GPP says Berlin investments leave other top locations in the dust
German Property Partners (GPP) reports that €4.83bn was invested in Berlin real estate in the first half of the year, almost twice as much as in the previous year’s period (+97%). In Munich and Hamburg, however, revenues halved to €1.4bn and €1.1bn respectively. Frankfurt also saw a 17% drop to €2.7bn despite the major deals involving the buildings “Die Welle” and the “T8”. Stuttgart (-17%) and Düsseldorf (-6%) fell behind the previous year’s results as well. The only cities with gains were Cologne (+24%) and Berlin. In total, €12.7bn – 10% less than in the previous year’s period – was invested in Germany’s Big 7 cities in H1. GPP anticipates a transaction volume of approx. €32bn in the Big 7 for the year as a whole, after €36.7bn in 2018, not least because of the continuing decline in available real estate.
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