Finance

Finance News #UPDATE

Every edition of Hello Zuidas magazine features finance news related to the Zuidas district, Amsterdam or the Netherlands. Send your finance news to: hellozuidas@zuidaspublishers.nl.

HALF OF ALL YOUNG PROFESSIONALS WANT TO SWITCH JOBS IN UNDER TWO YEARS Research has shown that starters on the job market are unhappy about growth opportunities, company culture and management, and almost half of them start looking for new jobs within the first two years. Recruitment platform Magnet.me conducted a survey among over 300 employees having under ten years of work experience. Although almost 80% said they were happy in their jobs, mobility remains high. Some respondents said this was due to the fear that their temporary contracts would not be extended, but four out of five job seekers leave of their own volition.

THE CITY OF AMSTERDAM AND INVESTORS REACH AGREEMENT ABOUT THE CONSTRUCTION OF CHEAPER RENTAL PROPERTIES The City of Amsterdam has reached agreement with investors and developers about the construction of cheaper rental properties. A deal signed on Monday outlines that, in the next five years, market players in the nation’s capital will build ten thousand new mid-market rental homes. Rents in this mid-section will vary from €740 to €1030 per month. To make these agreements possible, the responsible executive councillor, Laurens Ivens, needed to relax the rules for new build in Amsterdam. Investors had stated issues with overly stringent requirements for some time, and a number of them even abandoned plans for construction in the capital for this very reason. INCREASE IN INCOME OF SELF-EMPLOYED WORKERS CONTINUES TO LAG BEHIND Self-employed workers are benefitting considerably less than salaried employees from the income improvements the government promised for this year. After 2020, the increase in income for entrepreneurs in the tax administration’s box 1 will lag even further behind, when compared to improvements for salaried employees. Tax advisor Hans Huiberts reached this conclusion based on the net income effects he calculated for entrepreneurs who pay tax on their profits in accordance with box 1. The Ministry of Finance expressed some reservations about Mr Huiberts’ calculations, but generally agrees with the outcomes.

‘HOUSING SHORTAGE CONTINUES TO RISE’ The housing shortage is rising at an even faster pace than expected. By 2022 the shortage is forecast to reach an unprecedented high of at least 360,000 homes, possibly even peaking at 380,000. This was shown in a study published in February by real estate advisor Capital Value and research firm ABF Research. Construction companies have completed a total of 77,000 new homes in the last year. This is more than in previous years and is in accordance with government objectives. Nevertheless, the housing shortage still rose to 315,000 homes at the beginning of 2020. This is more than forecast.

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