Starters can buy new construction home more easily

The National Affordable Housing Fund will make it easier for middle-income first-time buyers to buy a new home from the end of 2024. This writes minister Hugo de Jonge in aletter to the House of Representatives.

Developers can apply to the fund, which allows homes up to €390,000 to be sold to the starter for a price below market value. €70 million has been released for this purpose. This is expected to help about 1,700 middle-income starters (up to €82,921 per year in 2024). The maximum buyer support is €70,000. Full information on criteria and selection is scheduled to be online by Oct. 14.

More buying opportunities for first-time buyers

The purpose of the National Affordable Housing Fund is to help middle-income first-time buyers buy a new home. Developers can apply to the fund for buyer support, which allows homes to be sold to the starter for a lower price than market value. This takes advantage of the already existing Buy Start scheme. The fund is revolving. This means that the money returns to the fund when starters sell their homes again. Thus, the budget remains earmarked for future first-time buyers. The National Affordable Housing Fund emerged from the Coalition Agreement 2021.

The SVn and Foundation OpMaat

A market consultation was conducted for the management of the Fund. Three potentially suitable parties emerged from this. After a careful assessment process, SVn was selected, on the basis of price and quality, in cooperation with the OpMaat foundation, to implement and manage the fund. Over the next six months, they will further set up the fund and coordination in terms of content will take place with, among others, the Ministry of the Interior and Kingdom Relations, developers and municipalities. The fund's website containing all substantive information will go live in mid-October. The first applications can be processed at the end of this year.