Q1 2021 Netherlands Market Report

The impact of the Covid-19 pandemic continued to manifest itself in the first quarter of 2021. Hidden vacancy is slowly becoming more visible with a decrease in take-up and an increase of supply.

The increase of sublease supply would seem to indicate that boardrooms are slowly starting to take decisions on post-corona accommodation policies. Should more organisations decide to recalibrate their office occupation, a further increase of supply is expected. Rents remain steady, incentives are stabilising after a period of increase. Amsterdam remains an outlier with activity amongst tech occupiers particularly strong.

Even though Covid measures are beginning to be lifted, logistics and warehousing are still experiencing the benefits of the pandemic although there is a perception that tenant demand is beginning to ease.