Surge in Dutch Mortgage Applications: First-Time Buyers Make Headway in Q3
Mortgage applications in the Netherlands jumped 16% in Q3, reaching over 134,000, while first-time buyers now represent more than 40% of the market. This trend offers fresh opportunities—and continued affordability challenges—for prospective homeowners.
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Renting in the Netherlands comes with unique rules, legal phrases, and housing abbreviations that can be tricky. The Luntero Rental Glossary is your guide to every rental term — from tenancy agreements, deposits, and agency fees to utility charges, rent control, and tenant rights. Whether you’re new to renting, moving as an expat, or just want to avoid hidden costs, our glossary helps you rent smarter, negotiate better, and protect yourself from mistakes.
Surge in Dutch Mortgage Applications: First-Time Buyers Make Headway in Q3
The third quarter of the year saw a remarkable 16% rise in mortgage applications across the Netherlands, climbing to over 134,000 submissions compared to the same period last year. According to data from the Mortgage Data Network (HDN), this upswing reflects both a resurgent buyers’ market and growing confidence among first-time buyers. With first-time purchasers now accounting for more than 40% of all home purchases—up from just 30% in 2018—newcomers are staking a stronger claim in the Dutch home-ownership landscape.
Record Growth in Mortgage Applications
HDN’s figures distinguish between the buyers’ market—those seeking a mortgage to purchase a home—and the non-buyers’ market, which includes applications for raising existing mortgages for renovations or other financial needs. In Q3:
Buyers’ market applications reached 83,600, with upscalers (sellers moving to a more expensive property) forming the largest subgroup at 17,990 requests.
Non-buyers’ market applications climbed to 56,000, driven mainly by homeowners looking to fund renovations; this segment alone accounted for 22,370 submissions.
On average, home buyers applied for a mortgage of €374,000—3% higher than a year earlier—while the average property value hit a new peak of €513,000, up 4% from Q3 of the previous year.
First-Time Buyers Gain Momentum
First-time buyers are emerging as a powerful force in the Dutch housing market. The Land Registry (Kadaster) reports that over four in ten homes sold in the first half of the year went to newcomers, compared to three in ten in 2018. Several factors are contributing to this shift:
Pooling Resources: More first-time buyers are entering the market as couples, sharing costs and improving their borrowing capacity. Terraced houses remain a popular choice due to their relative affordability.
Investor Sell-Offs: Investors selling former rental apartments have introduced a wave of lower-priced homes, widening the pool of options that fit first-time budgets.
Market Fluidity: Increased upward mobility among existing homeowners frees up entry-level properties, creating a ripple effect that benefits newcomers.
Despite these gains, first-time buyers still face steep barriers in the form of down payment requirements and high purchase prices.
Regional Trends Across the Netherlands
HDN’s Q3 report highlights growth in mortgage applications in every province, with notable regional variations:
Utrecht and Drenthe led the pack in percentage growth of buyers’ market applications.
Friesland and Groningen saw the sharpest rises in average home values over the past year.
Utrecht remains the most expensive province, with an average home price of €608,200.
These regional differences shape where first-time buyers and upscalers choose to invest. More affordable provinces attract new homeowners looking to maximize their borrowing power, while high-demand regions like Utrecht remain dominated by buyers with larger budgets.
Affordability Challenges and Price Gaps
Although the increase in mortgage activity signals a healthier market, affordability remains a critical concern, especially for those taking their first step onto the property ladder. HDN director Jennifer op ’t Hoog notes that while market fluidity is positive, “affordability for first-time buyers is under pressure due to high prices and a substantial amount of down payment required.”
Data from the Land Registry illustrate the widening price gap:
Buyer Type
Average Purchase Price (Q2 2025)
Price Difference vs. First-Time Buyers
Couples Upscaling
€640,000
€200,000
Couples First-Time Buyers
€440,000
—
Solo Upscalers
€485,000
€110,000
Solo First-Time Buyers
€375,000
—
Upscalers benefit from the equity in their existing homes, giving them a significant edge over first-time buyers. This dynamic underscores the need for targeted policy measures—such as enhanced huurtoeslag (rent allowance) schemes or starter-home incentives—to help newcomers compete.
What This Means for Renters and Prospective Buyers
For renters weighing the transition to home ownership, the current landscape offers both opportunities and cautionary lessons:
Opportunity: The growing stock of entry-level homes can provide more choices for first-time buyers ready to make the leap.
Challenge: High purchase prices and substantial down payments mean many will need to save longer or seek financial support.
In the meantime, renting remains an attractive and flexible option. It allows individuals and families to build savings, explore different neighbourhoods, and maintain mobility as they prepare for future home purchase.
Conclusion
The 16% surge in Q3 mortgage applications underscores renewed activity in the Dutch housing market, with first-time buyers making notable strides. While regional disparities and affordability hurdles persist, the trend toward greater market fluidity could signal more accessible pathways to ownership over time.
Ready to explore rental options while you plan your long-term move? Discover how easy it is to find your next home on Luntero—the Netherlands’ simplest way to browse and secure rental listings.
Luntero Rental Glossary
Understand Dutch rental terms before you sign the lease.
Renting in the Netherlands comes with unique rules, legal phrases, and housing abbreviations that can be tricky. The Luntero Rental Glossary is your guide to every rental term — from tenancy agreements, deposits, and agency fees to utility charges, rent control, and tenant rights. Whether you’re new to renting, moving as an expat, or just want to avoid hidden costs, our glossary helps you rent smarter, negotiate better, and protect yourself from mistakes.
