Lottery pick nears for 102 affordable flats in Amsterdam

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At 5pm today, people will find out if they will get brand new, affordable rental apartments of 50 square metres each in the up-and-coming Amstelkwartier in Amsterdam. However, some 5,500 people have signed up to try and score one these rarities, which means fingers and toes crossed.

And instead of paying the insane four digits a month rents many new arrivals to the city must pay, these ‘ordinary Amsterdam residents’ will get one for ‘a mere’ 725 euro a month, which is quite close to what we would consider normal these days.

The building in question, called The State, is 70 metres high, with 22 stories. The penthouse has already been sold for a million euro. Much of the building is being sold, but 102 flats are rental flats, which is actually rare nowadays, considering the real estate bubble Amsterdam is stuck in.

This type of lottery is nothing new, either. Even for plots where entire family houses will be built outside of bigger cities or in smaller villages, people enter a lottery just to hope to be able to buy a house that is not yet built on plots that don’t even have construction equipment on them yet.

(Link: at5.nl, Photo by Flickr user Taver, some rights reserved)

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