We need this so bad in the Netherlands right now! Listing price of a house in Amsterdam 525K, bidding price 641K, someone else with 660K comes and takes it away. Cries in pain after 10th bidding war lost :(

NL can easily implement this. and nothing will change.

what actually needs to happen is to change planning laws in order to tackle the massive Nimby-ism holding down society.

good luck with that! every time a government proposes taking away some of those Nimby rights there is a massive backlash across the country.

so no politician will dare approach this issue because they’ll be out of a job.

I don't know about the Netherlands, but in Canada, where you see the same scenario play out regularly, it's common to underprice the listing to attract attention (it's an advertisement, after all). The home is selling for fair market value. It's the listing that is misleading.

660k is cheap for a SFH these days sadly

It's all about location - https://www.zillow.com/homedetails/5620-Newgate-Cir-N-Stillw... seems like quite a lot of house for the price to me, but who knows.