Elevated interest rates have caused major shifts in the office capital markets dynamics. CBD properties remain extremely popular for tenants, thanks to good accessibility, copious amenities and sustainable, high-quality spaces. However, this is currently not true for investors; high interest rates make desired yields and returns challenging to obtain, especially for investors dependent on financing.

2. Deals in CBD regions of the Netherlands have fallen by approx. 11% since 2021. However two notable CBD transactions occurred in 2024; the Crosstowers property in the popular Zuidas district of Amsterdam for approx. 150 mil EUR and the Edge development in Eindhoven for approx. 100 mil EUR. Deals in suburban and business parks have both risen 6% since the rate hiking cycle; these regions are popular for tenants, as they often have reasonable connectivity and good quality buildings with amenities nearby (eg: The Bijlmer region of Amsterdam), but come at a much lower price than in CBD regions.

3. The active investor pool within the office market has also shifted; more and more properties are being purchased by local (Dutch) investors. From 2015-2022, 25% of properties were purchased by Dutch investors, in 2023 and 2024 this share has jumped to 83%.