Half a million euros for 18 square meters in a prime location: a parking space in the city center of Amsterdam is for sale for 495,000 euros. The property near Vondelpark in the famous museum district is being offered on the real estate website Funda, making it the most expensive parking space in the Netherlands, broadcaster RTL reported on Thursday.

According to the advertisement by real estate agent J. Heule, the 18 square meter parking space is located in a closed building complex “in the most famous and exclusive shopping street in the Netherlands.” According to the advertisement, the location on Hooftstraat near the Rijksmuseum and Van Gogh Museum can alternatively be rented for 750 euros per month.

The housing shortage is an explosive issue in the Netherlands. According to a 2023 study, there is a shortage of around 390,000 apartments in the country. The housing crisis is driving prices ever higher – affordable apartments are hard to find.

According to a report from last year, the average price for an apartment in the Netherlands is around 430,000 euros – well below the price of the 18 square meter parking space. In Amsterdam alone, in 2023 there was not a single apartment that was affordable for middle-income single people, as the website Mortgage wrote.

Parking spaces are also in short supply in the Netherlands since many of them were closed to ban cars from city centers. Because they are so rare, their value increases, RTL now reported. Nevertheless, such a parking space is “of course not worth half a million euros”.