Germany steps up to the plate
Transaction volume in Germany increased by 33 percent in the third quarter to €25.5 billion, according to Colliers International Germany, with more than half — €13 billion — of the investment volume targeting six markets: Berlin, Düsseldorf, Frankfurt, Hamburg, Munich and Stuttgart.
“We’re definitely not seeing any signs of a summer slump,” Ignaz Trombello, head of investment at Colliers International Germany, said in a statement. “The ongoing favourable interest rates and continued increase in capital flow used for profitable investment opportunities are both driving factors.”
Munich was the most active transaction market in Germany in the third quarter, and that activity has continued into the fourth quarter, as Norges Bank Investment Management, which invests on behalf of the Norwegian Government Pension Fund Global, acquired a majority share in two office buildings in Munich’s Lenbach Gärten quarter. The transaction valued the property at €1