Declines in supply will cause property investors in the Netherlands to move away from Amsterdam to find office space opportunities elsewhere in the country, one expert believes.
Clive Pritchard, Savills’ head of sales in the Netherlands, made the claims after his company released its latest Market in Minutes Report, which suggests the country’s commercial real estate market will continue growing throughout the year.
According to pie-mag.com, the real estate consultancy predicts that the national market could be worth as much as €4 billion by the end of 2014. At the end of 2013, the figure stood at €3.4 billion.
Mr Pritchard was quoted by propertywire.com as saying: “Interest in Dutch real estate has significantly increased over the past 12 months, both from overseas and domestic buyers,’ said Clive Pritchard, head of Savills in the Netherlands.
“The prime office investment market in Amsterdam was particularly strong in 2013, however as available supply diminishes, we expect buyers to turn increasingly towards prime assets in the other major cities and non-core offices in the capital.”
The report shows that office space had a 56 per cent share of the market last year, accounting for almost €2 billion of transactions. This was followed by the industrial sector with 23 per cent.
In total, four million square metres of industrial, office and retail space was taken up in 2013, equalling the previous year’s figure.
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