4 ms·
I'd be surprised if a large % of those that no longer rent out on Airbnb can just leave their properties empty. I wonder whether those properties have shifted t
by mxstbr 5y ago
I'd be surprised if a large % of those that no longer rent out on Airbnb can just leave their properties empty. I wonder whether those properties have shifted to other short-term rental platforms or whether they've gone back into long-term renting and what impact that the latter (would) have on the local rental market...
- jacquesm 5y agoThe 20% yoy housing price increases in NL have made it more than profitable to leave properties dormant. This is another factor in the housing crisis here, savings are taxed so wealthy individuals are all investing in property.
- WJW 5y agoOnly your primary residence gets to be tax-free in box 1 though? Any other real estate you own falls under box 3 and and is thus subject to the wealth tax ("vermogensbelasting"). See https://www.belastingdienst.nl/wps/wcm/connect/bldcontentnl/belastingdienst/prive/werk_en_inkomen/interneteconomie/ik-verhuur-mijn-huis/verhuur-2e-woning https://www.belastingdienst.nl/wps/wcm/connect/bldcontentnl/... for details (Dutch page)
- jacquesm 5y agoWealth tax is a very small fraction of the value of the property.
- yunohn 5y agoI think there’s a clear imbalance between stagnant money in a bank account versus rent-generating property - both being taxed as wealth tax. Hence, demand for real estate.
- jacquesm 5y agoNot to mention that the Dutch wealth tax assumes that you are making a quite specific return on your capital, whether you actually do or not isn't something the tax man cares about. With 'savings' as an asset class now a liability there is a huge flight of capital into real estate, which so far has been pretty resilient against this.