At a Glance Q4 2018

Residential investment market Germany

Wohn-Investmentmarkt Deutschland

Renewed increase in residential investment volume

The transaction volume with larger residential portfolios (30 residential units or more) has increased again year-on-year. In total, residential portfolios changed ownership accounting for around 16.3 bn €, an increase of 16 % compared with 2017. Only in 2015 was the volume even higher thanks to the purchases of Gagfah and Süddeutsche Wohnen by today's Vonovia, which alone generated sales of almost 10 bn €. However, the takeover of the Austrian housing group Buwog by Vonovia in 2018, whose German holdings were included at over 2.7 bn €, also marked a significant deal. One of the largest portfolios of the year is also the Century portfolio, which the Danish pension fund PFA acquired from Industria Wohnen. Like all the others, however, it remained below the 1 bn € mark. A total of well over 300 transactions involving around 133,000 residential units were included in the result. On average, both the parcel size, at around 420 units, and the average portfolio volume, at just over 50 m €, is above the previous year's figure.

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