Arnout Scholten joined a roundtable discussion at PropertyEU's office in Utrecht last week. With him were four other experts from Savills Netherlands, Angelo Gordon, Edge and Panattoni. They discussed how COVID-19 affects occupiers, as well as a wide range of topics regarding the chaotic state of the Dutch real estate market.
Arnout explained how hotels in particular are suffering from the pandemic and that CMS is involved in 'a lot of litigation regarding rent reductions, especially relating hotels in the Amsterdam area'. An example of this would be the case of the W Hotel in Amsterdam.
Incoming deal rush
Looking at the government's plans to raise real estate transfer taxes next year, Arnout Scholten predicts a deal rush before the end of the year. 'It will affect the timing of deals. I think notaries will be very busy this year,' he said.
PropertyEU published an overview of the discussion on their website, and will release a full report in the October issue of their magazine.