The gentle upwards trends on the market for investment in commercial properties in Hamburg continued throughout the 3rd quarter. The transaction volume of €1bn was some 42 % higher than the prior year’s total. Overall, a good third more transactions were noted in the third quarter. Buyers focussed on property investments in the small to medium price segment. In general, it is still too soon to speak of a sustainable recovery. The overall result remained well below the long-term average. “Overall we observe increased activity on the market. Institutional investors continue to be especially cautious, whereas others see interesting opportunities as a result of reduced asking prices,” remarks Andreas Rehberg, spokesperson for the Management Board of Grossmann & Berger Immobilien, a member of German Property Partners (GPP). Rehberg adds that for the 4th quarter, “we expect the market to continue trending upwards for the rest of the year. However, we do not anticipate a classic year-end rally. It will take time for the volume of investment trading to return to its long-term average.”
The market survey investment in Hamburg 2024 will soon be available to download from our website.
