The Netherlands MarketBeat

Although currently a perfect storm is in the making for inflation, official bodies such as CBS, CPB and DNB do not (yet) foresee a recession for either the Eurozone (+2.7%) or for the Netherlands (+2.8%). However, only little is needed to push countries into recession after all and a mild recession scenario with a modest contraction in the last quarter of 2022 and the first quarter of 2023 is now being considered as a realistic scenario by an increasing number of market researchers (including ING, Rabobank, various foreign banks). However, there are so many external factors at work that stand in the way of a pure modeling that there is currently no question of a broadly supported forecast of economic growth.

Although all eyes are on the Russian invasion of Ukraine since February 24, it is becoming increasingly clear that the underlying causes behind the soaring inflation cannot be traced one-on-one to the 'special military operation' of the Russian Federation, but the invasion has seriously amplified the already existing disruptions to world trade caused by corona, especially with regard to the availability of energy, raw materials and foodstuffs ultimately affecting the real estate market.

Get the full Netherlands property market picture with all the market data by downloading the reports.