While supply of office and industrial space continues to grow in the Netherlands, take-up fell in the first six months of the year, a new report by market leader DTZ Zadelhoff concludes. Office take-up fell 40% to 500,000 m2, the lowest level since the beginning of this decade. The company is maintaining its forecast that full-year office take-up will total 1 million m[sup]2[/sup].
While supply of office and industrial space continues to grow in the Netherlands, take-up fell in the first six months of the year, a new report by market leader DTZ Zadelhoff concludes. Office take-up fell 40% to 500,000 m2, the lowest level since the beginning of this decade. The company is maintaining its forecast that full-year office take-up will total 1 million m2.
Industrial takeover fell 32% to 950,000 m2 while supply rose 9%, DTZ said. The adviser is forecasting that total full-year take-up in this segment will come to 1.8 million m2. There are major regional differences, the report added, pointing to a number of large logistics transactions in rotterdam and Breda. Other regions failed to register larger transactions.
Frans van Toor, partner at DTZ Zadelhoff and responsible for Investments and Research said there was no sign of recovery yet in the market. 'Unemployment is expected to rise significantly. That will seep through to everything, consumer spending, banks' strategy and demand for office and industrial space. Nevertheless, we expect the market to stabilise in the second half of the year.'
