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Dutch office investment rises as Europe sees more CBD conversions
In the Netherlands, office investment volume climbed 66% in H1 2026 to €985M, while MSCI data shows 17% of CBD office sales were earmarked for renovation or redevelopment.
Europe is seeing a surge in turning offices into other uses, with MSCI Real Capital Analytics finding that 17% of all office sales in central business districts in H1 2026 were designated for renovation or redevelopment, above both 2024’s share and the 13% long-term average.
Residential and hotel uses are the leading conversion outcomes, accounting for more than 70% of registered office conversions from 2022 through the end of H1 2026, as investors respond to changing tenant needs amid a broader slowdown in European deal volumes.
Dutch office markets are bucking that trend. According to CBRE, office investment volume in the Netherlands increased by 66% in H1 2026 to €985M, and private investors are playing a larger role as demand for offices in prime locations rises again.
However, converting offices is becoming harder to justify in the Netherlands, the Economic Institute for Construction said. The group warned a cabinet policy aimed at easing the housing shortage through conversions is not effective enough, estimating that after peaks in 2018 and 2019, 2025 conversions will land around 6,500 homes, down from earlier levels.