Q3 2019 Eindhoven Market Report
Eindhoven is one of the key technology hotspots in Europe. Although the office market is relatively small, technology companies based in Eindhoven, such as Philips, ASML, Signify, NXP and VDL, punch above their weight in footprint. The total office stock in Eindhoven is just under 2 million m², coming from 2.2 million m² in 2011. This is mainly due to the fact that Eindhoven has been the national capital of transformation of office space into housing in the past decade. Together with the economic growth of the past years and therefore high office take-up and the almost complete drying up of new construction, this has led to a situation that there is almost no vacancy in the CBD and city center. Here the incentives for new agreements dropped sharply and rental prices have risen slightly in the past year. Take-up of office space last year amounted to almost 77,000 m², this is the highest take-up of recent years. The vacant supply (almost 160,000 m²) decreased again to the lowest level in recent years. The vacancy rate in Eindhoven has fallen to 8.2%. In the CBD and city center the vacancy rate is below 5% that is often used as a frictional vacancy. The ratio between supply and intake (2.6) has become smaller, which means that the options for office space seekers have declined.
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