Buyers Pull Back as Rates Hit Two-Year High
According to figures from the Hypotheken Data Netwerk (HDN), which processes nearly all mortgage applications in the Netherlands, a total of 40,692 applications were submitted in April — down 11 percent compared to the same month last year. The main driver behind the drop is the steady climb in mortgage rates. Average 10-year fixed rates are now hovering around 4 percent, the highest they've been in over two years.

That kind of increase makes a real difference in monthly payments, and many buyers are simply choosing to wait.

The share of applications coming from homebuyers slipped from 59 percent to 57 percent year-on-year. First-time buyers felt the pinch the most.

They submitted 11,762 applications in April, down from more than 14,000 the previous year. Existing homeowners looking to move also became noticeably more cautious. HDN noted that many people had rushed to lock in mortgages in March, fearing rates would rise even further.

As tensions in the Middle East escalated and rates continued to climb, that momentum came to a halt.

Luxury Homes Gain Ground While New Builds Lose Share
Despite the overall decline, there was one area that actually grew — high-end properties. Applications for homes priced above 750,000 euros climbed from 12 percent to 14 percent of total filings.

In real numbers, that segment rose from roughly 5,650 to nearly .