INVESTMENT VOLUME BELOW €1 BILLION
The moderate level of transactions in the first three quarters was not followed by a sustained upturn in the last three months of the year. With a total of only €744 million, the Stuttgart market achieved its weakest result in the last ten years. This represents a decline of more than 48% compared with the previous year and a decline of almost 56% compared with the ten-year average. From a structural point of view, it is worth noting that the volume is derived exclusively from single transactions. There have been no significant portfolio sales to date, which would have benefited the Stuttgart market proportionately. Last year, however, there were pro rata package sales of around €630 million, in particular in connection with Brookfield's majority acquisition of Alstria. Looking at single transactions, turnover is only 8.5% lower than in 2022, which is the smallest decline in transaction volume among the major German locations. However, this is still a weak performance as few large deals were completed. The only deal in the triple-digit million range was the sale of the Calwer Passage.