Developing benelux REITs

Abstract

The REIT regime has had a good home in the Benelux, albeit at different paces and varying scales. In 1969 the Dutch government was second after the U.S. to adopt a REIT-like structure to promote real estate investments, and has successfully done so thereafter. In Belgium the REIT structure was introduced in 1995, and has since fuelled a listed real estate market that today represents a market capitalization of seven billion euro's scattered over 11 different listed firms. For the Lux part of this Benelux introduction the numbers are less compelling. Although Luxembourg has always been a good home for tax efficient investments, real Luxembourg REITs are yet to come.