Brexit Is Making It Even Harder to Find a Flat in Amsterdam

After more than three frustrating months looking for a place to live, Laura van Overveld saw a listing for a one-bedroom apartment close to central Amsterdam that seemed promising. Although the price was a bit of a stretch at €285,000, she called the agent to schedule a viewing. The response: Forget it, 90 others were in line ahead of her. “You get the feeling that you’re just searching for nothing,” says Van Overveld, 27, an account manager at an online finance company who’s now renting a cramped flat with two other women. “Every time you see something, there are people—couples or investors—who can pay more.”

The woes of the likes of Van Overveld and, presumably, the 89 others who didn’t get the apartment are weighing on Amsterdam officials as they face an influx of wealthy newcomers because of Brexit. Dozens of companies have added Amsterdam offices as a result of the U.K.’s impending departure from the European Union, and some 2,400 jobs have been created in the Netherlands, with officials predicting many more will come. Real estate agents say they speak English with half the buyers or renters who show up for home viewings, and lender ABN Amro Group NV has stationed a Brexit team of 10 people at Amsterdam’s airport to offer mortgages to potential homebuyers flying in from London. “The people and companies coming here are a blessing,” says Udo Kock, the Amsterdam official responsible for economic affairs. “But given that the supply of housing is limited, every increase in demand leads to more pressure on the market.”