HIGH LEVEL OF INVESTMENT ACTIVITY IN HAMBURG
With a transaction volume of just over €1.2 billion, Hamburg's investment market achieved a rather mixed half-year result which was about 44% below the figure for the same period last year. However, it should be noted that the first quarter of 2020 was still largely unaffected from the Corona pandemic. In addition, the investment market benefited strongly from portfolio deals and corporate investments, which generated high transaction volumes, particularly in the retail segment. In the previous year, portfolio sales accounted for a whopping 43% of the total volume, compared with just under 13% at present. Looking only at the single deals, however, there are some positive aspects. Although individual transactions accounted for €1.05 billion in the first half of the year, almost 16% less than in the previous year, a full 44 deals were counted. By comparison, there were only 25 sales in the first half of 2020. This shows that demand for commercial real estate in the Hanseatic city is still very high and that properties on offer are being taken up quickly by the market. Ultimately, the lack of product in the large-volume core segment stands in the way of a significantly better investment result.