AFTER A WEAK THIRD QUARTER, THE MARKET CONTINUED TO RECOVER IN THE FINAL QUARTER
-
The investment volume on the Düsseldorf investment market just exceeded the billion euro threshold in 2024. The previous year's result was thus significantly exceeded by 15%. In a long-term comparison, however, the result is still 63% below the ten-year average (€2.8 billion), which is due in particular to the challenging financing conditions and the difficult macroeconomic environment. The weakening office letting markets also played a not unimportant role in the low transaction volume. They had a significant dampening effect on transaction activity in the office asset class.
-
After a very solid first half of the year, the market recovery took a short break in the third quarter before a robust result of a good €245 million was recorded again in the final quarter. Logistics/light industrial properties with a volume of €200 million made a significant contribution here. With the sale of the Vallourec site in Düsseldorf-Rath, a large-volume deal totalling €155 million was also concluded in the logistics segment in the fourth quarter. The buyer, Dutch company CTP, plans to develop a ‘multi-user park’ on the 83-hectare site.
-
In line with expectations, the net prime yields remain unchanged, as in the other A-cities. There have therefore been no changes since the end of 2023. The net prime yields for office buildings are quoted at 4.50%. Logistics assets yield slightly lower at 4.25%. For city-centre high street properties in prime locations, yields of 3.95% are still expected.