VOLUME ALMOST DOUBLED COMPARED TO WEAK PREVIOUS YEAR
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A transaction volume of just under €1.2 billion was recorded on the Cologne investment market in 2024. This exceeded the previous year's weak result, which was well below the billion euro threshold, by a remarkable 92%. It is therefore hardly surprising that this growth rate makes Cologne the market in Germany with the strongest growth compared to 2023 after Munich. A direct comparison with Düsseldorf shows a higher investment volume, putting Cologne ahead of its Rhineland neighbour in fifth place among the A-locations.
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A large part of the annual result is attributable to two major deals by the City of Cologne in the second and third quarter, which together contributed an investment volume of more than €600 million to the annual result. Although no major deals over €100 million were registered in the final quarter, the segment of medium-sized deals between €25 million and €100 million was comparatively lively with five transactions. It is also pleasing that a quarterly result of over €100 million was reported for office investments in the final quarter of the year. Compared to the weak previous quarters, the market has thus picked up somewhat and there are initial signs of a slow recovery in this asset class.
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In line with expectations, prime yields in Cologne have also stabilised further, as in the other top German markets. Net initial yields for office properties are unchanged at 4.40%. This is followed by warehouse and logistics space, which yield 4.25%. High street properties in prime locations continue to yield 3.85%.