The recent train strikes have highlighted how dependent the Netherlands is on a well-functioning public transport system. This very dependency underlines the structural value of easily accessible office locations. A recent analysis by Savills confirms that station areas exert strong appeal to office users and investors. The combination of accessibility, amenities, and a high-quality working environment makes these locations increasingly popular. This is reflected in higher rents, stable take-up levels, and an above-average number of redevelopment projects.

The analysis shows that in 2024, a total of 334,563 sq m of office space was taken up in station areas in the Netherlands, accounting for 27.1% of total take-up. This marks an increase from 23.2% in 2019 and 22.9% in 2016. While absolute take-up in non-station areas remains higher, the growing share of station areas in total take-up highlights a clear shift toward accessible office locations. It underscores the role of public transport as a key factor in corporate location decisions.

Limited supply and market development in station areas

The total office stock in station areas amounts to 11,168,595 sq m—significantly lower than the 38,290,581 sq m in non-station areas. Despite this limited supply, take-up in station areas continues to grow, indicating a structural and rising demand for well-connected offices. This shortage makes new developments in these locations more complex, shifting the market’s focus towards efficient use and sustainable upgrades of existing buildings. Redevelopment plays a role, though with 24,888 sq m in 2024, it remains relatively modest. This confirms that scarcity and the retention of value in existing assets are the primary drivers of the station office market.

The rising demand and limited availability of office space near stations translates into a clear rental premium. In 2024, the average rent in station areas was €206 per sq m per year, compared to €159 per sq m in non-station areas—a difference of 29.5%. In Amsterdam, this premium reached 39% (€407 versus €293), and in Utrecht, 54% (€258 versus €167).

Tien Nguyen, Market Intelligence Analyst at Savills Netherlands, says: “Rental growth underscores users’ structural preference for locations with excellent public transport connections and quality amenities.”

Irene van Esseveld, Head of Office Leasing at Savills Netherlands: “Most leasing activity is concentrated around stations. It’s clear that location is no longer just about the building and its surroundings - it’s primarily about how you get there.”

Ellen Waals, Head of Occupier Services at Savills Netherlands, adds: “A good example is Innovative Beauty Group B.V., whom we recently advised on leasing approximately 2,053 sq m of office space on the ground floor of ONE20, located at Teleportboulevard 120–142 in Amsterdam. By doing so, they consolidated their two offices in Naarden and Hoorn nto one central and well-connected station location.”

Given an ongoing focus on sustainable mobility and urban densification, Savills expects the popularity of station areas as office hubs to continue to rise. Developers and investors who anticipate this trend can benefit from resilient demand and potentially higher returns.

Charlotte de Mos, Head of Data, Intelligence & Strategy at Savills Netherlands, says: “We are dependent on a well-functioning public transport system. That dependency is not a weakness, but rather proof that accessibility is a fundamental value in the office market.”

Read the full report here.