Is real estate in Amsterdam a bubble starting to burst?

I am passionate about real estate, for this reason I keep an eye on it. The other day I was looking at statistics and I couldn’t help but wonder: did the real estate market in Amsterdam reach a peak?

The perception is that the market is going to go up forever, prices went to the roof in the last 2 years and currently the properties are being sold higher than the asking value.

But I had a closer look at the facts.
I collected data from the website http://www.huizenzoeker.nl/woningmarkt/, it is possible to download a file with the statistics from the city hall for years 2008 to 2017 for 457 cities in the Netherlands.
The indicators available are:

• Average asking price
• Median asking price
• Asking price per square meter
• Number of houses for sale
  

Analyzing the average selling price for Amsterdam I noticed that it dropped 8% from December 2016 until April 2017.

Thinking about what could have caused this aspect and what could happen next, I identified two scenarios:

1. There was less demand in the beginning of the year because mortgage rules changed from 1st of January: only 101% of the property value can be financed with a mortgage versus 102% last year. This may be a temporary reaction but the market could pick up again.
2. The market reached its peak, the growth cannot be sustained anymore and the prices might go down.

I’m curious what the trends in other European countries are.