Utrecht is often praised for its central location within the Netherlands and it is a very attractive city for young professionals. This is reflected in the rate of available space in the city with only 23% of rentable office space being available to tenants.
The city of Utrecht is home to famous brands such as SKF, Mercedes-Benz and Rabobank. These organisations, amongst others, have invested in the city’s real estate market and they attract other businesses and organisations to the area. In addition to advantageous Dutch taxation laws and a stable economy, this is the main driver behind the shortage of office space in the Utrecht area.
Property investments in Utrecht
Starting in the year 2000, the municipality of Utrecht and other stakeholders have been developing the area known as Central Station. This area is home to several famous brands such as McDonalds and Vodafone. When complete, the Central Station development will add a significant amount of rentable office space to the Utrecht real estate market and alleviate the office space shortage in the area.
As is characteristic of the other Dutch centres of commerce, it is easier to find office space for smaller enterprises than it is to find adequate space for large corporate entities. This is especially true in the city centre area where available rental space is at it’s lowest; only 9% of rentable office space is vacant and ready for occupation.
Looking beyond 2020
There are several building projects underway in the Utrecht area and more projects are planned for the future. Since Utrecht is, in general, experiencing economic growth, the additional space is needed and will stimulate the economy further. Some of the developments include office parks where space for both large and small businesses is included. That said, rental prices in the Utrecht area have been rising steadily since the early 2000s and will in all likelihood continue to increase.
In conclusion
Utrecht is the next up and coming city in the Netherlands and this makes it a great location for any business in 2020 and beyond. The office space market in the area is diverse, offering something suitable for every business.
