Real Estate
German Commercial Property Deals Tumble 50% to Five-Year Low
- First-half sales drop to €14.9 billion on market turmoil
- Transactions were about two-thirds below the five-year average
Commercial and residential buildings in Berlin.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Germany’s market for commercial real estate plunged to the lowest level since at least 2017 in the latest sign of the turmoil triggered by soaring interest rates.
Deal volumes in the first half of 2023 declined 50% from the previous six months to €14.9 billion ($16.2 billion), according to data provided by real estate firm JLL. The figure was about two-thirds below the average over the past five years.