The first half of the year saw the highest-ever demand for German residential portfolios, according to NAI apollo group, with €17.2bn transacted within the sector during the first six months.
The new record marks an impressive 143.3-percent jump y-o-y. The transaction volume in H1 2014 totaled €7.1bn. This was mainly thanks to large-scale deals from Deutsche Annington, which was behind two of the biggest deals to close during H1 2015 including the €8bn Gagfah takeover, as well as the €1.9bn acquisition of Süddeutsche Wohnen (Südewo). Adler Real Estate, meanwhile, took over Westgrund for roughly €800m.
“Company takeovers and large individual deals led to the fact that the number of residential units traded on the market doubled from 124,500 in the first half of 2014 to 269,400. At the same time, the number of transactions increased by 23.3 percent from 150 in the previous year to 185,” said Konrad Kanzler, head of market research at NAI apollo group.
