LOW PRODUCT SUPPLY PREVENTS HIGHER RESULT
In the first three quarters, the Hamburg investment market achieved a transaction volume of just over €2.1 billion, 44% below the previous year's figure and the weakest result in the last eight years. Similar to the other major German real estate locations, Hamburg is also suffering from a significantly below-average portfolio share. To date, just under €160 million in transaction volume has been generated from package sales, representing a 7% share of the overall result. By comparison, portfolio deals worth just under €1.15 billion were registered in the same period last year. However, if only single deals are considered, the picture brightens somewhat. At just under €2.0 billion, the volume of individual deals is only slightly below the long-term average (-9.5%). Interestingly, the number of registered deals, at 75 transactions, is just as high as in the previous year; only the average deal volume (€28 million) is significantly lower. It is evident that demand for commercial real estate in the Hanseatic city remains high and that properties on offer are being taken up quickly by the market. Ultimately, it is primarily the lack of product in the core segment that stands in the way of a significantly better investment result.