SOLID START TO THE YEAR IN THE HANSEATIC CITY
With a transaction volume of just under €640 million in the first quarter, Hamburg's investment market is off to a buoyant start to 2021. Although the result is 48% down on the same period of the previous year, it should be noted that the first quarter of 2020 was largely spared the effects of the Corona pandemic. In addition, the investment market benefited significantly from portfolio deals and corporate investments, particularly in the retail segment in Q1 2020. Whereas portfolio sales accounted for a good 30% of the investment volume in the previous year, this figure is currently less than 3%. However, if only the single deals are considered, the situation is much brighter. Although turnover in Q1 2021 was down by a good quarter year-on-year to a good €620 million, a total of 25 deals were counted, significantly more than at the start of 2020 (18 single deals). This shows that the Hanseatic city continues to enjoy a very high standing among real estate investors and that the Hamburg economy is expected to make a strong comeback after overcoming the Corona crisis.
Read the full report by downloading the PDF document.