Boston, MA -- (SBWire) -- 03/18/2014 --Germany's commercial real estate sector remains in a strong position into 2014 as the industry continues to benefit from its status as a safe haven amid the uncertainty surrounding the rest of the Eurozone. We expect some upward movement in rental rates over the year, though growth will be more noticeable in some sub-sectors and cities than others.
The Germany Real Estate Report examines the commercial office, retail, industrial and construction segments throughout the country, in the context of Germany's central role in managing the ongoing eurozone debt crisis.
Commercial real estate growth is very much dependent on a healthy macroeconomic environment. The situation in Germany remains broadly robust, thanks in part to its status as a safe haven market and its comparative regional strength, factors which resulted in a significant uptick in direct in investment during H213. In 2014, we expect the sector to continue to outperform many of its regional rivals, as economic growth starts to speed up across the country. However, we caution that many of the headwinds facing the sector in 2013 remain in place, most notably a slowing export sector due to weak demand from China and the Eurozone, as well as ongoing concerns surrounding the health of the consumer sector. Nevertheless, we expect 2014 to prove a positive year for the real estate market which will reinforce its status as the strongest commercial property sector in the Eurozone.
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Recent Developments
- IVG Institutional Funds, a special fund managed by German real estatecompany IVG, has sold a 31,000 sq m office complex in Hamburg,Germany, to Austrian group Signa for an undisclosed amount. Thecomplex, called Alsterhaus, was acquired by the IVG fund in early 2009for a sum of about EUR100mn (US$135.8mn). The five-storey property onthe Jungfernstieg is home to a Karstadt department store and datesback close to 100 years. Institutional investors in the IVG fund haveachieved a double-digit return in just less than five years, accordingto Lars Flechsig, head of the Hamburg branch.
- German property firm Patrizia Immobilien has announced that it is tobuy 36 office buildings in Germany in a deal expected to have closed by theend of 2013. The buildingscomprise a total 450,000 square meters of space and are located in thestate of Hesse. They are being sold by real estate firm CA Immobilienfor EUR800mn (US$1.1bn) in what could be the country's largestcommercial real estate deal of the year.
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"Germany Real Estate Report Q1 2014" Now Available at Fast Market Research
Recently published research from Business Monitor International, "Germany Real Estate Report Q1 2014", is now available at Fast Market Research