"Dutch office market is unhealthy"
The Dutch market for offices is "particularly unhealthy," say developers and building contractors.
7 January 2008
THE HAGUE – The Dutch market for offices is "particularly unhealthy." Many offices are currently standing vacant, and the percentage of vacancy is expected to increase further. The Association of Developers and Building Contractors (NVB) said this in an annual report on Monday.
The NVB says the 6.4 million square metres of office space standing empty is in stark contrast to the 1.4 million square metres for which building permits were granted last year.
The sector organisation is expecting that the demand will drop even further by the time the new offices are ready because of a weakening economy.
The NVB thinks that municipalities, developers and investors are not anticipating economic waves adequately and advises caution in plans for new construction.
The sector organisation is also urging municipalities to draw up an "integrated office vision" with attention to all areas: new build, demolition, renovation and rezoning.
[Copyright Expatica News + ANP 2008]
Subject: Dutch news