At a Glance Q4 2020

Healthcare investment market Germany

Healthcare-Immobilienmarkt Deutschland


The trend of increasing transaction volumes in healthcare real estate, which has been observed for years, was confirmed in 2020. At just under €4 billion a new record result was achieved, which was 68% above the previous year's figure. Even more remarkable is that the ten-year average was exceeded by around 130%. This extremely dynamic development in the year of the corona pandemic shows that more and more investors are recognizing the sustainability of this asset class. In contrast to other property types, demand and thus rental security is less subject to market fluctuations, but depends primarily on demographic trends. The argument frequently put forward in the past regarding excessive dependence on operators is increasingly fading. On the one hand, investment security is gaining in importance, especially in a difficult macroeconomic environment, and on the other hand, the professionalization of operating companies is further reducing the risk of default. Portfolio transactions made a particularly positive contribution to this development, increasing their result by around 140% to just under €3.09 billion. By contrast, sales of individual properties were around 18% down on the previous year at around €885 million. Nevertheless, this  was the second-best transaction volume ever recorded.

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