Q4 2020 Netherlands Market Report

The growth of recent years slowed significantly in 2020 due to the Covid-19 pandemic. So far, the impact of the pandemic on real estate markets has been mixed with the number of small office transactions (< 500m²) holding up and a significant decline in transactions in larger offices. Logistics and warehousing are booming due to the increase in online commerce, also partly driven by the pandemic.
Boardrooms are currently undecided on the workplace policy post corona. Offices have been underused for more than 12 months. Many tenants are reconsidering their future office use with a large amount of ‘hidden’ vacancy; space is not been actively offered but upon request can be made available. Rents remain steady, incentives are creeping upwards.