STRONG DEAL FLOW AND BIG-TICKETS PUT MUNICH IN THE LEAD
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Munich’s investment market carried its strong first-quarter momentum into Q2, confirming its position as the leading investment location among the A-cities. With transaction volume of around €1.24bn, the Bavarian capital was the only market to exceed the €1bn mark at mid-year. While larger transactions played an important role, the result was not driven by big-ticket deals alone. This is reflected in the number of registered transactions, which was last higher in 2022. Although deal count remains almost 38% below the long-term average given the still challenging market environment, the 35% year-on-year increase in volume sends a clearly positive signal.
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The most notable transactions in the first half of the year were primarily in the triple-digit million range. Alte Akademie, formerly part of the Signa portfolio, stands out as one of Germany’s largest retail deals so far this year. The inner-city office assets at Prinzregentenplatz 7–9 and Sonnenstraße 15, the former Lindbergh-Haus, also ranked among the five largest office investments recorded nationwide.
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Prime yields have remained largely unchanged so far this year in both the high-street retail segment, at 3.45%, and the office sector, at 4.20%. In logistics, by contrast, upward pressure has led to a slight adjustment of ten basis points to 4.60%.