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Dutch transfer tax increase brings out buyers: Savills

Plans to increase transfer tax in the Netherlands have focused attention on property sales as the sale of the so-called Columbus Portfolio recently demonstrated.

Real estate investor Daelmans Vastgoed has bought the residential portfolio from Syntrus Achmea Real Estate & Finance for €51.2 million.

The Columbus portfolio comprises 212 units in all, located in 11 locations throughout the Netherlands. Most of the properties were built between 1980 and 1997.

Savills’ associate director residential investments Ronald Koemans said: “This portfolio attracted great interest from domestic and foreign investors, partly driven by the announced increase in transfer tax in the Netherlands from 2021.”

Koemans added: “For the time being, the housing market appears to be resilient to external factors such as Covid-19 and we expect that, if the supply side also remains stable, 2021 can be another important year for the residential investment market.”

Savills advised Syntrus Achmea Real Estate & Finance.