Amsterdam office market

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Amsterdam is likely to suffer negative consequences from the limited supply of available office space. In recent years, many vacant office buildings have been successfully transformed into homes and hotels. As a result, the supply has dropped from 1.2 million square meters to 470,000 square meters in three years. This limited supply is not enough to meet the growing demand for office space from the services sector.
 
Only a handful of offices available
Companies with more than 100 employees use on average at least 1,500 sqm of office space. The supply in this category is rapidly declining. In 2015, 172 offices with this size were available in Amsterdam. This number has now dropped to 95. This may seem sufficient, but that’s not the case. Not all of these buildings meet the requirements for new office space of today’s tenants: open, modern, well located and sustainable. The result is that a only handful of options remain.

In 2023 there’s a mandatory energy label C requirement for offices. Companies will hardly be interested moving to an office which still needs investments in sustainable features in the next five years. Taking this into account, only 23 office spaces are available.

For companies with more than 250 employees, it is even more difficult to find a suitable office space. They are looking for an area of at least 3,750 sqm. In this category, the supply has dropped from 72 offices in 2015 to 42 offices now. This scarcity is almost forcing companies to extend their rent or go and look for alternative housing outside the city such as in Amstelveen, Hoofddorp or even outside the region in Utrecht, Rotterdam or The Hague.

In addition, we are on the eve of major sustainability investments in office buildings in the Netherlands. This means that companies have to look for another accommodation during these renovations. Companies might have to move outside of the city which endangers the city’s economic potential.

Amsterdam office market

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Frank Verwoerd

Head of Research & Market Intelligence

Amsterdam

Frank has been head of research at Colliers International since 2018.  His focus is on realizing Colliers’ internal and external strategies and goals, with the mission to deliver fact based insights, innovative solutions and disruptive perspectives.With the research team we focus on the internal support of the various business lines in order to let them function as well as possible. In addition, we focus on external publications. With the pulbications we try to increase our brand awareness in the Netherlands and to be the expert on the future of real estate. 

Before Colliers International I worked at Dynamis one of the largest Dutch real estaste consultants in the Netherlands, where I worked as a research manager in a similar position to my current position. For Dynamis I work at the Economic Institute for the Construction Market where I worked as a researcher in the office and housing market. Here I did research on the effects of policy on the various real estate markets. I mainly reported to the various authorities in the Netherlands.

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