Leasing Momentum Meets Operational Resilience — Where Capital, Occupiers and Retrofit Economics Collide in 2026 To Be Held In Amsterdam

After three years of caution, the Dutch office market is showing the first credible signs of a comeback but the recovery is sharply polarised. Vacancy has fallen to a 25-year low of 7.9%, Rotterdam recorded the strongest prime office rental growth in Europe at +28% year-on-year in 2025, and large institutional occupiers like PGGM and Volksbank are committing to long-dated leases in sustainable, station-adjacent buildings. Yet the development pipeline is effectively frozen by nitrogen rules, construction inflation and permitting delays, German open-ended funds are still selling, and capital values remain 35–50% below their peak.