The Dutch economy is building solid momentum, outpacing the Eurozone average.

Direct investments
2016 posted a record high investment volume of € 13.5 billion. 2017 is likely to see another strong year in investment activity, with private equity exits and non-performing loan (NPL) dispositions as main opportunities to watch.

Debt market
Strong loan sales activity in 2016 is likely to have a profound effect on the lending market, as it creates a large market for distressed, or time-sensitive, refinancing opportunities.

The Dutch office market recovery is gaining momentum and the positive business sentiment results in an increase in hiring activity and a growing demand for office space.

Market conditions are likely to remain tight, with new developments providing relief for high tenant demand and strong investor interest, although risks of oversupply may emerge at the micro level.

We think that the major headwinds in terms of bankruptcies belong to the past, as retailers are adapting to structural changes in the market. Against the backdrop of continuing market recovery, investment activity is
expected to increase.

Years of underinvestment and limited development activity have paved the way for strong price increases in both the rental and the owner-occupier market.

Supply of new hotels in Amsterdam remains high relative to other European cities, but tighter planning regulations limit new development potential, which is likely to have a positive impact on operating performance going forward.

Trading activity in healthcare is expected to continue to strengthen in 2017, as transformations,
new developments and regulatory reforms are bringing new investable stock to the market.