A recent analysis by Savills Data, Intelligence & Strategy shows that a large proportion of lettings in the Dutch office market in 2023 took place in buildings with a high energy label. As many as 56.09% of leased office spaces had an Energy Label Performance Certificate (EPC) A or better.

Distribution of energy labels

According to the data, the distribution of energy labels is as follows:

Table 1: Leasing transaction in 2023 in Dutch offices with energy label A or better. Source: Savills Data, Intelligence & Strategy

This indicates a strong trend towards sustainable and energy-efficient office buildings in the Netherlands. According to the renovation standard, an office with an A+++ label is considered sustainable, in line with the climate agreement.

Other energy labels

Besides the highest energy performance, there were also rental transactions in buildings with lower energy labels, as shown in the breakdown for labels B to G:

Table 2: Leasing transaction in 2023 in Dutch offices with energy label B or worse. Source: Savills Data, Intelligence & Strategy

A closer look at all office buildings in the Netherlands reveals that 42.56% of stock currently has an energy label A or better. The difference between the amount of energy-efficient office space and rental transactions can be explained by the discrepancy in supply and demand of such highly rated buildings.

Monumental buildings

It is important to note that a large proportion of the buildings with an energy label lower than C are monumental properties. These assets often face restrictions in implementing energy-saving measures, which affects their energy label. Monuments are also excluded from the obligation that newly leased offices must have an energy label C or higher.

Wouter van 't Grunewold, Market Intelligence Analyst at Savills in the Netherlands, comments, "This analysis shows that the Dutch office market is seeing a clear shift towards energy efficiency. With more than half of lease transactions in buildings having an EPC label A or higher, sustainability is playing an increasingly important role for real estate occupiers."

Iris Kampers, ESG advisor at Savills in the Netherlands, says: "It is important to note that according to the latest forecast, EPBD IV uniform labelling is going to be introduced in Europe in 2027. This will mean that A+ will be the new maximum, which stands for net-positive. Label A will stand for energy neutral. There is currently very little energy-neutral supply of office space in the Netherlands, equating to only 0.19% of the current stock. This presents a great opportunity to (re)develop Dutch offices in order to make them more sustainable to meet demand."

Table 3: Cuurent energy labels Dutch office stock. Source: Savills Data, Intelligency & Strategy