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Office vacancy rate hits 16%

Wednesday 20 February 2013

Some 16% of the Netherlands' office properties are vacant, an increase of 1.5 percentage points on a year ago, according to real estate association NVM.

The rise in vacancy rates has never been so high, the NVM said on Wednesday. In total, some 7.8 million square metres of office space is currently empty.

'The situation has never been so serious,' a spokesman told Nos television. Some 43% of the vacant properties have been empty for at least three years, compared with 36% a year ago.

In order to reduce the amount of surplus office space, many complexes are being demolished, particularly in Amsterdam, Diemen, Eindhoven, Heerlen and Rotterdam, the NVM said.

This has kept the increase in vacancy rates from rising further, the spokesman said. Last year, some 400,000 square metres of office space were demolished.

© DutchNews.nl


Readers' Comments

'The rise in vacancy rates has never been so high' ......sinking, sinking, sinking

By S | 20 February 2013 4:16 PM

Offer office discounts to current and potential expats wanting to start a business in the Netherlands. You will have a renewed interest by foreigners evaluating where to start a business in Europe and will undoubtedly lead to new residents as consumers and tax payers.

By roland | 20 February 2013 4:50 PM

7.8 million square meters of office space is currently empty, WOW!

'Make some of those wasted sq. meters into temp accommodation for those that live in cardboard boxes on the street: imagine that, & with air-conditioning, nice!

Change the laws if you have to, but please stop moaning about wasted space, 'go EARN some money, cheers!:)

By The visitor | 20 February 2013 7:26 PM

then rezone the space and rent it for housing, especially in Amsterdam where there is a chronic shortage

By outsidethebox | 20 February 2013 8:43 PM

@The vistor: there is virtually no homelessness in the Netherlands due to lack of housing options. Almost any people sleeping on streets are doing so because they refuse any help, are drug addicts or have mental problems they don't want to treat.

@outsidethebox: conversion from office to housing is usually difficult. Office buildings often can't bear the extra loads required by placement of internal divisions. It is also needed to install residential plumbing and other facilities. It is expensive. Moreover, most buildings being demolished are old ones, that are going to be replaced by new structures with modern architecture.

By A.L. | 22 February 2013 12:02 PM

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