The recovering Netherlands real estate market saw activity nearly double as investors were drawn back to the market in the second quarter of 2009. A €400 million increase in Q2 adds up to positive outlook for the remaining half of the year, according to a study by international property consultants CB Richard Ellis. Learn more in the following article from Property Wire.
Investment activity in the Dutch real estate market almost doubled in the second quarter of 2009 compared to the previous quarter, according to a new report.
Investment turnover surged in Q2 as €861 million was transacted in The Netherlands out of a total of €1.3 billion for the first half of 2009, the study from international property consultants CB Richard Ellis, shows.
The increased investment activity demonstrates a renewed confidence in the Dutch market despite a relatively quiet period for Europe’s real estate investment market generally,with only €25 billion transacted across the region as a whole in the first half of the year.
With a number of international investors increasingly taking the view that the major Dutch markets have repriced sufficiently to be of interest, the outlook for the Dutch market is positive for the remainder of 2009, the report concludes.
Private investors and property companies accounted for the majority of activity in the first half of 2009 and investors such as the German Funds, both open and closed, are expected to be more active during the second half of the year.
‘There has been strong investor interest in prime assets, with a wide variety of investors looking to acquire in the Dutch market. The correction in pricing has been sufficient to start attracting international money too.
This is particularly evident among the German Open ended Funds which have been active bidders on several prime assets in the last few months and are expected to be active buyers here later in the year,’ explained Marco Hekman, Executive Managing Director of CBRE’s Dutch business.
‘What is even more reassuring is that revival in investor interest is spread across all property types, and not simply concentrated on the office market. CBRE teams in The Netherlands recently advised Allianz on the sale of a Dutch mixed-used residential and retail development in Apeldoorn.
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