There is a shortage of available office space in Amsterdam for the first time since the 2008 financial crisis, according to a report by Dynamis brokers. The company noted that available office space fell by 11% in the first half of the year, the Telegraaf said on Wednesday.

Dynamis said construction of new office spaces was very low, with building permits for only 200,000 m2 at present. At the turn of the century, an average 2.5 million m2 of office space was added each year, Dynamis said.

Investors have taken note. ‘If a financial institution wants to move to Amsterdam from London it can better forget about it,’ said Huib Boissevain, director of property investment consultancy Annexum.

Rental costs are rising quickly: the price per m2 in Amsterdam is now 5% higher than 12 months ago, while in Utrecht rentals are 10% higher.