 = 1 USD).
    Notes: IMF end of period market exchange rate for December 2010 used (€0.75 = 1 USD).
    Notes: IMF end of period market exchange rate for December 2011 used (€0.77 = 1 USD).
    Notes: In 2016, securitisations fell further behind covered bonds as a funding source for Dutch banks. The amount outstanding in external securitisations fell by 11% to EUR 50 billion, EUR 47 billion of which relates to residential mortgage loans. The amount outstanding in covered bonds in 2016 on the other hand climbed by 10% to EUR 67 billion
    Notes: In 2016, securitisations fell further behind covered bonds as a funding source for Dutch banks. The amount outstanding in external securitisations fell by 11% to EUR 50 billion, EUR 47 billion of which relates to residential mortgage loans. The amount outstanding in covered bonds in 2016 on the other hand climbed by 10% to EUR 67 billion
    Notes: In addition, interest accrcruing on principle payments deposited in special savings or investment accounts are tax excempt.
    Notes: In addition, interest accrcruing on principle payments deposited in special savings or investment accounts are tax excempt.
    Notes: Insurers 13.6%, foreign parties 6.7% and others 3.7%
    Notes: Insurers 15%+pension funds 20%
    Notes: Insurers 16%+pension funds 22%
    Notes: Interest only mortgage with a 5 year fixed rate calculated over a 30 year term is the prevalent mortgage product. Tax incentives gave rise to different types of mortgage products where interest is paid to the lender and principle payments are deposited in tax excempt savings, investment and/or insurance accounts at third party institutions. Principle payments may or may not amortize the loan. Interest payments can be variable or fixed for different period between 5 and 30 years.Most mortgages have fixed interest rates.
    Notes: Interest only mortgage with a 5 year fixed rate calculated over a 30 year term is the prevalent mortgage product. Tax incentives gave rise to different types of mortgage products where interest is paid to the lender and principle payments are deposited in tax excempt savings, investment and/or insurance accounts at third party institutions. Principle payments may or may not amortize the loan. Interest payments can be variable or fixed for different period between 5 and 30 years.Most mortgages have fixed interest rates.
    Notes: Interest paid on a mortgage is tax deductible for up to 30 years.
    Notes: Interest paid on a mortgage is tax deductible for up to 30 years.
    Notes: Interest paid on a mortgage is tax deductible for up to 30 years.
    Notes: Interest paid on a mortgage is tax deductible for up to 30 years.
    Notes: It is currently 103% and will decrease by 1% every year until it is 100%
    Notes: Law Financial Supervision
    Notes: Law Financial Supervision
    Notes: Law Financial Supervision
    Notes: Law Financial Supervision
    Notes: Law Financial Supervision
    Notes: Law Financial Supervision
    Notes: Law Financial Supervision
    Notes: Level 2009: 2235 arrears for 120 days or more past due.
    Notes: LTVs are high because of the high upfront transaction costs and taxes. LTV's are calculated on the foreclosure value rather than the marketprice. Average LTV on total outstanding mortgages is 40%.
    Notes: Maximum LTV for NMG guaranteed mortgages.
    Notes: Municipal authorities levy property tax on all immovable properties, based on the council-rated value which is determined yearly. The rate varies depending on location.
    Notes: Municipal authorities levy property tax on all immovable properties, based on the council-rated value which is determined yearly. The rate varies depending on location.
    Notes: Municipal authorities levy property tax on all immovable properties, based on the council-rated value which is determined yearly. The rate varies depending on location.
    Notes: Municipal authorities levy property tax on all immovable properties, based on the council-rated value which is determined yearly. The rate varies depending on location.
    Notes: Municipalities and the state back up the Guarantee Fund until 2011. After 2011 only the state will provide back up.
    Notes: Municipalities and the state back up the Guarantee Fund until 2011. After 2011 only the state will provide back up.
    Notes: Municipalities and the state back up the Guarantee Fund until 2011. After 2011 only the state will provide back up.
    Notes: Municipalities determine the value of immovable property (WOZ value) each year. If you own any immovable property, for example a house or business premises, you will receive a WOZ decision from your municipality every year giving the WOZ value. This value affects the level of several taxes, including property tax and income tax.
    Notes: National minimum wages, including non-urban areas
    Notes: National minimum wages, including non-urban areas
    Notes: National minimum wages, including non-urban areas
    Notes: National minimum wages, including non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: National rate, includes non-urban areas
    Notes: New mortgages with LTV ratio over 90% kept rising along with higher house prices
    Notes: notary, real estate agent, taxation
    Notes: Number of arrears after 120 days in terms of outstanding NHG mortgage loans.
    Notes: Number of arrears after 120 days in terms of outstanding NHG mortgage loans.
    Notes: Percentage of people living in owner occupied homes
    Notes: Percentage of people living in owner occupied homes
    Notes: Percentage of people living in owner occupied homes
    Notes: Percentage of people living in owner occupied homes
    Notes: Percentage of people living in owner occupied homes
    Notes: Phased out in 2010
    Notes: Phased out in 2010
    Notes: PMT-to-income on € 100.000 household income, given 5.25% interest rate.
    Notes: PMT-to-income on € 100.000 household income, given 5.25% interest rate.
    Notes: Price discount for purchasing social rental houses under special schemes of housing associations.
    Notes: Privacy law.
    Notes: Purchase subsidies for low incomes will be phased out in 2010; interest free loans for first time buyers in a number of municipalities.
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Sale prices of houses, converted from EURO to USD with average exchange rate
    Notes: Self employed/labor force*100
    Notes: Self employed/labor force*100
    Notes: Self employed/labor force*100
    Notes: Subsidies are provided for first time home-owners and low-income households; estimate at less than median income.
    Notes: Subsidies are provided for first time home-owners and low-income households; estimate at less than median income.
    Notes: Tax on imputed rental income for owned homes.
    Notes: Tax on imputed rental income for owned homes.
    Notes: Tax on profit gains social rental sector.
    Notes: Tax on profit gains social rental sector.
    Notes: The DNB and AFM to undertake a cross-sectoral review of credit underwriting standards of mortgages
    Notes: The financial supervisor (AFM) established rules that require lenders to inform the customer of the most suitable mortgage options available.
    Notes: The financial supervisor (AFM) established rules that require lenders to inform the customer of the most suitable mortgage options available.
    Notes: The financial supervisor (AFM) established rules that require lenders to inform the customer of the most suitable mortgage options available.
    Notes: The number is decreasing since subsidy funds are drying up.
    Notes: The number is decreasing since subsidy funds are drying up.
    Notes: There is no centralized coduit or liquidity facility in Netherlands.
    Notes: Transfer tax is levied at a rate of 2% for private residences and 6% for other immovable properties.
    Notes: Transfer tax is levied at a rate of 2% for private residences and 6% for other immovable properties.
    Notes: Transfer tax is levied at a rate of 2% for private residences and 6% for other immovable properties.
    Notes: Transfer tax is levied at a rate of 2% for private residences and 6% for other immovable properties.
    Notes: Transfer tax on existing homes of 6% of the market value of the house.
    Notes: With the invention of Conditional Pass-Through (CPT) covered bonds, the relative attractiveness of RMBS as funding instruments has fallen further as several (mainly smaller) issuers were now also able to enter the covered bond market.