Dutch Local Government’s Property Portfolios
||Teuben, Bert; Mirande Waldman
||Dutch Local Government’s Property Portfolios
||14th Annual European Real Estate Society Conference in London, UK
||The ROZ/IPD Property index is established in 1994 to publicize an independent index on directly held real estate in the Netherlands. Since 2006 the ROZ Property index measures the characteristics on local government owned real estate in the Netherlands. The ROZ municipal benchmark measures characteristics on the portfolio size and expenses and income, in 8 large cities. Local government real estate portfolios consists out of buildings like town halls, schools, theatres, fire stations, community and sports centres. An outdated survey indicate a total value of € 30 to € 50 billion for the whole public sector real estate portfolio. The Dutch Statistical Office also carried out a survey on the Dutch balance sheets of municipalities and determined the book value of municipal owned buildings € 9,5 billion at the end of 2002. However, the book value isn’t based on market value. The authors carried out a survey on the size of the municipalities real estate portfolios. The survey is based on three different approaches. The first is a literature review based on the annual reports of municipalities. Secondly an inquiry held by the ROZ jointly with Vastgoedmarkt, a Dutch Real Estate Journal. The last approach is more detailed information from the participants of the ROZ Real Estate Benchmark for municipalities. The paper will give an indication of the total real estate portfolios by size (area) and value. If possible the total universe will be split down by type of building and type of use by the local government.
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||Session F4: Issues in Real Estate Investment II
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