Office surplus needs urgent action, say developers

Some seven million m2 of offices are currently lying empty in the Netherlands, equivalent to 14% of the total, according to property developer association NVB.

If no action is taken, the total will rise to 10 million m2, the organisation said. It is urging everyone involved to take action to reduce the glut.
For example, every year 1.5 million m2 should be either rebuilt or demolished, director Nico Rietdijk told news agency ANP.
But fines or a temporary building stop are not the answer, the NVB said. ‘New construction is necessary to keep the sector young,’ Rietdijk said.
Earlier in January, real estate group Zadelhoff also warned that too much office space was empty and called on the government to intervene.
Amsterdam city council has already said it will take steps to reduce surplus offices by fining owners who fail to register their property as empty for more than a year, and converting suitable buildings into housing.

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