For turning a Dutch offering memorandum, rent roll and Excel model into a sourced underwriting or value-opinion package, Titleman ranks first, because every figure in its output is traced to a document or formula and the median underwriting run takes about 58 minutes (44 runs, 30 days to 18 October 2026). For Dutch comparable evidence, StiVAD and Vastgoeddata Nederland hold the local transaction data that Titleman does not, and for automated values on housing stock, Calcasa and Altum AI are built for that job.
Updated 19 October 2026.
Published by Titleman, which makes one of the tools compared. Every description of another company comes from that company's own website as checked on 19 October 2026.
How we ranked
Five criteria, up to five points each, ranked by total:
- Fit for Dutch deal work. Built for offices, logistics, retail or housing here, or for another market?
- Figures traced to a source. Can a reader see where each number came from?
- Local data depth. Dutch transactions, rents or values of its own?
- Time to first usable output. From deal file to something a committee can read.
- Honesty about gaps. Does the vendor say what is not covered?
Titleman wins on criteria 2 and 4 and scores low on 3, where StiVAD and Vastgoeddata Nederland lead. Competitor scores rest only on their own sites; we have not run their products.
The ranking at a glance
| Rank | Tool | Best for | What it does | Where it stops | Pricing model (in words) |
|---|---|---|---|---|---|
| 1 | Titleman | Sourced underwriting and value-opinion packages from a deal file | Deal file or address to passport, comps, feasibility, value opinion or underwriting, in Excel and PDF | No Dutch comparables database of its own; not a valuation | On request (no price on this page) |
| 2 | StiVAD | Investment transaction evidence | Owners report investment deals into a shared register | Access tied to participation; not an analysis tool | Not stated on vendor site |
| 3 | Vastgoeddata Nederland | Lease and sale transactions across asset types | Databases of properties, transactions, end users and area analyses | Data and news, not underwriting | Not stated on vendor site |
| 4 | MSCI Real Capital Analytics | Cross-border deal and investor data | Global data on properties, deals, investors and loans | Market-level data, not a single-asset model | Not stated on vendor site |
| 5 | Calcasa | Automated values on residential portfolios | Automated valuations and portfolio revaluation | Built around homes, not income-priced commercial assets | Not stated on vendor site |
| 6 | Altum AI | Housing data by API | 30+ APIs for Dutch home values, energy labels and rebuild values | Residential only | Credit-based use; trial credits offered, prices on a separate page |
| 7 | Drooms | Running the data room on a sale | Virtual data room with an AI assistant and tabular document review | Organizes and reads documents; does not value | Subscription tiers, including a no-cost starter tier |
1. Titleman
Titleman is an AI analyst for commercial real estate deal work. Give it an address or a deal file and it returns a property passport, comps, a feasibility study, a value opinion or an underwriting package, as Excel plus a PDF or deck. Median underwriting run time on our production: about 58 minutes (44 runs, 30 days to 18 October 2026). It reads Excel files up to 40 MB and draws on 2,100+ sources across 337 workflows.
Best for: an acquisitions or credit team holding the seller's tenancy schedule and model that wants every figure traced and every gap named, not filled. See real estate underwriting AI.
Where it stops: Titleman's record data is deepest in the United States. In the Netherlands it has no transaction or comparable-sales database of its own; it works from 2,100+ sources and the documents you supply. It does not apply Dutch tax, tenure or measurement rules, gives no final price or buy or sell verdict, and underwrites the property, never the borrower. It is not a valuation by a registered or RICS valuer.
2. StiVAD
StiVAD describes itself as a non-profit, independent foundation for a more transparent Dutch market. Participating owners report their investment transactions into a register with 80 to 100 data points each, and it publishes a Commercial Real Estate Monitor and a footfall index. Best for: yield and price evidence on investment deals. Where it stops: it is a data source for participants, not a tool that builds your model.
3. Vastgoeddata Nederland
Its site offers searchable databases of properties, lease and sale transactions, end users and organizations, plus area analyses. Best for: finding the letting and sale evidence a Dutch appraiser or broker would cite. Where it stops: it supplies evidence; the underwriting is yours to build.
4. MSCI Real Capital Analytics
MSCI presents it as a global database of commercial properties, transactions, investors and loans. Best for: funds comparing Dutch pricing with other European markets. Where it stops: it describes the market, not the lease-by-lease cash flow of one building.
5. Calcasa
Calcasa runs its own automated valuation model, with desktop and model valuations, a quarterly portfolio service and market analysis apps. Best for: lenders and owners revaluing residential portfolios. Where it stops: its site centers on homes, not on offices or warehouses.
6. Altum AI
Altum AI offers more than 30 APIs for Dutch home data, from market values to energy labels. Best for: teams wanting housing data inside their own systems. Where it stops: the Netherlands only, and housing only.
7. Drooms
Drooms runs virtual data rooms, with an AI assistant and tabular review that read the documents inside. Best for: the seller or adviser managing a disposal. Where it stops: it organizes and reads documents; it does not price the asset.
How commercial property is underwritten in the Netherlands
Yields are quoted gross and net. Brokers and appraisers talk in BAR and NAR, the gross and net initial yields. The net figure deducts owner costs and usually purchaser's costs, so two quoted NARs may not be built the same way.
Leases follow standard models. Most office and retail leases are written on the ROZ model forms, with general provisions attached. Retail tenants get strong statutory renewal and rent review rights; offices sit under a lighter regime. Rents are usually indexed each year to consumer prices. The tenancy schedule should show lease form, indexation and break dates.
Energy labels matter for offices. Since 2023 most offices must hold at least an energy label C to be used as an office. The cost of reaching it can move a bid.
Residential is regulated deeply. The 2024 rent law extended regulation to the mid-rent segment, which changed how investors underwrite apartment blocks.
Valuations are done by registered valuers. Banks and funds rely on external appraisals by registered valuers, often to RICS standards for international owners.
Logistics runs along corridors. Demand clusters near the ports and along routes inland toward Germany and Belgium.
Compare Belgium, or the Europe overview.
Where Titleman is not the right tool in the Netherlands
- You need comparable evidence. Titleman holds no Dutch transactions. Use StiVAD or Vastgoeddata Nederland and give Titleman the evidence you collect.
- You need a valuation for a lender or the annual accounts. That is work for a registered valuer.
- You need rent rules applied. Titleman does not model Dutch tenure, tax or rent regulation, so regulated housing needs a local specialist.
- You manage a portfolio. Lease administration belongs in dedicated systems.
If your work is the package itself, get access and run a Dutch deal you have already closed.
FAQ
Which AI tool is best for Dutch commercial real estate underwriting?
Titleman, for turning a deal file into a package where every figure is traced. For the Dutch transaction evidence behind it, StiVAD and Vastgoeddata Nederland hold data Titleman does not.
Does Titleman have Dutch comparable sales?
No. Outside the United States Titleman has no transaction or comparable-sales database of its own. It works from 2,100+ sources and the documents you give it, such as the offering memorandum, rent roll, tenancy schedule and Excel model.
Can an AI tool replace a registered valuer in the Netherlands?
No. Banks and funds rely on appraisals by registered valuers. AI output can support a bid, not replace the report.
What is the difference between BAR and NAR?
BAR is the gross initial yield, rent divided by price. NAR is the net initial yield after owner costs and usually purchaser's costs.
Which tool fits Dutch residential portfolios?
Calcasa and Altum AI, built around Dutch housing data. Titleman can underwrite a block from its documents but does not apply rent regulation.