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Office Market
Snapshot
First Quarter | 2017
the total volume within this area. During the first quarter of Prime Office rents – March 2017
2017 the Randstad area continued to remain popular amongst LOCATION € US$ GROWTH %
occupiers, vacancy rates dropped as supply decreased SQ.M SQ.FT 1YR 5YR
YR YR CAGR
nationwide. Occupier demand is high for well-accessible
Amsterdam (South Axis) 425 43.0 0.0 2.5
modern multifunctional office buildings, whereas the main
Amsterdam (Central) 375 37.9 0.0 1.4
drivers of the take-up volume remained Media and Technology
Amsterdam (South-East) 195 19.7 0.0 0.0
firms and serviced offices. Rental levels on prime locations
Rotterdam 225 22.8 0.0 3.4
slightly grew, whereas alternative locations with a high level of
amenities benefit from the limited supply on prime locations The Hague 210 21.2 0.0 0.0
and registered a small increase as well. Utrecht 200 20.2 2.6 0.5
Eindhoven 160 16.2 -3.0 -1.2
Nevertheless, the positive elections stimulated the investors’ Amsterdam (Central) 4.00 4.00 4.75 7.00 4.00
confidence as well as the interest rates which remained low. Amsterdam (South-East) 6.15 6.15 6.50 8.25 5.50
Due to a limited availability on prime locations in the country Rotterdam 5.50 5.50 5.50 7.00 5.50
investors’ focus shifts to core+ investments in the larger cities. The Hague 6.00 6.00 6.00 7.00 5.75
Yields compressed further compared to previous quarter, as Utrecht 5.75 5.75 6.00 7.25 5.75
the highest declines were registered in Amsterdam Central Eindhoven 6.75 6.75 7.00 7.75 6.25
and South Axis. With respect to the yield data provided, in light of the changing nature of the market and the costs implicit in
any transaction, such as financing, these are very much a guide only to indicate the approximate trend and
direction of prime initial yield levels and should not be used as a comparable for any particular property or
transaction without regard to the specifics of the property.
8.00%
10.0%
market, especially the Randstad area which will continue to be 7.00%
Yields
6.00% 5.0%
dominant. Capital remains widespread as interest rates are
5.00%
low, however, the prognosis of a slightly increase by the end of 0.0%
4.00%
the year can influence the investors’ appetite. 3.00% -5.0%
Mar-07 Mar-09 Mar-11 Mar-13 Mar-15 Mar-17
This report has been produced by Cushman & Wakefield LLP for use by those with an interest in commercial Frank van der Sluys MSc
property solely for information purposes. It is not intended to be a complete description of the markets or
Associate Director, Head of Research, The
developments to which it refers. The report uses information obtained from public sources which Cushman &
Wakefield LLP believe to be reliable, but we have not verified such information and cannot guarantee that it is Netherlands
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