This surplus value of urban quality is relatively resistant to market
fluctuations, as an historical pattern in the Dutch real estate
market indicates that high-quality locations virtually always perform
better in terms of demand and rental level than lower-quality
locations. Inner-city locations are in higher demand than more
peripheral locations (Zuidema, Van Elp, & Van der Schaaf, 2012).
This may be illustrated by the relatively strong position of the Zuidas
and similar high-end locations during the current downturn.
The same can be observed for instance in Lille, where the rent level
of Euralille – which was in many aspects an example for the secondgeneration
key projects – is considerably higher than that of other
locations within the city (Trip, 2007). This makes it reasonable to
assume that also in different market conditions high-end locations
maintain a higher and more stable rent level than other locations.