Thanks to our dedicated team with many years of (multidisciplinary) real estate expertise we are always on top of market trends and new legislation. Whether it concerns construction, project development, real estate transactions, asset management or real estate funds and platforms; our advisers know what your business is dealing with and will assist you to achieve your goals and business objectives.
Following from both national and EU law, such as the Energy Efficiency Directive, stricter requirements apply in respect of new building energy consumption, usage, maintenance and multi-functionality. Combined with higher market standards and energy transition, this leads to growing interest in the redevelopment or transformation of existing buildings.
Stricter European climate legislation and a clear definition of Environmental Social and Governance factors (ESG) will dictate whether there is appetite for a development product. Real estate investors adapting quickly to the new requirements, will have access to more capital. With supply of new real estate being scarce, vacancy rates are slowing down, rents are higher and discount interest rates are decreasing.
As with all alternative investment funds, real estate funds show an increasing focus on the ESG effects of investments. It is therefore vital that real estate funds make sustainable investments when they are marketed as such. For this to happen, the European legislator has, among other things, implemented the Sustainable Finance Disclosure Regulation (SFDR). Read more on ESG.
As of 2023, the Environmental and Planning Act is expected to enter into effect, introducing a new reality for development regulations. This act revises the rules on zoning plans, environmental activities and permits. It will undoubtedly lead to administrative complexities – especially if municipalities are not ready to implement the new regulations.
Under the proposed ATAD3 EU Directive, European entities with insufficient substance or a European entity largely (>60%) holding foreign real estate, will qualify as a ‘shell’, potentially resulting in adverse tax consequences. The legislation becomes effective in 2024, with a two-year review period and will be applicable to both new and existing structures. Read more on ATAD3.
It is expected that Pillar Two will come into force as per 2023. Groups with a turnover exceeding the EUR 750 million threshold will become subject to a minimum effective tax rate of 15%. As it stands, Investment Funds or Real Estate Investments Vehicles that function as an Ultimate Parent Entity classify as excluded entities and are therefore not subject to Pillar Two. However, a lot remains uncertain and future restructuring options may be limited, given the ambitious timeline for implementation. Read more on Pillar Two.
To align with international standards, the Dutch government announced an overhaul of the tax classification rules for Dutch and foreign entities. While it remains unclear when the new rules will become effective, the legislative proposal is scheduled for the third quarter 2023. Read more on this trend.
Prompted by the low availability of large-scale new build projects and propositions from developers, (institutional) investors are showing an increasing appetite for turnkey transactions with forward funding. In the residential market in particular, this is happening by means of share deals. Increasing interest can also be seen in housing, particularly for senior citizens and with healthcare provision. At the same time, there is a high demand for logistic centres and data centres.
Due to the limited availability of (social and mid-market) housing in the Netherlands, national and local governments are limiting the freedom to buy and let houses. One increasingly active restriction is the ‘buy-to-let’ prohibition, where it is – in short – prohibited to buy a house in a certain category or price range for the purpose of letting it to another party.
Additionally, municipalities often require a minimum amount or percentage of social or mid-market housing in housing unit developments, in exchange for cooperation or approval.
The updated 2026 edition of our publication ‘Investing in real estate in the Netherlands' is now available. This publication provides (foreign) companies that invest in Dutch real estate with an understanding of the main legal and tax issues that may arise during such an investment.
The publication ‘Project development & construction in the Netherlands’ offers a clear overview of the key legal and tax aspects of project development and construction. Designed for developers, investors, builders as well as in-house and other lawyers.
We advise clients across the hotels and leisure sector on the full lifecycle of their investments, combining deep industry insight with multidisciplinary legal and tax expertise. Our team supports owners, developers, operators, private equity sponsors, and institutional investors in navigating complex corporate and real estate transactions, including acquisitions, divestments, joint ventures, fund and investment platform structuring, and portfolio (re)organisations.
Our approach is fully integrated: alongside our market‑leading real estate and corporate M&A capabilities, we bring together specialists in tax, finance, regulatory, employment & benefits, commercial contracts, data protection (GDPR), competition/merger control, notarial services, and dispute resolution. This enables us to advise on every strategic, operational, and regulatory aspect of hotel ownership and operation within one coordinated team.
Acting regularly for international hotel groups, private equity funds, institutional investors, and real estate platforms, we are well‑versed in cross‑border transactions and the unique structural, financing, governance, and tax considerations that apply to hotels as an asset class. Our advice is pragmatic and commercially focused, designed to deliver value and certainty a rapidly evolving hotels and leisure landscape with complex commercial, operational, and regulatory drivers.
We have extensive experience with key operational arrangements - such as Hotel Management Agreements (HMAs), franchise agreements, leases, technical services agreements, and outsourcing arrangements - ensuring that commercial goals, risk allocation, regulatory compliance, and tax efficiencies are aligned from the outset.
