HIGHEST INVESTMENT VOLUME AMONG THE B-LOCATIONS
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In the first half of 2024, an investment volume of around €226 million was registered on the Leipzig commercial real estate market. The result is therefore slightly (4%) below the prior-year half-year result and around 43% below the long-term average (just under €400 million). Despite a relatively resilient user market compared to other top locations, the challenging financing environment and the fact that the pricing phase has not yet been fully completed led to greater reluctance to buy among investors in Leipzig. Nevertheless, after the first six months of the year, Leipzig records the highest investment volume among the B-locations and ranks 6th in Germany (ahead of Stuttgart).
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Compared to the very subdued start to the year (€76 million), there was a certain acceleration in transaction momentum in the second quarter (€150 million). However, it is striking that no deal exceeded the €50 million mark in the second quarter.
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Encouragingly, the office asset class, which is still in a consolidation phase at a national and international level, recorded a noticeably higher transaction volume in the second quarter compared to the first quarter. Nevertheless, the investment volume in office properties is 30% below the long-term average.
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Prime yields have also remained constant compared to the first quarter of 2024. Net initial yields for office properties remain at 5.30%, for commercial properties in prime locations at 4.80% and for warehouse and logistics properties at 4.45%.