SIGNIFICANT INCREASE COMPARED TO OTHER ASSET CLASSES THANKS TO YEAR-END RALLY IN PORTFOLIOS
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Even if the results of the years prior to 2023 have not yet been achieved again, the retail investment market was able to take advantage of the continuous improvement in market sentiment over the last 12 months and achieve a good overall result in 2024. With a total transaction volume of around €6.3 billion, the previous year's weak result was exceeded by almost 28%.
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The leading position among property types, which the retail sector held over the course of the year, was narrowly surrendered to logistics investments (around €6.9 billion). However, the biggest jump in turnover by far compared to the previous year was attributable to the retail sector, which is a clear indication of the positive trend in this asset class.
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In the fourth quarter, several food-anchored portfolios crossed the finish line shortly before the end of the year, driving up the portfolio volume. In total, around €1.2 billion flowed into portfolios (share 19%), while individual sales amounted to almost €5.2 billion (share 81%).
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One factor that speaks for the current broad and diverse demand structure in the retail investment segment is reflected in the distribution of volume across property types: three of the four retail segments, the specialist retail and food sector (33%), high street buildings and department stores (around 28% each), have very extensive market shares. In addition, shopping centres also gained significant shares in the second half of the year (12% of the overall result), not least due to the sale of the Pasing Arcaden in Munich. The Pasing Arcaden transaction, which was accompanied by BNP Paribas Real Estate, is one of the largest shopping centre asset deals of the last ten years.