German commercial property market continues to prosper | 24 October 2011
Interest in German commercial property remains remarkably high, according to a new report.
A study by Colliers International has estimated that over 20 billion euros will be invested in German commercial property this year, following a massive increase in demand from both local and international investors.
A report from propertyeu.info claims that the country has received around 6.6 billion euros of international investment so far this year, which represents almost 40 per cent of transactions.
Property in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich and Stuttgart currently accounts for 42 per cent of the country’s transaction volume. Retail stores have also proved popular.
Andreas Trumpp, who is head of research at Colliers International, claimed that Germany’s commercial property market would continue to prosper until the end of the year.
Speaking to property-magazine.eu, he said: “Total transaction volume up to the end of the third quarter came to just under 16.8 billion euros, more than 27 per cent above the previous year’s result.
“Based on a noteworthy number of larger transactions currently reaching the final stages of negotiations, we assume that the total transaction volume reached by the end of the year will be toward the upper end of the forecast we made at the start of the year.”
Written by Joe Elvin on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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