The Nieuwmarkt square used to be a no-go area until the early 1990's, due to drug trading in the streets. The area was still in development, and the square itself was a parking lot.
Since then, the atmosphere has completely, radically changed. There is now a daily street market, various outdoor cafes, pubs and restaurants. The whole neighbourhood is now very popular with locals and tourists alike.

The Waag, one of Amsterdam's oldest buildings, stands in the centre of the square, making it a very beautiful square.

Traditionally, at New Year's Eve, celebrations take place here, with a lot of firework.