Because of the impact of coronavirus, expectations for investment volumes in the real estate market have been adjusted. On a positive note, the downturn remains relatively limited, thanks to the strong foundations in most sectors and the confidence of foreign investors. Interested in reading about the current market situation and expectations for the next six months?

Confidence of foreign investors

During the credit crisis, foreign investors withdrew, leaving only the Dutch players. The proportion of capital from abroad fell from 45% in 2007 to just 29% in 2008. This kind of withdrawal has not happened this time. In the first half of 2020, the share of foreign capital remained virtually unchanged, indicating that international players continue to have confidence in the Dutch real estate market.

Logistics and residential continue to perform well

The logistical sector is surviving the crisis relatively successfully. The vast majority of logistical operations are continuing as normal and the vacancy rate remains low. Together with the residential sector, this sector has been the least damaged by the corona crisis. This is in contrast to the hotel sector and retail market, which have been hit the hardest.

Better spread of investment volume across sectors

The increased spread of investments across the different sectors has made the real estate investment market more stable. In 2007, 68% of investments were in offices. In 2020, that figure was just 18%. Other sectors, such as residential, healthcare real estate, and industrial and logistical real estate have seen increased interest from investors in recent years.


Companies are adopting a wait-and-see attitude with regard to their offices and the volume of office lets fell in the last six months. However, the vacancy rate in the major cities remains below 10%.


Confidence in the residential market is holding up, as investors see this sector as a safe and reliable investment. But 2020 is not set to be a record year, because there will not be any major portfolio transactions.


The hotel market has been the hardest hit real estate sector because of a loss in turnover and the lack of business guests. As a result of this, this market is set to become a specialist market once more.


The logistics sector is performing relatively well, although there are some variations and both relocations and speculative developments have been postponed. Rents are remaining stable.


Retail real estate is experiencing increasing polarisation. Less attractive locations are seeing significant drops in value, while convenience-driven retail continues to perform well.

Healthcare real estate

Demand remains high for healthcare real estate because of the ageing population and shortage of locations. However, many real estate decisions have been postponed in recent times, resulting in a lower investment volume.
Want to keep up to date on the latest developments in real estate? Read our midyear update.