The number of homes with mortgages exceeding one million euros has risen sharply in recent years. Since 2023, the number of such mortgages has doubled, and with the year not yet over, that figure could climb even higher.
How Many Have Been Applied for This Year? #
Currently, there have been 3,700 applications for mortgages of one million euros or more, according to mortgage advisor Van Bruggen, citing data from the Hypotheken Data Netwerk (HDN).
Mortgage expert Oscar Noorlag of Van Bruggen notes that 20% of these applicants are first-time homebuyers. However, he clarifies that these are not typical first-time buyers, who average around 360,000 euros in mortgages. Instead, they are high-earning entrepreneurs who have not yet owned a home.
A first-time buyer applying for a one-million-euro mortgage with a full annuity mortgage would face gross monthly costs of about 4,750 euros. Noorlag calculates that net monthly costs would be approximately 3,670 euros after accounting for about 1,080 euros in mortgage interest tax deduction.
Who Are the Applicants for These Expensive Mortgages? #
About 66% of the applicants for these substantial mortgages are existing homeowners moving up the property ladder. In some cases, they use a bridging mortgage, which is necessary when buying a new home before selling the old one.
This leads to a higher mortgage because the proceeds from the old home cannot be used to pay down the new mortgage until the sale is complete. A bridging mortgage does not require repayment during its temporary term. Once the old home is sold, a new mortgage that must be repaid can be arranged.
A small percentage of these ultra-expensive mortgages are refinancers, often people undertaking major renovations who need additional financing.
The Explosion of Expensive Homes #
Homes in the Netherlands are becoming increasingly expensive, and this is especially true in the higher price segment. The number of homes costing more than one million euros has surged by 243% over the past five years, according to data from Calcasa.
Calcasa counted 223,000 homes priced over one million euros in 2025. According to Van Bruggen, 12% of all homes now cost more than one million euros, based on figures from the real estate platform Funda.