Expensive house expert Erik Rezelman takes us to another outlier on the Amsterdam housing market. Today we visit a ruin worth more than four million euros in Amsterdam South. “Old rotten building.”
Only the walls of the corner building on the Waldeck Pyrmontlaan in Amsterdam South are still standing. Inside it is a big mess. The house of 396 square meters is for sale for more than four million euros and, according to Erik Rezelman – AT5’s expert Dure Huizen and also a financial journalist at RTL Z – that can really only be justified by the location. The building is located in the chic Willemsparkbuurt with the Vondelpark around the corner. “The location is good, but this is really a run-down old mess. Everything is crooked, crooked and broken.”
Rezelman looked it up: “This building was bought in 2020 for three million and is now for sale for more than four. For more than ten thousand euros per square meter. That is a lot of money.” But in Zuid not even such a very strange square meter price. Were it not for the fact that in this case it concerns an ‘old rotten building’, according to Rezelman. “Amsterdam is no longer for the people of Amsterdam. It is no longer affordable. Ten thousand euros per square meter for this old gang.”
‘Half a million less’
Rezelman has not yet said it or a project developer will drive up on the scooter. He says he is certainly interested in the building, but then he has to drop ‘half a million’ from the asking price. “This house is only for developers to do,” says Rezelman. “It costs more than four million. Then one and a half million still have to be put in. That makes five and a half million. Then he has to ask seven and a half for it. That is 13,000 euros per square meter. That’s what the project developer said.”
Rezelman is not surprised if the million-dollar property is sold within a few days. “Ultimately everything is sold in Amsterdam. Everything.”