At a Glance Q1 2021

Residential investment market Germany

Wohn-Investmentmarkt Deutschland


In the first quarter, a transaction volume of €6.4 billion was recorded for residential portfolios of 30 units or more, which represents an exceptionally good start to the year. The result is around a quarter lower than in the previous year, but it needs to be stressed that a direct comparison is not very meaningful aslast year‘s result was driven by the acquisition of Adler Real Estate AG. This deal alone accounted for around 70% of sales at the beginning of 2020. By contrast, the only recorded major deal worth over €1 billion in the current year, the purchase of 7,500 Soka-Bau apartments by AEW, accounted for just under 20%. If the billion-euro deals are neglected in the analysis, the Q1 2021 result is almost twice as high as in the prior-year period. This statement is also underlined by the fact that the ten-year average was exceeded by a good 16%. There was very lively market activity in both the smaller and medium-sized size classes, which speaks for a broad demand base. Especially in uncertain times, residential investments guarantee not only stable long-term demand but also comparatively secure cash flows, and are therefore at the top of many investors' shopping lists.

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