In the course of 2017, the Dutch economy gained additional positive momentum. GDP growth was dominated by strong export figures, private investments and increased household spending.

The Residential Fund has a well-defined growth strategy, as we believe the residential sector continues to offer good long-term investment opportunities, especially for investors with a liability hedge strategy.

Portfolio composition at year-end 2017:

The Fund realised a total return of 15.6% in 2017 (2016: 20.5%), consisting of 2.8% income return (2016: 3.4%) and 12.8% in capital growth (2016: 17.1%).

The forecast growth in number of households will remain a major long-term factor in the increasing demand for homes.