Resi that is ‘Paris-proof’ and affordable is key for Altera

The residential market in the Netherlands does have to contend with the issue of rising interest rates but the main driver in the investment market is scarcity, stated Jaap van der Bijl, CEO of fund manager Altera.

“There’s huge demand for residential and we need to figure out how we can build new housing for people,” he told Real Asset Insight’s Richard Betts.

And while it is necessary to increase the quantity of the housing stock it is also important to ensure that existing stock has been brought up to the right level of sustainability, it has to be made “Paris-proof”, van der Bijl said.

“We’re taking time to discuss with developers and building companies earlier than we used to do before,” he added. “This is very important because everyone is trying to adjust to this new environment in terms of financing.”

Altera’s status as a full equity investor enables that to happen.

He said that the company has developed asset road maps for existing stock which will enable assets to be made Paris proof in forthcoming years.

But social impact and affordability are also high among Altera’s goals.

“They are exceptionally important. We focus on mid-rents, which is roughly between €800 and €1,200 per month. For our target groups it has to be affordable,, it has to have good quality and it has to be sustainable. That’s exactly what we do.”