Formula 1 returns to Zandvoort, Holland: growing interest in real estate market

Zandvoort is a popular seaside resort on the North Sea coast in the north of Holland. The “Parel aan Zee” (pearl by the sea) or Amsterdam Beach is a well-loved summer destination for Europeans, especially for holidaymakers from Germany and England. Demand for real estate here is rapidly on the rise. “Zandvoort is especially a good location for investors, as the Formula 1 Grand Prix 2020 is returning to the town,” said Barbara van der Grijp, Licence Partner of Engel & Völkers Kennemerland.

Zandvoort’s real estate is becoming increasingly popular

Zandvoort can be reached in less than 30 minutes by car from Amsterdam. The seaside resort has long been a popular destination in the Netherlands thanks to its nine-kilometer long sandy beach and dunes. The region has always attracted the attention of both national and international buyers. National buyers and foreign investors tend to opt for exclusive detached homes with up to 500 to 1,000 square metres of living space and large gardens offering absolute privacy in the surrounding areas. In 2018, houses in Aerdenhout, in the very proximity of Zandvoort, reached peak prices of up to 6.5 million euros. Whereas the value for properties in Zandvoort are rising. In the same period, flats fetched prices per square metre of as much as 7,500 euros.

Hamburg - This exclusive mansion occupies more than 3,500 square metres of land and is on sale for a starting price of 4.3 million euros. The property has a large garden, an indoor pool and a gym.

Return of Formula 1 triggers investment boom on real estate market

“Since the announcement that the Formula 1 Grand Prix 2020 will be taking place at the ‘Circuit Park Zandvoort’ again for the first time in 35 years, we have seen strong interest, especially among foreign investors,” said Barbara van der Grijp. Due to the high number of people attending the event, hotel and apartment developments are being planned in Zandvoort and the surrounding area in order to cope with the high number of visitors to the event.

Outlook: Real estate price increases expected for 2019

Engel & Völkers anticipates that interest in residential real estateproperty will grow over the coming months. “We forecast that demand will rise while the availability of suitable apartments and hotels will remain limited. We expect residential property prices to increase by up to ten percent by the end of the year. The same applies to locations in the immediate vicinity of Zandvoort,” said Barbara van der Grijp. “All the accommodations are already fully reserved for the Formula 1 Grand Prix weekend next year,” she said.

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