Accentro Real Estate AG
- WKN: A0KFKB
- ISIN: DE000A0KFKB3
- Land: Deutschland
Nachricht vom 24.09.2019 | 08:00
Accentro Real Estate AG: Berlin Is Still Germany's Most Important Housing Market
DGAP-News: Accentro Real Estate AG
/ Key word(s): Real Estate
12th ACCENTRO Homeownership Report 2019
- Berlin easily outperforms other cities in terms of total sales volume
- Condominium prices rise sharply by 21.83 percent (German average: 6.82 percent)
- Number of flats sold drops for third time in as many years
Berlin, 24 September 2019 - With 18,885 residential units sold in 2018, Berlin remains the star performer on the German housing market. Runner-up, while trailing far behind, is Munich with 9,846 units sold. But among the "Big Seven" cities, the German capital also suffered the steepest decline in the number of condominiums sold after a drop by 11.66 percent (2017: 21,377 units). By contrast, condominium prices in Berlin rose by 21.83 percent last year, from an average of 263,966 euros (2017) to 321,578 euros. The total sales volume climbed to 6.07 billion euros (up from 5.64 billion euros in 2017). These are some of the findings of the twelfth ACCENTRO Homeownership Report (2019) for which the data of property valuation committees of the 82 largest German housing markets were analysed.
Fast Price Growth in Berlin
Berlin Ranks Fifth in Terms of Revenue per Sale
Last year's price hikes, which were well above the average, caused selling prices in Berlin to close in rapidly on the prices in other German metropolises. The associated average revenue per sale caused Berlin to move up from twelfth to fifth place. The cities where yet higher average prices are quoted are Munich, Hamburg, Frankfurt and Düsseldorf. As far as total revenues go, Berlin tops the list again because of its high number of sales, and is still well ahead of Munich. "For the longest time, Berlin's housing market was deemed most affordable among Germany's metropolises. The robust price dynamics of the past few years has to some extent closed the gap. That is why the total turnover was able to cross the mark of 6 billion euros for the first time, despite yet another dip in the number of units sold," said Mingazzini.
New-Build Condominium Sales Back in Decline
The number of new-build flats sold experienced a one-year decline by 21.24 percent as it dropped from 5,711 transactions in 2017 to 4,498 in 2018. This means that the trend reversed itself again after a modest increase between 2016 and 2017. Among the Big Seven cities, only Hamburg saw new-build condominium sales increase, reporting a 14.89-percent growth last year. Analogously, the number of residential units sold across Germany decreased by eleven percent. "Despite the decline in new-build transactions last year, Berlin as a location continues to generate strong demand. While the number of sales transactions in the other Big Seven dropped, it soared by 77.3 percent in Berlin over the same period of time. If the Senate of Berlin took measures to address the rising shortage in product and building land, the transaction figures would go right back up," said Mingazzini.
This year's edition marks the twelfth time that ACCENTRO Real Estate AG published its Homeownership Report. The analysis is based on residential property sales transacted in all of Germany's 82 major cities during the reporting year of 2018. A significant distinction that sets the report apart from similar publications, most of which rely on expert appraisals or on analyses of supply-side data, is that it draws on the data of the cities' property valuation committees.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is Germany's market leader in housing privatisations. In addition to its home market of Berlin, the company focuses on auspicious metro regions such as Hamburg, Rhine-Ruhr, Rhine-Main and Leipzig. In its Privatisation business unit, ACCENTRO retails condominiums from its proprietary portfolio to owner-occupiers and buy-to-let investors or-bundled into portfolios-to institutional investors. In its Services & Ventures business unit, ACCENTRO sells apartments on behalf of investors and property developers-including through equity investments in its own right within the framework of joint ventures. ACCENTRO Real Estate AG is listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3).
|Company:||Accentro Real Estate AG|
|Phone:||+49 (0)30 - 887 181 - 0|
|Fax:||+49 (0)30 - 887 181 - 11|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||878339|
|End of News||DGAP News Service|
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