WEAK PORTFOLIO SEGMENT WEIGHS ON THE MARKET
The Hamburg investment market closes 2021 with a transaction volume of just over €3.1 billion. This corresponds to a decline of around 43% against the strong result of the previous year. Compared to the 10-year average, the market also shows a below-average performance (21%). While the single deal segment, at €2.95 billion, is in the range of the long-term average, portfolio deals contribute less than €200 million to the result. By comparison, package sales of €1.66 billion were registered in the previous year. In addition to the lack of portfolio deals, the investment market is suffering from a glaring lack of product - especially in the core sector: While almost €3.0 billion was transacted here in 2020, the value is now a good half. Nevertheless, the market is showing a clearly positive trend over the course of the year: at €1.9 billion, the investment volume in the second half of the year is significantly higher than in the first half (€1.2 billion). Basically, however, it is evident that the demand for commercial real estate in the Hanseatic city is more than robust and that properties on offer are quickly taken up by the market. Ultimately, the lack of product in the core segment is the main obstacle to a significantly better investment result.