Dutch Commercial Property Investment Rises 15% in 2025
Investment volume reaches €13 billion
Total investment volume in Dutch commercial real estate reached €13 billion in 2025, marking a 15% year-on-year increase, according to the Real Estate Market Outlook Report 2026 by CBRE Netherlands. The company forms part of CBRE Group, the publicly listed world’s largest commercial real estate advisory firm based on 2024 revenue.
The recovery was largely driven by domestic capital allocations into residential, office and logistics assets, while foreign institutional investors remained largely absent from the market.
Domestic capital dominates amid regulatory headwinds
The rebound in transaction activity was almost entirely supported by Dutch investors. International capital stayed cautious due to regulatory and tax changes, including higher transfer taxes, the abolishment of the FII regime, and continued policy uncertainty, particularly in the housing sector.
Market participants identify regulatory risk as the primary factor limiting cross-border investment flows into the Netherlands.
Residential sector leads investment growth
Residential real estate was the main growth engine in 2025. The increase in volume was primarily driven by the sale of rental housing portfolios followed by individual unit disposals. The average price gap between bulk acquisitions and individual sales reached 56%.
Residential complexes were acquired at an average of €3,165 per sq m in 2024 and 2025, while individual units were sold at approximately €4,925 per sq m.
According to Erik Langens, Managing Director of CBRE Netherlands, the sale of rental homes, particularly in student cities, is putting pressure on supply. Affordable housing in these areas is essential for talent development and the country’s knowledge-based economy. At the same time, pension funds are showing increasing interest in student housing, which the European Union classifies as social infrastructure, offering a combination of long-term returns and measurable social impact.
Logistics market stabilises in the second half
Investment volume in logistics totalled €2.9 billion, roughly 11% lower than in 2024. However, transaction activity picked up visibly in the second half of 2025, signalling cautious stabilisation.
Investors focused on modern distribution centres in strategic locations suitable for automation and operational efficiency. The segment continues to benefit from structurally strong occupier demand.
Office sector records double-digit growth
The office market posted investment volume of €2.1 billion, representing an increase of more than 19% compared to the previous year. The recovery is driven by occupier demand for well-connected and sustainable office buildings.
Limited supply, combined with slower new construction and renovation activity, is pushing rental prices upward, supporting investor appetite for high-quality assets.
Outlook for 2026: liquidity returns
CBRE forecasts a further increase in total investment volume of around 10.5% in 2026. Capital is expected to shift towards operational real estate segments with stable occupier demand and rental growth potential, such as student housing and senior living.
Langens noted that the investment market is showing dynamics similar to the pre-COVID period, with liquidity returning and transaction momentum strengthening despite geopolitical uncertainties. The key challenge remains the continued absence of international capital. Maintaining the Netherlands’ attractiveness to global investors is essential to support sustainability and renewal across the built environment.
As International Investment experts report, the 2025 figures suggest a structural adjustment phase in the Dutch commercial real estate market, where domestic capital temporarily offsets foreign retreat, but long-term stability will depend on regulatory clarity and the return of cross-border investment flows.