The office market in The Netherlands underwent a noticeable upswing in 2015 compared to 2014; there was a significant increase in take-up volume and an even more positive trend is visible in 2016. The number of transactions has decreased compared to the years prior to the financial crisis, however the average take-up of sqm per transaction has increased.
Although the Dutch economy is expanding, international political unrest (situation in Turkey and Syria, the Brexit) could adversely affect the number of transactions. This was recently visible with the intended sale of the Groot Handelsgebouw in Rotterdam. The outcome of the Brexit referendum on July 23, 2016, in which Great Britain voted to leave the European Union, was partly the cause that advanced negotiations regarding the sale of the large office complex were abandoned.
As of today, it seems the effects only have a temporary impact and a limited decrease in demand. It is expected that in Q4 2016 and in 2017 the take-up of office space in the larger cities will continue to grow. In Amsterdam there already is a deficit of supply in desirable areas, and Eindhoven also shows a scarcity of high quality real estate in the town centre. Thus the demand for new-build property is rising due to a mismatch between supply and demand.
You can download the Office Market Report H1 2016 here.