Vacancy rates on the office market in the Netherlands will not be hit too hard by the trend towards home working, according to research by real estate advisory group Colliers.
Colliers suggest workers will be home based for one day a week and are most likely to pick Wednesdays and Fridays as days not to come into the office. If this is the case, the impact on the amount of office space a company needs will be limited and the vacancy rate will rise from 8.5% now to 11%.
If, however, companies decide when people should work at home and when in the office, the spread will be greater and the impact will be more severe. This means the vacancy rate will almost double to 16% by 2024, Collier says.
Nevertheless, the short term impact will be limited. ‘Just one in 10 employers are currently in talks about office rental contracts which are due to expire,’ said office sector chief Dré van Leeuwen. ‘Companies will only draw up a new strategy for their accommodation when everyone has been vaccinated and staff are welcome at the office again.’
The big five city centres and locations such as Amsterdam’s Zuidas business district are unlikely to be affected, Van Leeuwen said. But some areas, such as Goudse Poort in Gouda and Brainpark Rotterdam will suffer, with vacancy rates rising up to 20%, he said.
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