Germany’s retail property investment market registered an investment volume of €1.9 billion ($2.3 billion) in the first three months of 2021, reflecting a decline of 59 percent year-on-year, reported CBRE.
The notable downturn in the transaction volume compared with the year-earlier period needs to be seen in the context of the exceptional first quarter of 2020. The current volume nevertheless also falls significantly short of the 10-year average for a first quarter (2011–2020) of €2.7 billion ($3.2 billion). Furthermore, the share of portfolios also declined (down 36 percentage points to 28 percent), along with the proportion of international investors (down 38 percentage points to 35 percent).
“In tandem with the various permutations of the ongoing lockdown, the development on the retail property investment market has also basically persisted in recent quarters,” said Jan Schönherr, co-head of retail investment at CBRE Germany. “Investor appetite for f
