Property transactions fall 50% due to crisis

The number of commercial property transactions currently taking place in the Netherlands has halved due to the economic crisis, according to research by PropertyNL.

Tenants are delaying plans to move or renovate their offices, PropertyNL says. And at the same time, falling property prices mean banks are extremely reluctant to get involved and hardly any new projects are being realised.
But at the same time, competition between the Dutch regions for scarce financial resources is intensifying, PropertyNL said. And Amsterdam as an international corporate location is facing growing competition from other countries.
Project developers have urged the government to do more to stimulate the property sector and take more of a leading role in development projects, the Financieele Dagblad reports.
An estimated 10,000 jobs in the construction sector are set to go because of the recession.

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