The Dutch real estate market saw a strong recovery in investment activity in 2025. According to Savills, total investment volumes reached €14.5 billion, up 19.1% compared with 2024. A strong year-end surge, driven by the return of institutional investors, provided additional momentum heading into 2026.
Notably, the investment market is recovering significantly faster than occupier markets - a departure from the traditional sequence in which investors typically return only once occupier demand begins to strengthen. This shift reflects a broader move towards a more capital-driven market environment.
Pricing and yields have stabilised, while financing conditions have become more predictable. This creates scope for investors to make strategic investments earlier in the cycle, even before the recovery in occupier demand becomes visible in leasing activity and take-up levels.
Clive Pritchard, Head of Country at Savills Netherlands, comments: “The year-end surge in 2025 demonstrates that capital is returning. With more stable financing conditions and improved price alignment, the recovery is gaining momentum. The investment market is ahead of occupier markets, setting the tone for a steady and sustained improvement in 2026.”
Savills notes that there was a clear shift in deal structure in 2025. While more smaller transactions were completed than in the previous year, large institutional acquisitions also returned to the market. The share of transactions above €50 million increased to 49.4% of the total volumes, a sign that larger deals have returned and renewed investor confidence in the market.
Amongst occupiers, macro-economic and geopolitical uncertainties led to defensive and highly selective decision-making, reflected in lower take-up levels.
At the same time, median rents across most sectors increased by approximately 2% to 7% (depending on the segment), indicating ongoing market pressure despite subdued transactional dynamics.
Wouter van ’t Grunewold, Market Intelligence Analyst at Savills, adds: “The strong year-end recovery in investment volumes shows that capital is already positioning for the next market cycle. Investors are moving forwards on the back of stable pricing and predictable financing conditions, while the occupier market remains in a wait-and-see mode. This early momentum provides a solid foundation for further growth in 2026.”
Savills expects the Dutch real estate market to strengthen further in 2026, with total investment volumes projected to exceed €16.5 billion, supported by stabilising market fundamentals and renewed institutional allocation appetite.
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