Savills Vietnam - NEW | 2026 - Dutch Retail Real Estate: The Power of Bricks in Retail

Read the latest developments in the Dutch retail real estate market below

The Dutch retail real estate market is undergoing a period of structural transformation. While e‑commerce growth has matured and stabilised, physical retail continues to play a vital role in driving urban vibrancy, consumer engagement and economic activity.

Experiential formats, omnichannel integration, and “phygital” retail concepts are strengthening the relevance of brick‑and‑mortar stores, while value‑driven segments and F&B operators are underpinning leasing activity across major cities.

At the same time, regulatory pressure on energy performance particularly through EPBD IV is accelerating the need for sustainability upgrades, especially in older and monumental assets. Demand for prime locations is improving, rental declines have bottomed out, and leasing periods are shortening, signalling renewed confidence in core retail markets.

Physical retail remains the dominant channel
Approximately 80% of retail sales in the Netherlands still occur in physical stores, while the online share has stabilised around 22% since 2023. Experiential and phygital formats increasingly drive engagement and conversion.
Prime high streets and leading retail locations show recovery and consolidation
Following the post‑pandemic correction, prime high streets and leading retail locations have bottomed out and stabilised. Tight availability in luxury segments supports resilience and is widening the performance gap with secondary locations.
Faster absorption and shorter listing periods
Median time on market declined from 17.7 to 9.8 months in 2025. This points to quicker decision‑making, stronger occupier confidence and a more competitive leasing environment in core urban areas.
Demand polarisation: fashion and F&B dominate take‑up
In the principal retail cities and dominant shopping locations, fashion accounts for 28% of leasing and F&B for 19%. The strongest projected growth is in value or discount at about 3.21% per annum and in drugstore, beauty and health at about 3.51% per annum, underscoring pressure on mid‑market concepts.
Omnichannel and phygital strategies lift performance
Click‑and‑collect, mobile checkout and real‑time stock visibility, combined with in‑store experience, increase dwell time, footfall and conversion. This reinforces retailer demand for visible prime locations.
Sustainability pressure intensifies under EPBD IV
While 34% of EPC‑certified retail assets hold an A‑label, a significant share remains in lower categories. EPBD IV and ESG mandates will accelerate efficiency upgrades and raise compliance requirements, particularly for older and monumental stock.