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German Property Deals Plunge to Lowest Level in Over a Decade

Germany’s commercial real estate deals dropped to a 13-year low during the first quarter as buyers and sellers struggle to adapt to the massive increase in financing costs.

Transaction volumes between January and March were €5.1 billion euros ($5.6 billion), less than half the historic average and the lowest level since 2010, according to a report from BNP Paribas Real Estate. Residential deals also dropped precipitously, the company said in a separate report.