Last month saw the triumph of Germany at the World Cup in Brazil – the first European team to win the championship in South America. But amid disappointing performances from England, Spain and Portugal, perhaps the most exciting results came from the Netherlands, who placed third in the world, and second among the European nations. In the June edition of Europewatch we had touted the Netherlands as providing the best hidden value in Europe – in real estate as in football – and in this edition we take a closer look at the incipient recovery in the investment market there. From an economic perspective, the Netherlands has been through a recession as savage as any in the South, thanks to a housing market and banking sector downturn.
However, recent data shows something of a turnaround in the real economy. Moody's recently changed its sovereign debt rating from Aaa from negative to stable as the Eurozone contagion risk diminishes and subsiding risks from the housing market. All of which bodes well for property markets.
Source : CBRE Global Investors