LACK OF SUPPLY SLOWS DOWN INVESTMENT TURNOVER
Office properties remain high on the shopping list of investors. With a nationwide transaction volume of 5.3 billion €, the third best result ever was achieved in the first quarter. However, investor demand would have been sufficient to generate a significantly higher volume if more properties had been available. The lack of supply is therefore also the reason why the record turn-over set last year was missed by 15 %. Nevertheless, office real estate contributes almost every second euro to commercial investment turnover and thus remains by far the most important asset class. Once again, the market was dominated by individual deals, which achieved their second-best result ever with just under 5.2 billion €. Package sales, on the other hand, only reach a good 100 million €, which corresponds to one of the weakest annual starts of the last ten years - even though buyers are desperately looking for large-volume portfolios. Here, too, there is a shortage of product. Among the most important deals are the sale of Oberbaumcity, the Pressehaus on Alexanderplatz and the Spreeturm, all in Berlin. In the other major cities, only a few transactions in the three-digit million range were recorded in the first quarter.
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