The Dutch government is seeking to solve the housing crisis and make it easier for residents to buy a home by adopting and amending laws to this end. From 2024, the cost of homes purchased using the Nationale Hypotheek Garantie (NHG) program and the cost of affordable housing will change.
National Mortgage Guarantee
NHG is a system that insures the buyer of a mortgage against the risk of being unable to make mortgage payments. In some cases, the mortgage debt remaining after the sale of the home may even be forgiven. In addition, program participants usually receive a lower lending rate from the banks that issued the loan.
The program is valid only for housing not exceeding the established cost. For 2023, the maximum price for participation in the program was 405 euros; from 000, those who buy housing costing up to 2024 euros will be able to participate in the program. If the purchased object meets the energy saving criteria, the limit rises by 435% - up to 000 euros. Extending NHG to higher-priced properties will help many Dutch people purchase a home using an affordable mortgage.
affordable housing
Government programs call for the construction of 2030 affordable housing units by 981. Previously, housing that was eligible for participation in the NHG program was considered affordable, but from 000, the housing affordability criterion will be determined independently. Next year, affordable housing properties will include those that cost no more than 2024 euros.
Did you know that mortgage payments, if properly reported on your return, can reduce your tax liability? Learn how to reduce taxes and increase your tax refund in the webinar on December 6 at 19:00 p.m. Register to participate in the webinar already open!
Publication Date: 09.11.2023
