Residential investments reach all-time high after three quarters
Never before has more residential property been sold in Germany than during this year, and that in just the first three quarters. According to Dr. Lübke & Kelber, around €19bn were invested from January to September, significantly exceeding the record year of 2005. During Q3, though, the amount was only around €2.4bn – compared to €10bn in Q1 and €6bn in Q2. The record result for three quarters was due mainly to large transactions and takeovers. During the first nine months, 71% of the around 310,500 apartments sold were in transactions of more than 5,000 units. The takeovers by Vonovia and Adler Real Estate alone comprised 60% of all sales. With the planned takeover of LEG by Deutsche Wohnen, the consultant firm said it expected that the volume by year’s end could in fact climb to over €27bn.
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