NO SUBSTANTIAL RECOVERY IN SECOND QUARTER
Having already started the year with a historically low transaction volume, the Cologne investment market did not pick up sustainably in the course of the second quarter either. Only about € 135 million have been placed in the cathedral city in the last three months. The quarterly average over the past 10 years is around € 500 million. At the end of the first half of the year, the volume totalled just under € 186 million, which is 71% below both the previous year's result and the long-term average. Meanwhile, the portfolio share is 38%. The very subdued half-year clearly reflects how the central banks' cycle of interest rate hikes, which has not yet been completed, has so far prevented all market participants from reaching a new sustainable price level.