Take-up in the Dutch industrial market plunged 45% in the first five months of the year ro 760,000 m2, according to a new report from Troostwijk Research. Investment volume fell even more sharply by 55% compared to the year-earlier period to EUR 190 mln while supply edged up by 5% to 8 million m[sup]2[/sup].
Take-up in the Dutch industrial market plunged 45% in the first five months of the year ro 760,000 m2, according to a new report from Troostwijk Research. Investment volume fell even more sharply by 55% compared to the year-earlier period to EUR 190 mln while supply edged up by 5% to 8 million m2.
The downturn in the Dutch industrial market set in during the second half of 2008, the report said. For full-year 2008, take-up of industrial space totalled 2.9 million m2, a decline of 14% on the record booked in 2007.
Average rental prices in the first five months of the year totalled EUR 47 per m2. The size of investment transactions fell significantly, while foreign investors virtually disappeared from the market.
Average initial yields totalled 8.9% in the first five months compared to 8.5% in the year-earlier period.
