Dutch mortgage funds received €2bn in new investments from institutional investors such as insurers and pension funds in the first three quarters of 2024, De Nederlandsche Bank (DNB) figures have shown.
The latest figure is however less than in previous years and can be attributed to market interest rates having risen sharply during 2022.
In recent years, insurance firms and pension funds have reduced their investment in residential mortgages, both directly and indirectly. Conversely, banks have increased their share of the mortgage market, following a decade in which their mortgage holdings remained relatively constant, and growth was primarily driven by institutional investors.
In the first three quarters of 2024, the banks' mortgage portfolio grew by €17.4bn. For mortgage funds, this figure was €2bn, and for pension funds and insurance firms €2.8bn and €1.2bn, respectively. Other financial institutions accounted for €3.8bn in mortgage loans.