TRANSACTION VOLUME AT PREVIOUS YEAR'S LEVEL, BUT BELOW LONG-TERM AVERAGE
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The Düsseldorf investment market got off to a subdued start in 2024, but nevertheless recorded a target landing compared to the previous year. Accordingly, the transaction volume totaled €325 million, as in the previous year. At the same time, the long-term average was missed by almost 43%. This places Düsseldorf in fourth position in the ranking of A-locations behind Munich, Berlin and Hamburg. It is noticeable that no portfolio transactions have yet been included in the investment volume. Looking only at individual deals, the 10-year average was undercut by only around 17%.
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Due to the low number of deals and the dominance of one major transaction with over €100 million, the average volume per transaction is around €25 million. By far the largest transaction recorded in the market area so far this year is the sale of the Centrum Group's shares in Kö-Bogen II to the co-owner B&L.
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An unusual picture for Düsseldorf can be seen in the distribution of the investment volume by origin of capital. Foreign buyers have not yet played a role on the Düsseldorf investment market.
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Following a significant rise in prime yields in all asset classes over the last two years, a sideways movement can be observed at the beginning of the year. The prime yield for office properties remains unchanged at 4.50%. The same applies to logistics properties and retail buildings, for which yields remain unchanged at 4.25% and 3.95% respectively.