NETHERLANDS - Foreign investors are returning to the Dutch property market, according to the Dutch financial supervisor De Nederlandsche Bank (DNB).
"In May, foreigners bought € 171 million worth of real estate in The Netherlands, the highest amount since October 2008," said DNB.
In contrast, property sales by non-Dutch investors plummeted to a new low of €36m, so net foreign investments in Dutch property over April and May finally inched back into the black.
German investors, in particular, are keen on Dutch property, according to the DNB, as it added: "Nearly two-thirds of foreign owned real estate is owned by our neighbours to the East."
US and UK investors come in a distant second and third place as American and British investors hold 12% and 7% of foreign-owned Dutch property respectively.
Although these latest numbers show there is hope for the Dutch property market, there is no reason to celebrate just yet. In the first five months of this year, foreign property purchases amounted to a mere €400m, compared to €900m the previous year. And the only reason net foreign investments added up to €350m is the value of foreign property sales was even lower, suggested the DNB.