1-6-2026
The new Dutch government says it is putting restoring international investor confidence at the heart of its strategy to solve the housing crisis. Developers say there is still more which could be done.
Bouwinvest chief executive Mark Siezen
Bouwinvest chief executive Mark Siezen says he is hopeful that the new Dutch government will do its utmost to once again attract foreign capital for residential development in the Netherlands.
"Foreign capital is crucial to meet the enormous residential development challenge we are facing," Siezen said, ahead of a special session on international investment at the Provada real estate fair. "And for that we need a stable housing policy and fiscal climate."
Siezen wants ministers to scrap corporate taxes for foreign institutional investors such as pension funds and insurance companies, pointing out that Dutch pension funds are exempt from 25% vennootschapsbelasting or corporation tax.
"The way we determine what is a pension fund is too strict," he said. "There are countries where a pension fund will pay out 10% as soon as you stop work, or allow you to give part of your pension to a relative. But these don't meet the Dutch criteria to be considered a pension fund… and so you are not exempt from corporation tax."
English-language debate
The drive to attract foreign investment has a central role at this year's Provada real estate trade fair in Amsterdam this month, and Siezen will be taking part in an English-language debate on the match between investment and housing policy.
Bouwinvest, part of the Holland Metropole alliance, has an investment portfolio totalling some €17.8 billion, of which €11.9 billion is invested in the Netherlands. The Bouwinvest Residential Fund accounts for €8.2 billion of that.
"Dutch pension fund growth is levelling off because of the ageing population," he points out. "There will soon be more pensioners than people in work. But we need to grow to expand residential capacity and that means we have to look abroad."
"The Netherlands is a great country to invest in, and that is the message I take with me when I am travelling. We have a strong, diversified economy and are not dependent on any particular sector. We are well-educated, we have a strong judiciary and we score well when it comes to the basic requirements for investment. But when it comes to investment in real estate, we don't have the best reputation. That has to change."
Provada International Investor Day
Thursday, June 11 is International Investment Day at Provada, with a mix of formal sessions aimed at international investors, and networking, backed by the housing ministry, the Holland Metropole alliance and others.
The events include the INREV panel discussion entitled 'From Europe to the Netherlands: Aligning Housing Policy and Investment', in which Siezen is taking part. Holland Metropole partner AM is also organising a session on financing area development together with ABN Amro while the housing ministry is hosting a networking session on its stand before lunch.
Development chiefs from the big five Dutch cities - Amsterdam, The Hague, Rotterdam, Utrecht and Eindhoven - are also hosting a debate on the innovations needed to drive residential development on Tuesday, the first day of the fair. The Holland Metropole alliance is hosting networking drinks on the Bouwinvest stand after the session.
A stable investment climate is key
Karin van Boetzelaer, director of housing policy at the ministry, told Vastgoedmarkt magazine last month that the government is "not closing its eyes" to the fiscal climate in the Netherlands and concerns about the "unstable and unpredictable housing strategy".
The new Dutch cabinet, she says, has made restoring investor confidence a key part of its strategy to bring back foreign investors, coupled with clear fiscal boundaries and consistency in regulatory issues. For example, the property transfer tax is being cut from 8% to 7% from January 2027 and changes have also been made to the way rent controls are implemented.
However, she said, more money is needed to build the 100,000 new homes a year pledged by the government. "This is not something the Dutch market can carry alone," she said. "What I would say to foreign investors is that the Netherlands is still a good country to invest in, particularly in the long term, when it comes to risks and returns. We have a strong economy and a transparent government."