Residential investment market half-year results above average
The high level of activity on the German transaction market for residential portfolios at the beginning of the year continued in the second quarter. Brokers report investment volume of around €7.1bn (BNPPRE), €8.1bn (NAI apollo) and €8.0bn (JLL), above the ten-year average. These figures fall short of H1 2018’s €11bn, which largely resulted from a single deal with Vonovia’s takeover of Buwog. The largest purchase this year to date is the acquisition of the BGP Group’s 16,000 residential units by Union Investment and ZBI. There have been few opportunities for foreign investors; BNPPRE reports their share of transaction volume to be only 4%.
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