Savills Netherlands
Offices on Track for the Future
summer 2025
The Growing Relevance of Public Transportation for Office Locations
The Accessibility Trend
76%
Women’s needs
Unlocking value
male dominance in real estate shapes biased urban design
are overlooked due to underrepresentation in data
by bridging the gender gap in real estate
All Change
Introduction
Conclusion
The Dutch Market
G5 in Focus
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01
Our future food system
The future is here today
All Aboard Demand
There is a growing demand from occupiers for offices near railway stations and major transport hubs.
02
Next Stop: Clients
Occupiers prefer offices near their customers, influenced by factors such as access to skilled labour, traffic, and convenience.
03
The Commuter Effect
Take-up has been higher in station locations compared to non-station locations. An office located 5km from a station, for example, might expect a lower average take-up of 700 sqm.
05
Running Out of Track
We expect stricter environmental regulations to further contribute to a shortage of top-quality buildings in the most sought-after locations in the G5 office markets, Amsterdam, Eindhoven, The Hague, Rotterdam and Utrecht.
06
Trainspotting for Investors
We expect proximity to major transport hubs, such as train stations, will increasingly influence businesses’ location choices and ultimately affect investor demand.
04
Premium Platforms
These locations attract higher rents than properties in other areas. Offices near train stations command average rent premiums of 30% compared to similar properties in other locations.
Tien Nguyen
Market Intelligence Analyst
Offices near stations command an average rent premium of nearly 30%. And in Utrecht, it’s as high as 54%.
Why we’re looking at offices near stations
In recent years, the office sector has also faced particularly stringent regulations in EU markets, such as the Netherlands, aimed at reducing carbon emissions. Therefore, high-quality properties with good accessibility by (public) transport and strong environmental credentials are in high demand. In 2023, as much as 16% of total vacancies were concentrated in just 1% of office buildings in the Netherlands. A noticeable divide is emerging between high- and low-performing assets, driving higher prime rents. This ongoing polarisation is also evident in the performance disparity between offices close to stations and non-station office locations. As demand for the former rises, we anticipate a nationwide shortage of these buildings.
Switching Tracks
Occupiers increasingly want easily accessible office buildings, a trend that has accelerated since the COVID-19 pandemic. Remote work has led to a variety of hybrid working patterns. Major demographic shifts linked to urbanisation have prompted businesses to concentrate on larger markets that attract younger, highly educated workers, benefiting city office markets such as Amsterdam, Eindhoven, The Hague, Rotterdam, and Utrecht, collectively known as the G5 markets. Consequently, companies are prioritising office spaces that are easily accessible for a generation of workers seeking easy commutes to well-located and amenity-rich workplaces.
One track mind
BAck to the top
SUMMER 2025
Ticket to Talent
Accessibility is becoming increasingly important
How Commuting is Back on the Agenda
Commuting patterns are evolving, but car travel is the predominant mode of transportation to work in the Netherlands. Sixty-six per cent of journeys to work are made by private vehicle, 13% by train, and 3% by other forms of public transport. Generally, although public transport usage across the country has increased since the COVID-19 pandemic, according to Translink data, it remains significantly below pre-pandemic levels.
Source: NS (2025), adapted by Savills Data, Intelligence & Strategy (2025)
The aftereffects of COVID-19 undoubtedly continue to influence travel behaviour. Commuting grew by 13% in 2023 and appeared to rise again in 2024. Meanwhile, commuters have increasingly prioritised the ease of travel to work as they adapt to changing work patterns following the COVID-19 pandemic. For public transport, a good connection, proximity to a station, and employer compensation are decisive factors.
We believe attracting and retaining top talent in a “talent war" will remain a vital theme for office tenants. We increasingly see employers competing to attract talented young workers, and accessible offices will be part of the package. Research conducted by Savills World Research for the latest IMPACTS publication confirms that appealing workplaces are essential for attracting talent. The workplace has become increasingly important for employees, assuming significance alongside pay, management, and compatibility with coworkers. Location is an increasingly important factor, particularly for younger workers who rely on public transport. Ease of commute is a primary consideration and has become more critical since the onset of hybrid working.
Why Younger Workers Take the Train
Ellen Waals
Head of Occupier Services
Younger workers are 2 to 3 times more likely to commute by train. It’s no surprise that employers are noticing this
Younger Workers Travel Differently
Demand rides the rails: Train travel usage by station, Major G5 stations
There are considerable variations across the Dutch market, particularly in the G5 cities. The number of train travellers to the key train hubs in the G5 has been variable.
Raw travel figures suggest that commuting by train and public transport is gradually increasing. Moreover, data on transport usage in the Netherlands show that younger workers under 35 disproportionately use public transport for their journeys to work (source: CBS ). As employers increasingly target their efforts in the war for talent to attract younger workers, accessibility is becoming essential for office locations.
Capital on the Rails
The G5’s Increasing Relevance for Office Tenants
The office market is predominantly situated in the G5, which comprises over 30% of the country's overall office stock. The office stock in the Netherlands is approximately 50 million sq m, distributed among nearly 10,000 properties. A considerable share (95.7%) of these buildings are over ten years old. After the financial crisis, the growth rate for office stock has slowed, contributing significantly to a national vacancy rate of 7.9% and 7.1% in the G5 cities.
Take-up in sq m G5 vs non-G5 in the office sector
We have observed another significant trend influencing tenant demand, alongside the increasing awareness of the importance of office accessibility. The case for sustainable offices is becoming stronger as changing regulatory requirements influence user demand.
Sustainability Drives Premium Demand
The new proposed EU Omnibus Regulation simplifies and streamlines some of the EU's most complex sustainability rules, like the CSRD. It will now only directly affect larger corporates. However, smaller companies in the supply chains of businesses covered by the revised regulation will be indirectly affected. The new regulation provides investors, regulators, and stakeholders with breathing room to assess sustainability risks and opportunities. It will also add new compliance and reporting requirements.
Take-up has fluctuated in the rest of the country, while the G5 has increased its share of national leasing since 2022. Nonetheless, a downward trend in take-up volume in the G5 that began before COVID-19 reversed in 2024, with the share of take-up in the G5 accounting for almost 50% of the total take-up in the Netherlands. Vacancy rates have remained relatively stable around the 6% level in G5 markets.
in the Netherlands happened in the G5 in 2024
Almost 50% of total office take-up
The Energy Performance of Buildings Directive supports the EU’s energy and climate goals, as buildings are Europe's largest energy consumers.
The revised directive, which took effect on 28 May 2024, also influences office occupier trends. It aims to increase the EU renovation rate, particularly for poorly performing buildings. In the Netherlands, offices must meet criteria by 2026, and all new builds should be emissions-free by 2030 . Consequently, we expect the demand for energy-efficient and accessible buildings to become a more prominent feature of the office market.
Iris Kampers
Director ESg, Operations
Accessibility is a sustainability metric. Every train ride is a CO₂-saving decision.
On the Green Track
Next Stop
Prime Property
Mapping the station hubs
We have defined station locations in this report as markets located within 750 meters or a 10-minute walking distance from a railway station. The analysis focuses on the fastest-growing markets in the Netherlands, its five largest cities: Amsterdam, Rotterdam, The Hague, Utrecht, and Eindhoven.
Source: Savills Data, Intelligence & Strategy (2025).
Station areas in the Rotterdam market
Typically, station area office buildings are newer than those outside these zones. The average age of buildings in non-station areas is about 82 years, whereas in station areas, it is approximately 51 years.
Station Locations Have Newer Properties
This indicates that station areas have relatively newer structures than those further away. Moreover, the average building age in station hubs rises more slowly than in non-station areas, implying that new construction is added more frequently, keeping the average age lower than in non-station areas. The average office age has increased from 46 years in 2016 to 51 years in 2025 in station areas, while in non-station areas, it has risen from 73 to 82 years. Redevelopment also influences property quality. There have been 285.961 sqm of redevelopments at station sites and 496.496 sqm at non-station sites since 2014.
There is a growing number of sustainable, future-ready buildings in station areas. Currently, 24% of A++++ buildings are located in station hubs, up from 12% in 2016. Similarly, 47% of buildings rated ‘Outstanding' by BREEAM, the highest certification level, are located near stations, a significant increase from just 20% in 2016.
are now near stations — up from 20% in 2016
47% of ‘Outstanding’ buildings
Since 2016, the number of BREEAM ‘Outstanding’ buildings near stations has more than doubled. The future is being built on the platform.
Proportion of BREEAM “Outstanding” buildings by location
The combination of accessibility, amenities, and a high-quality working environment makes these locations increasingly popular. This trend is reflected in higher rents, a stable take-up rate, and an above-average number of redevelopment projects.
Station locations
accessibility, amenities, and quality environments
Despite this limited supply, take-up in station areas continues to rise, indicating a structural and growing demand for easily accessible offices. This shortage of available office space complicates new construction in these locations, prompting the market to focus on using existing properties more efficiently and making them more sustainable.
Index office take-up 2024 (2015 = 100)
Vacancy rates have generally been lower for stations, and despite a convergence in 2023, the gap has widened again over the last 12 months.
Vacancy in the station and non-station G5 markets
Office vacancy is consistently lower near stations. Even in times of market stress, well-connected buildings perform better.
Rent difference in station areas (compared to non-station area)
Rental Price Development (<750m from NS Station)
In the Netherlands, occupiers are willing to pay a premium for offices near train stations. In 2024, there was a 29.5% difference in rents between station locations, averaging €206, compared to €159 for non-station locations. This gap has been widening, as shown by the individual markets of the G5 since 2022. In Amsterdam, this difference was as high as 39% (€407 compared to €293), while in Utrecht, it was 54% (€258 compared to €167).
Office investment volumes have not recovered to pre-pandemic levels despite a partial uptick in 2021. Since 2022, deal flow has fallen across all sectors as interest rate increases have suppressed investor appetite for real estate. Nonetheless, there has been a noticeable difference in investor demand for offices in station and non-station locations. Although overall transaction amounts remain well below pre-2020 levels and the number of deals has been similar, the growth in investment volumes in station locations has been significantly higher than in non-station locations, suggesting that investors are increasingly investing in office buildings in station areas, rather than in non-station areas.
Investor Demand for Station Locations
€3,000per sq m
average investor price in station hubs (2024)
investors pay more for rail-connected offices
+20% price premium
station hubs show stronger investment rebound since 2022
Faster Recovery
Additionally, investors purchasing office properties appear to be willing to pay higher prices for buildings near major rail hubs. Furthermore, in 2024, investors paid an average of approximately €3,000 per sq m in station hubs, compared to €2,500 per sq m elsewhere.
Reinier Wegman
Head of Office Investment
In a low liquidity market, station locations remain the most investable core segment.
Investment volumes in station and non-station locations: 2015 to 2024 (indexed, 2015 = 100)
Average price per sq. metre of office transactions in station and non-station locations, Euros (G5)
The G5 Markets
Interestingly, the gap between the performance of station and non-station locations is evident when analysing individual city markets. The uptake in the Amsterdam market is distinctly differentiated between the two market segments, as are the differences in average rents.
Explore G5 Market Insights
Utrecht
Take-up (index = 2015)
Average rent
Vacancy
The Hague
Rotterdam
Eindhoven
Amsterdam
Just the ticket
Quantifying how distance affects demand
Irene van Esseveld
Head of Office Leasing
The best viewings start with how you get there, rather than the building.
Buildings Closer to Rail Stations Outperform
The location of a building in a station area has a significant positive impact on rents. Likewise, rents declined the further buildings were from train stations. Rent levels decrease with the distance from a station. For example, offices located 5 km from a central rail hub have rents that are €71 per sq m lower. Furthermore, a strong relationship existed between the number of commuters in a train station location and a building’s rent levels. There was insufficient evidence to demonstrate that a building’s location in a station area had a positive impact on take-up. However, a significant relationship existed between take-up and the distance from a railway station.
There was also a decline in rent levels and take-up the further an office was from tram and metro stops. Although significant, the adverse effect on rents was less pronounced than when a building is further away from a train station. The distance from a highway did not have a significant impact on rents, but we found a relationship between take-up levels and vacancy rates. Take-up levels fell, while vacancy increased with an office’s distance to a highway.
The Effect of Other Forms of Transport on Building Performance
The previous sections established that closeness to railway stations affects the performance of office properties. In this section, we examined this further to determine statistical significance. We also took the opportunity to evaluate property performance using GIS based on proximity to other forms of public transportation and highways. Furthermore, we explored the relationship between railway commuters at specific stations and property performance. The office leasing market was significantly impacted by whether a building was near a station and its proximity to other transportation modes. However, the decrease in transactions in recent years has made it impractical to establish any significant patterns in the investment market. This was despite the visible pricing differentials in the limited number of deals available.
Summer 2025
Savills Data, Intelligence & Strategy Our independent Data, Intelligence & Strategy team solves all of your real estate issues. We work together with developers, investors, municipalities and occupiers and offer them high-quality, highly detailed customized analyses without losing sight of the strategic question. Our advice is based on a solid combination of reliable data and in-depth market knowledge of the various market segments within the real estate market. In our analyses we focus on factors that influence the supply and demand of real estate. The product we deliver always depends on your wishes. We offer a wide variety; from a smart one-pager, an extensive research report to a tailor-made dashboard. Our product will support you in making well-founded property decisions.
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Analyst
Contact
+31 6 21 45 05 35 ellen.waals@savills.nl
+31 6 11403965 irene.vanesseveld@savills.nl
Charlotte de Mos
Head of Data, Intelligence & Strategy
The data leaves no doubt: transport accessibility is not a nice-to-have — it's a key performance indicator
Train of thought
Offices need strong transport links to remain relevant
Station areas command a Market Premium
Corporate occupiers find offices near train stations in key G5 urban hubs increasingly appealing. These locations offer modern, sustainable buildings and substantially higher rental prices. For example, properties near train stations typically achieve a rent premium averaging up to 29.5%, with cities such as Amsterdam and Utrecht exhibiting even greater differences. This premium is fuelled by robust investor demand, despite a comparatively limited supply in areas near the stations versus non-station sites.
Furthermore, public authorities making decisions about future business space developments should recognise businesses' desire to locate in areas attractive to employees.
Investors and employers prioritise sustainability in response to evolving regulations, such as the Omnibus Regulation and the EPBD. It also highlights the increasing importance of attractive work environments. This includes pushing for energy-efficient and future-ready office buildings to meet upcoming legal requirements (e.g., offices must meet specific emission criteria by 2026, and all new builds should be emissions-free by 2030). Moreover, as the "talent war" escalates, we anticipate more companies will seek accessible, high-quality, and sustainable office spaces. This will lower vacancy rates and help attract and retain younger talent. We expect accessibility, sustainability and amenity to become crucial competitive factors for attracting talent and investment, rather than merely being seen as value-adds.
Sustainability and Workplace Quality Are Reshaping Leasing and Will Impact Investment Strategies
We believe that the ease of commuting to work is becoming a factor in office location. Furthermore, as the return to the office becomes a more significant aspect of the work week, commuting ease will grow in importance. Younger workers, in particular, prioritise accessible and well-amenitised office environments. They often favour locations well-served by public transport over a traditional reliance on private vehicles. This shift will influence how employers choose office sites to attract talent, making the proximity to train stations and high-quality public transport a decisive factor.
Accessibility is an increasingly critical competitive advantage
We expect corporate office tenants will pay a premium for locations near transport hubs, such as railway stations. However, the scant evidence from the investment market suggests it's premature to conclude that investors share the same willingness to pay extra for accessible sites. Still, we anticipate that in the future, investors will show greater interest in offices with excellent transport connections, particularly those situated close to stations.
+31 6 21 45 05 35 r.wegman@savills.nl
+31 6 11403965 martijn.onderstal@savills.nl
Martijn Onderstal
Head of Valuation
+31 6 11403965 c.demos@savills.nl
Head of Marketing & Business Intelligence
