Market update second quarter 2026

Geopolitical uncertainty remained a defining feature of the second quarter of 2026. Although the Dutch economy slowed and inflation temporarily accelerated, most real asset sectors continued to benefit from resilient market fundamentals and a gradual recovery in investment activity.

Sector developments: 

• Retail: declining vacancy rates and sustained demand for prime locations continue to support the sector’s recovery.
• Residential: structural supply shortages keep rental growth well above its long-term average.
• Offices: market polarisation continues, with occupier and investor demand increasingly concentrated in high-quality, sustainable locations.
• Science parks: growing public and private support for deep tech and strategic technologies reinforces long-term growth prospects.
• Farmland: scarcity continues to support values, while location-specific nitrogen policies are increasing differentiation across regions.
• Renewables: grid infrastructure, flexibility and energy storage are becoming increasingly important in the next phase of the energy transition.