News from the real estate network

Within a year, take-up of industrial and logistics space doubled to close the 1st half of 2021 at 340,000 m², GPP member Grossmann & Berger reports.

In the top 7 cities Hamburg, Berlin, Düsseldorf, Cologne, Frankfurt, Stuttgart and Munich some 1.21m square metres of office space was taken up, 1 % more than in the same period a year ago.

Overall, the market for investments in commercial properties located in Germany’s top 7 cities was back on an even keel by the end of the 2nd quarter of 2021 and transactions totalled €12.5bn.

Starting on 5 May 2021 the long-established real estate service providers Grossmann & Berger, E & G Real Estate and E & G Private Immobilien are pooling their resources. Together they intend to expand their nationwide activities, extend their services portfolios and offer clients an even better customer experience. The new union will serve clients from offices in Hamburg, Berlin, Stuttgart and Munich.

Take-up of industrial and logistics space in Hamburg and its environs totalled 135,000 m² in the 1st quarter of 2021 - the third time in succession that the quarterly result has consistently remained at pre-Covid levels, reports GPP member Grossmann & Berger.

According to GPP member Grossmann & Berger, in the first three months of 2021 the transaction volume of commercial property investments in Berlin totalled in €850m or 67 % less than the same period a year before.

In the 1st quarter of 2021 there was an enormous shortage of investment-grade commercial properties for sale in Germany’s top 7 cities. The transaction volume was thus correspondingly low and totalled €3.4bn, which translates into a year on year decrease of 54 %.

At the close of the 1st quarter of 2021, take-up of office space in Germany’s top 7 cities remained stable with a total of 655,300 m², posting year on year growth of 1 %.

Office lettings in Hamburg started 2021 with strong year on year growth of more than 30 % in the 1st quarter. Take-up of space in the first three months of 2021 totalled 130,000 m², reports GPP member Grossmann & Berger.

After the strong trading activity of 2020 it came as no surprise that the market for investments in commercial properties in Hamburg was quieter than it had been. In the first three months, the volume of transactions totalled €700m, reports GPP member Grossmann & Berger.