Quarterly gross residential mortgage lending in the Netherlands 2016-2022
The gross residential mortgage lending in the Netherlands rose with some fluctuation from the first quarter of 2016 to the third quarter of 2022. In the second quarter of 2022, gross lending peaked at a value of approximately 46 billion euros, followed by a decrease to 38 billion euros in the third quarter of the year. Within Europe, the Netherlands counts as one of the countries with the highest mortgage debt among private individuals. This has a political background as the Dutch tax system allowed homeowners for many years to deduct interest paid on a mortgage from pre-tax income for a maximum period of thirty years, essentially allowing for income support for homeowners. In the Netherlands, this system is known as hypotheekrenteaftrek. Since 2014, the Dutch government is slowly scaling this down, with an acceleration planned from 2020 onwards.
