Woonstaete Beleggingen invests in affordable rental homes
The focus is on 1-, 2- and 3-room apartments and single-family homes, most of them delivered by Woonstaete Ontwikkeling. Woonstaete holds the homes for the long term, and Woonstaete Beleggingen raises loans from investors for each project.
Once completed, the homes stay within the group
Woonstaete Ontwikkeling, Woonstaete Beleggingen and Woonstaete Asset Management each have their own focus, and all three work on the same homes, from the first plans to the lettings. With everything kept in-house, the expertise and the responsibility for quality remain within Woonstaete. The Organisation page sets out what each of the three does.
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01 · DevelopWoonstaete Ontwikkeling
Finds the site, develops the homes in consultation with the local authority and delivers them. Because Woonstaete keeps the homes, a project does not need to find a buyer first.
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02 · InvestWoonstaete Beleggingen
Invests in the homes and holds them for the long term. Selects the projects, raises the loans for each one and is the point of contact for lenders.
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03 · ManageWoonstaete Asset Management
Lets and manages the homes, from the first tenants to every change of tenancy after that. Woonstaete bears the costs of management and vacancy, and these are not deducted from the interest.
- The rentWoonstaete Asset Management collects the rent from the tenants
- The project companyReceives the rent and pays the interest out of it
- The lendersReceive interest and, at the end of the term, repayment of the loan amount
The mortgage on the homes is held by an independently appointed foundation on behalf of all the lenders.
A separate company for each project
Each project is financed separately. Every project has its own company under Woonstaete Beleggingen, which owns only that project's homes and takes out the loan from that project's lenders. The lenders' claim is against that company.
The records of each project show which homes belong to it, which loan is secured on them and who holds the mortgage. Each project also has its own accounts and its own annual report. This clarity gives lenders certainty: another Woonstaete project does not affect the loan or the security of theirs.
The Security page explains how the mortgage on the homes works.
Homes and loan held per project, oversight across all projects
No project joins the portfolio without due diligence
Woonstaete Beleggingen decides which projects join the portfolio, and only after due diligence. An independent valuer sets the value of the homes. We also review the documents, the condition of the homes, the market and the tenants ourselves. We do this for every project, including homes that Woonstaete Ontwikkeling has delivered itself.
Once a project joins the portfolio, its valuation report and tenancy file are available to lenders in the portal, alongside the Information Memorandum.
We assume 2.5% annual indexation, while rents have risen faster
For each project we make a forecast in which the rent and the value of the homes grow by 2.5% a year. According to Statistics Netherlands (CBS), rents for social housing let by private landlords rose by an average of 3.5% a year between 2021 and 2026. The increase fell below our assumption only in 2021, when social rents were frozen by law.
We deliberately assume less than the market has achieved, because a project also has to work in a year when rents rise more slowly. An assumption is not a promise: rents may also rise less and the value of homes can fall. The risks of a loan and what we do about them are set out in the Information Memorandum.
Rent increase per year, 2021 to 2026
| Year | Social rent | Open-market rent | Mid-market rent, legal maximum | Woonstaete's assumption |
|---|---|---|---|---|
| 2021 | 0.3% | 2.2% | did not exist yet | 2.5% |
| 2022 | 2.8% | 3.8% | did not exist yet | 2.5% |
| 2023 | 3.7% | 4.5% | did not exist yet | 2.5% |
| 2024 | 5.7% | 5.0% | 6.8% | 2.5% |
| 2025 | 4.7% | 4.4% | 7.7% | 2.5% |
| 2026 | 4.1% | 4.5% | 6.1% | 2.5% |
Source: CBS StatLine, realised rent increase by type of letting, as at September 2026. Mid-market rent, open dots: the legal maximum (Dutch central government); the segment has existed since July 2024. An assumption is not a promise, and past figures are no guide to the future.
Three loans, each with its own profile
Woonstaete Beleggingen finances its homes project by project, through three types of loan from investors. Rust and Stabiel are loans on tenanted homes, secured by a first or a second mortgage. Opbouw runs during the construction period, secured by a second mortgage on the land.
Rust
5% interest a yearOn tenanted homes, with a first mortgage. Interest paid monthly, term 5 to 7 years, from € 100,000.
Read about RustStabiel
6.25% interest a yearOn tenanted homes, with a second mortgage. Interest paid monthly, term 5 to 7 years, from € 100,000.
Read about StabielOpbouw
8% interest a yearDuring the construction period, with a second mortgage on the land. Interest paid quarterly, term 12 to 18 months, from € 200,000.
Read about OpbouwThe offering shows which projects are open.
Get to know Woonstaete
Anyone who would like to know more about Woonstaete Beleggingen, the homes or how we finance them is welcome to arrange a personal conversation with us, without obligation. The general brochure describes the loans, the security and the people behind Woonstaete.
For the loans we work with a regular group of partners, including FIZ advocaten for the legal documentation and Bloqhouse for the investor portal.
Four questions we often hear about Woonstaete Beleggingen
Why does Woonstaete hold the homes itself?
Because Woonstaete delivers homes in order to hold and let them itself over the long term. A plan does not need a buyer before it can go ahead, and the day-to-day running of the homes stays with Woonstaete. Lenders have nothing to manage: they are paid interest and, at the end of the term, their loan amount is repaid.
Who is the borrower?
The company that owns the project in which the lenders invest. It sits under Woonstaete Beleggingen, owns only the homes in that project and is the party that takes out the loan. An independently appointed foundation holds the mortgage on those homes on behalf of all the lenders.
How is the interest funded?
The interest is paid from the rental income on the project's homes. Woonstaete Asset Management collects the rent, and the project company pays the interest out of it. Woonstaete bears the costs of management and vacancy.
What does a separate company for each project mean?
Each project stands alone, with its own homes, its own loan and its own mortgage. A project's loan and security are therefore unaffected by any other Woonstaete project. The Security page explains how the mortgage works and what happens in the event of default.