Commercial investors undeterred by high prices
JLL reports that the German commercial investment market picked up speed in the second quarter, despite low supply and continued rising prices. Transaction volume after the first six months is over € 24bn, according to JLL, CBRE and BNPPRE; Colliers International calculated €24.9bn, Savills €24.2bn. This is between only 1% (Colliers) and 6% less than in the previous year. The €20.1bn in individual deals even constituted a new record, according to BNPPRE. Berlin shot through the roof with a new record turnover of approx. €5bn, while the other top locations fell short of last year. Cities with transactions with a volume of over €200mn, such as Erlangen, Nuremberg and Wiesbaden, played a significant part here. Office properties remain the most in demand with almost 50%, ahead of retail, which benefited from the complete Kaufhof takeover by Signa with a volume of over €1bn.
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