How did house prices change between 2011 and 2024?
On Bonaire, average house prices almost doubled between 2011 and 2024. Between 2011 and 2014, prices on Bonaire remained relatively stable, and in 2015 they actually declined, but after that they started to rise in 2016. This upward trend continued until 2024, when the index stood at 192.9.
The number of homes sold, the total transaction value and the number of mortgages issued also increased during this period.
| Year | Price index for existing owner-occupied homes |
|---|---|
| 2011 | 100 |
| 2012 | 102.7 |
| 2013 | 102.3 |
| 2014 | 102.2 |
| 2015 | 95.2 |
| 2016 | 110.5 |
| 2017 | 109.4 |
| 2018 | 133.0 |
| 2019 | 135.5 |
| 2020 | 148.1 |
| 2021 | 149.2 |
| 2022 | 179.3 |
| 2023 | 183.0 |
| 2024 | 192.9 |
More home sales on Bonaire
In addition to prices, the number of homes sold on Bonaire also increased. In the first four years following the start of registration in 2011, the number of housing transactions remained fairly stable at around 150 to 160 per year. In 2020, there was a dip, with 182 transactions recorded. In 2024, there were 275 transactions, an increase of 77 percent compared to 2011. This rise is partly attributable to the completion of new housing projects.
At the neighborhood level, the number of transactions has seen a particular increase in Noord Saliña, Playa and Tera Cora since 2015. In 2018, Tera Cora recorded a significant peak in transactions, the majority of which were in Belnem, where a number of new-build homes were completed around that period. Between 2021 and 2023, the number of transactions in Nikiboko declined somewhat. In Rincon, Nikiboko and Entrejol, the share of total transactions has remained relatively low but stable.
| Year | Tera Cora | Noord Saliña | Playa | Entrejol | Nikiboko | Rincon |
|---|---|---|---|---|---|---|
| 2011 | 31 | 44 | 33 | 32 | 11 | 4 |
| 2012 | 37 | 34 | 42 | 19 | 16 | 3 |
| 2013 | 33 | 33 | 40 | 21 | 31 | 10 |
| 2014 | 42 | 39 | 31 | 24 | 16 | 4 |
| 2015 | 28 | 50 | 44 | 15 | 7 | 6 |
| 2016 | 60 | 66 | 44 | 22 | 16 | 7 |
| 2017 | 43 | 70 | 43 | 30 | 22 | 6 |
| 2018 | 130 | 74 | 67 | 30 | 22 | 4 |
| 2019 | 87 | 63 | 49 | 44 | 19 | 4 |
| 2020 | 56 | 38 | 32 | 27 | 22 | 7 |
| 2021 | 88 | 89 | 89 | 33 | 50 | 2 |
| 2022 | 98 | 92 | 60 | 46 | 33 | 4 |
| 2023 | 88 | 67 | 69 | 42 | 19 | 8 |
| 2024 | 81 | 61 | 55 | 36 | 35 | 7 |
Rise in total transaction value
The increase in the number of sales is also reflected in the total transaction value, which stood at 37 million US dollars in 2011. For several years, it remained at around this level, before rising sharply to 111 million dollars in 2018. In 2019 and 2020, the total transaction value fell again, to just under 66 million in 2020. There was then a substantial increase followed to around 135 million dollars in 2021. In 2024, the total transaction value amounted to over 123 million dollars, more than three times the level in 2011.
| Year | Total value of homes sold |
|---|---|
| 2011 | 37.4 |
| 2012 | 36.7 |
| 2013 | 44.3 |
| 2014 | 40.3 |
| 2015 | 40.9 |
| 2016 | 59.2 |
| 2017 | 52.2 |
| 2018 | 111.1 |
| 2019 | 80.5 |
| 2020 | 66.0 |
| 2021 | 135.2 |
| 2022 | 136.4 |
| 2023 | 146.8 |
| 2024 | 123.5 |
Number of mortgages issued
Between 2011 and 2017, the number of mortgages issued per year fluctuated between 250 and 350. In 2018, the number rose to 466, after which it was lower again in subsequent years, reaching 371 in 2024. The proportion of mortgages issued by banks as a share of the total was lowest in 2021 at 86.9 percent. The highest share was recorded in 2011 and 2016, at just under 95 percent. In 2024, more than 93 percent of all mortgages were issued by banks.