Retail 2023

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Spotlight Tech sector - The Netherlands 2023 Q1

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Contacts & Related Research

The latest insights in the Dutch Tech sector and its influence on the real estate market

Real estate advisor Savills’ new market intelligence report ‘Wins & Losses in the Tech Sector’ concludes that the recent moderation of the Dutch tech sector’s growth will not lead to office market disruption. The report explores current trends in the Dutch technology sector, including the declining availability of Venture Capital (VC) and the ramifications for the office market of the country’s largest five cities (G5).

Key findings

  1. Despite the current downturn in investment activity, the Dutch technology sector is robust. The inflationary- and interest rate shocks of the past 12 months have restored activity to long term trend levels, after a period of tremendous growth.

  2. Take up in the technology sector in the G5 fluctuated between 15% and 20% of all office take-up in recent years. Tech-City Amsterdam was responsible for 80% of office take-up in the tech sector of all G5 cities between 2018 and 2022.

  3. Savills expects clear ‘Winners’ and ‘Losers’ in the tech sector, but the impact on (prime) real estate demand will be minimal. Tech firms tend to lease sought after prime, Grade A, sustainable office buildings which are also in high demand by non-tech firms.

Savills does not foresee any immediate problems for property owners due to declining take-up by tech firms. A large proportion of tech companies is leasing prime, grade A, properties in the core office districts where supply and demand ratios are extremely tight.

Ellen Waals, Head of Agency