UPWARD TREND CONTINUES: SIGNIFICANT PLUS DESPITE LACK OF MAJOR DEALS
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The Hamburg investment market continued the upward trend of the first half of the year and already exceeded the billion euro threshold at the end of September. With an investment volume of €1.02 billion, the previous year's result was improved by an impressive 59%. What is particularly remarkable is that this positive development was achieved almost without any major deals. In the first three quarters, only one deal in the lower triple-digit millions was registered.
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In the third quarter alone, the volume more than doubled compared to the previous year and, at €397 million, even exceeded the solid first quarter. The pace of recovery has therefore continued to increase over the course of the year.
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In a nationwide comparison, this result puts Hamburg in fourth place behind Berlin, Munich and Frankfurt, placing it in the usual position in a long-term comparison. The 59% increase in transaction volume is even the third-highest after Cologne and Munich.
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Prime yields, which had already begun to stabilise at the beginning of the year, remained unchanged in the third quarter. As a result, the net initial yield for office buildings is 4.25%, which is the same level as the net prime yield for logistics properties. For high street retail properties, the yield remains at 3.75%.