MODERATE FULL-YEAR RESULT
The significant interest rate hikes, a weakening economy and an inflation at historically high level ensured that the German residential investment market was noticeably more restrained in 2022 than in previous years. Last year, a good €13.1 billion was invested in larger residential portfolios (30 or more residential units) throughout Germany. The outstanding record result from the previous year was thus missed by around 74 %, whereby it must be taken into account that in 2021, among other things, the acquisition of Deutsche Wohnen by Vonovia, worth more than €22 billion, distorted the result upwards. The long-term average, which was missed by around a third, is therefore much more relevant.
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