The Dutch office market was characterised by increased demand and falling supply last year, according to a survey published Friday by property adviser Jones Lang LaSalle.
The Dutch office market was characterised by increased demand and falling supply last year, according to a survey published Friday by property adviser Jones Lang LaSalle.
Barring the central town of Utrecht, The Netherlands' five biggest cities all saw increased demand in 2006, with Amsterdam (+70%), The Hague (+50%), Rotterdam (+75%) and Eindhoven (+17%) all registering higher take-up volumes. Utrecht was the only city to record an increase in supply, while Amsterdam and Rotterdam saw the biggest decline in occupancy rates. Office rents remained mostly stable in the five big cities and are expected to continue flat or rise slightly in 2007, according to the report.
The JLL survey reveals that in the current market upswing, older offices in less attractive locations are more likely to be exchanged for better-quality alternatives.