NL: Update: Amsterdam purchase protection03 May 2022
In an earlier article we wrote about the amendment to the Housing Act 2014 as of January 1, 2022. This amendment has given municipalities the opportunity to draw up rules regarding the prohibition of the rental of certain homes. A number of municipalities, including the municipality of Amsterdam, have already made use of this option.
Municipality of Amsterdam
In our previous article, we wrote that the municipality of Amsterdam planned to introduce purchase protection from 1 April 2022 for all areas of the city. In addition, the municipality of Amsterdam planned to apply the purchase protection to homes with a WOZ value up to and including € 512,000. When our earlier article was published, the city council of Amsterdam still had to decide on this proposal.
The City Council has now agreed to this and the Housing Ordinance has been amended accordingly. The purchase protection will therefore come into effect from 1 April 2022 in the form as described above. As a result, renting out homes with a WOZ value of up to 512,000 after purchase is in principle not permitted. There are only a limited number of exceptions to this.
Fines have been imposed for violations of the purchase protection. Those fines can be high.
In the event that a house is rent out while it was possible to obtain a permit or exemption for the rental, the fine is in principle € 8,700.
If a permit or exemption was not possible, the municipality of Amsterdam can impose a fine with a maximum of € 21,750 per home.
With these rules, the municipality of Amsterdam wants to prevent investors from buying homes with a WOZ value of up to € 512,000. The future will show whether this goal will be achieved. It will also have to be shown how the exceptions are dealt with.
We can imagine that you have questions about this. Please feel free to contact us. We are happy to help you.
For further information, please contact:
Tim Boer , Partner
Labré advocaten, Amsterdam
t: +31 20 3052030
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