Investors and banks should be prepared to write €7bn off their investments in the Dutch office property sector in order to restore it to financial health, according to a working party made up of developers, investors, banks and local government officials.

The group is trying to find solutions for the low office property occupancy rates. Some 15% of offices in the Netherlands are currently empty.
Group chairman Hans de Jonge said the write-offs should be undertaken in a controlled way but that without action, there could be serious consequences for society.
Earlier this year, the central bank warned the property crisis could have a serious effect on the financial system.