Market in Minutes Q3 2026
The Dutch real estate market demonstrated resilience in the third quarter of 2026 against a challenging economic backdrop. Persistent inflation, a further interest rate increase by the ECB and a ten-year government bond yield of 3.7% continued to put pressure on pricing. Investors and occupiers remain active, but are becoming increasingly selective. While some segments are growing, others are seeing activity decline.
In Q3, €2.9 billion was invested in Dutch real estate, 9.0% less than a year earlier. Over the first nine months of the year, however, investment volumes reached €9.7 billion, 8.1% higher than during the same period last year. In the occupier market, take-up increased by 16.5% year-on-year to 1.55 million sq m. However, performance varied significantly between sectors, with logistics the clear outperformer.
- €2.9 billion invested in the Dutch real estate market in Q3 2026, 9.0% less than a year earlier. Over the first nine months of the year, investment volumes reached €9.7 billion, an increase of 8.1% year-on-year.
- Significant differences between sectors. Retail investment increased by 42.0% to €277.2 million, while investment in offices (−49.0%) and logistics (−32.1%) declined.
- Yields are rising. Prime yields increased to 3.65% for residential and 4.90% for logistics.
- Quality and income security are becoming increasingly important as investors scrutinise rental growth, location and the underlying performance of real estate more closely.
- Vacancy remains stable, while supply of industrial space remains tight. Vacancy in industrial space, excluding logistics, remains exceptionally low at 1.3%.
- Logistics take-up more than doubled to 767,847 sq m (+108.4%), driven in part by the return of 3PL providers and demand from technology companies. Logistics is therefore a key driver of growth in the occupier market.
- Outlook for 2026: Savills expects investment volumes of between €15.9 billion and €16.9 billion, with prime yields potentially increasing by a further 10 to 25 basis points by the end of 2026.
Download Market in Minutes Q3 2026
Read the full analysis for further insights into the Dutch investment and occupier markets and the outlook for the remainder of 2026.
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