At a Glance Q3 2019

Investment market Hamburg

Investmentmarkt Hamburg


The Hamburg investment market recorded a transaction volume of €2.78 billion in the first nine months of the year, which is around 31% below the exceptional result of the previous year. However, this figure is put into perspective when looking at the 10-year average, which was exceeded by more than 17%. After a very subdued start to the year, the third quarter made a decisive contribution to this, accounting for €1.64 billion or more than 59% of the total. The sale of the "Millennium Portfolio" to Commerz Real was not insignificant for this. The former real estate portfolio of Generali Lebensversicherung also included various properties in the Hanseatic city. As a result, the share of properties sold as part of portfolio transactions rose to a good 33%, which corresponds to a disproportionately high value. The largest single deal was the sale of the 15-storey office property "Edge HafenCity", which Allianz secured as part of an off-market forward deal. As a result of the numerous high-priced transactions, the average volume per property of €32 million is the second highest value of the past ten years after 2018 (€38 million).

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