Chinese, Russians Descend on Dutch Real Estate
THE HAGUE, 21/09/13 - Rich Chinese individuals have recently become active on the Dutch property market. Russian buyers are also on the march.
A wealthy Chinese buyer is interested in Schaloen castle in Oud-Valkenburg (Limburg), with its asking price of 14 million euros probably the most expensive living abode currently for sale in the Netherlands. A compatriot of his recently bought the Eendragt estate in Burgh-Haamstede (Zeeland). Yet another Chinese buyer acquired a property on Amsterdam’s Herengracht for 3.2 million euros.
"The Chinese buyers in the top segment are new to the Dutch housing market,” says Leslie de Ruiter of exclusive estate agents Christie's. According to De Ruiter, this is due to new regulations in China making it possible to buy property abroad.
Russian buyers have been around for longer, but are now on the march. “These are primarily after the low prices. Prices have also come down in the top segment, in some cases by 25 percent. Now that prices are stabilising, they see a fantastic opportunity to step in.”
Christie's, part of the international auction and property concern, has already sold 14 exclusive residential properties this year (upwards of 2 million euros) to Russian and Asian buyers, the great majority Chinese. This is over one-quarter of all 51 exclusive houses sold by the estate agent to date.