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Residential portfolio market in Germany: Annual transaction volume falls to lowest level since 2015 with €13.2bn in 2022

  • Wait-and-see attitude among market participants and a decline in mega deals cause drop in transaction volume
  • Below average sales in fourth quarter of €2.9bn
  • Project developments maintain high market share and account for 42.6 % of transactions
  • “Open-Ended Funds / Special Funds” remain most active buyers
  • German investors continue to dominate the market despite a noticeable decline
  • Forecasting for 2023 remains difficult, especially because the gap between seller expectations and buyer budgets is still too wide; ESG compliance is of mounting importance; new buildings remain in demand, but are associated with high building and financing costs, whereby attention is shifting to properties with development potential

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Weak fourth quarter results in below-average take-up on Frankfurt office lettings market

  • Space take-up of 381,600 sqm in 2022 is well below comparative medium- and long-term average results
  • Banks, financial service providers and insurers account for a quarter of take-up and play dominant role
  • Banking district accounts for highest share of market activity
  • Vacancy rate broadly stable at 7.5 %
  • Rents are on an upward trend: Prime rent stable at €46.00/sqm while average rent increases to €23.90/sqm
  • 2023: Outlook is moderately optimistic owing to the recent improvement in economic forecasts; ecological sustainability is of growing importance; decreasing space requirements owing to hybrid working models

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