Still no recovery on Dutch officemarket

The demand for officespace has drastically declined in the first half year of 2003 in the most important Dutch officecities. This can be concluded from the Dutch City Reports, the quarterly report by real estate advisor Jones Lang LaSalle.

Especially the adjacent municipalities have high percentages of empty standing officespace. In The Hague the semi-annual transactionvolume was significantly lower that last year’s figures. Although in some cities large scale office-users are active, the total take-up of office space in 2003 will remain under the level of 2002 for most cities.

The non-profit sector has been the most active sector, relatively speaking. Large-scale transactions only took place in Amsterdam and Utrecht. As a result of newly built developments which will be delivered in the coming months, the supply will increase even further.

The toprents have remained stable in the second quarter of 2003, as these were supported by concessions such as rent-free periods and contributions for furnishing. Jones Lang LaSalle maps the officemarket of the five largest Dutch cities and its adjacent municipalities.

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