Sara Seddon Kilbinger

German Bundestag

martingerz2/flickr, CC BY-SA

Germany’s Constitutional Court has ruled that the country’s Grundsteuer(land tax) is obsolete, it announced earlier this month, paving the way for a much-needed shake-up in the market. more



© Dan Morar -

The transaction volume in the German hotel market tumbled by 41% in the first quarter to €661m, according to CBRE, as demand continues to radically outstrip supply. more



© JFL Photography -

Phoenix Spree’s bet on the Berlin market has paid off: the UK-listed investment company specialising in German residential real estateachieved an NAV total return of 53% in 2017, in a sign that Berlin can generate hefty returns. more


Kruno Crepulja - Instone

Instone Real Estate Group B.V.

Germany’s project development market is stagnating for first time since the financial crisis, as rising costs put the brakes on growth in many major cities, according to Bulwiengesa’s‘Project Developer Study 2018’, published this month. more


Global real estate

© Tiberius Gracchus -

Capital raised for real estate investment by real estate investment managers soared to €152.3bn globally last year, up 25% increase on 2016, according to the 2018 Capital Raising Survey, published this month by INREV, ANREV and NCREIF. more


Investment Geld Euro

© Valerie Potapova -

The ‘flight to safety’ has escalated over the past 12 months as international investors become more cautious, according to London-based online investment platform BrickVest’s latest commercial property investment barometer. more



© SerrNovik -

Austria is on track for another bumper year, following a record year of investment in 2017, Dr. Martin Sabelko, managing director of Warburg-HIH Invest Real Estate Austria, told REFIRE this month. more


Tobias Kassner - BulwienGesa


Light industrial deals hit a new high in Germany last year at €3bn, a 27% increase on the former record in 2015, according to a report published this month by Bulwiengesa, ‘Initiative Unternehmensimmobilien 2H 2017’. more


Acquisitions, Contracts and Deals


Smyths Toys has agreed to acquire more than 90 Toys “R” Us stores in Germany, Austria and Switzerland for an undisclosed sum, in a move that will almost double the size of the Irish family-owned retailer. more


Sven Carstensen - Bulwiengesa AG

Bulwiengesa AG

Secondary cities in Germany offer better prospects that the ‘Top 7’ office markets, according to a survey published this month by Bulwiengesa and DEMIRE Deutsche Mittelstand Real Estate. more


Student apartment

© Kitty -

Patrizia Immobilien has acquired a residential portfolio comprising 300 student and business apartments in Leipzig and Mainz for €33m on behalf of a separate account mandate from an unnamed German pension fund. more


Henri Vuong - INREV


German funds are increasingly sluggish against a backdrop of a slow-growth world, according to INREV’s German Vehicles Quarterly Index for 4Q 2017 published this month, which shows an overall slowdown in performance across 193 vehicles. more



© contrastwerkstatt -

Students flocking to study in Berlin will have to face an unwelcome truth: rents in the city have rocketed more than in any other German city, up 39% since 2011, according to a study of 160 German cities and student rents between 2011 and 2018... more


Real Estate - Office

© Renáta Sedmáková -

Real estate is outperforming other private capital asset classes with high median IRRs, although there are already signs that this can no longer be sustained, according to Preqin’s Real Estate Spotlight published this month. more


Charles Balch - pbb


Pbb Deutsche Pfandbriefbank has readjusted its profit forecasts for 2018 by up to 25%, citing increased competition in the German marketplace. more



© Dan Morar -

Tourism in Europe is expected to grow by 3.5% to 4.5 % this year, in a move that will add zing to European hotel markets, according to Matthias Hautli, manager at Engel & Völkers Hotel Consulting.‘Growth is mainly based on the global and European... more


Roland Fuchs - Allianz Real Estate


Allianz’s global real estate portfolio hit a new record high of €56b of AUM last year, putting it firmly on track to reach its target of €75b by the end of 2020, Annette Kröger, CEO of Allianz Real Estate North and Central Europe, told REFIRE... more


Karsten Jungk - Wüest & Partner

Florian Glock

Logistics transactions soared by 80% in Germany last year, setting a new record high, Karsten Jungk, head of Wüest Partner in Germany, told REFIRE this month. more



© elxeneize -

German residential group Velero Partners and Forte Group have finalized their acquisition of a portfolio of 4,500 apartments in North Rhein-Westphalia from US investment management Angelo, Gordon & Co. for an undisclosed sum... more


Oliver Schumy - Immofinanz

Mayr Melnhof - Karton AG

An affiliate of US private equity firm Starwood Capital Group has made a bid to acquire up to 26% of Austrian property company CA Immobilien as well as a smaller stake in its rival Immofinanz, it announced on 22 March... more