28-08-2015 - The end users activity on the Dutch market for office space in 2015 so far remained limited. The economic recovery has not yet resulted in a significant growth of take-up levels. Although the take-up of office space in the first six months slightly increased on the same period of 2014 with 374,000 m², the demand remains below previous years. This is shown in the Office Market Report H1 2015 published by Colliers International. Only two transactions involving over 10,000 m² took place, compared to ten in the previous year. A positive development can be seen in secondary locations such as Amsterdam Sloterdijk where favourable rents and improvements in facilities have led to more activity.
Compared to the end of 2014 the total market supply of office space increased with 2% to 7,3 million m². Supply is increasing because many companies are vacating larger premises in order to move into smaller offices, because of reorganisations and implementation of new workplace concepts. The observed trend break of increasing vacancy forces the market to focus even more on how to lower the supply in the market. Also regarding the high amount of hidden vacancy in the market. Conversion projects and a low volume of construction projects should lower the supply level, but this seems to be insufficient to tackle the increasing supply.
For the second half of 2015 no big changes are expected in the market for office space. In most cases transactions will come from companies that relocate to other locations, with the exception of fast growing (technology) companies, especially in the cities Amsterdam and Eindhoven.
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