Chart of the Month

Chart of the Month
06.04.2021 Author/s: Sven Carstensen and Anna Wolfgarten

April: Risks Widen Yield Spread for Shopping Centres

Shopping centres as lively meeting places from which all players derive economic benefit. But this image had already cracked before the pandemic. The uncertainty is not only great among tenants and landlords, but also among investors. For the 5% study, which will be published on 22 April, we have forecast the returns of shopping centres
Chart of the Month
03.03.2021 Author/s: Dierk Freitag

March: Empty cities, full beaches

In view of the uncertain situation, some hotel projects are currently being discarded. Banks have also become much more cautious with their commitments, and operators are focusing on already signed projects for the time being. But the situation varies from region to region, as a look at the number of overnight stays shows
Chart of the Month
01.02.2021 Author/s: André Adami

February: Purchase prices versus rents - the historical gap

The development of purchase prices and rents for apartments is causing a lot of discussion and social explosives. bulwiengesa analyzes 125 German cities since 1990. The graphs show: For a long time, condominiums were real slow sellers. Why did that change?
Chart of the Month
04.01.2021 Author/s: Sven Carstensen

January: Tangible factors determine office property market

The pandemic will have an impact on the office market – but how? Discussions often focus on the topic of home offices and the change of workplace concepts. But other factors weigh heavier
Chart of the Month
01.12.2020 Author/s: André Adami

December: No break in the rental trend

For the next few years, we are forecasting continuously rising rents for newly built flats in all four city categories. The rental housing segment has become even more attractive for investors in the past six months
Chart of the Month
03.11.2020 Author/s: Felix Schrader

November: Severe Setback for Real Estate Climate

Uncertainties regarding the further economic development are great. This is also visible in the Real Estate Climate, which has again plummeted. However, the individual segments can by no means be lumped together: While the residential climate still has a positive sign, the hotel climate is sinking to a new low
Chart of the Month
02.10.2020 Author/s: Dierk Freitag

October: Holiday Hotel Industry Gains Attention

The lockdown brought tourism in Germany, as everywhere else in the world, almost to a complete standstill. Since then, the number of overnight stays has collapsed, in some cases by more than 90 percent in major German cities. The fact that the figures are not even worse overall is due to the vacation hotel industry. Developers and investors have long been thinking about new projects
Chart of the Month
01.09.2020 Author/s: Oliver Rohr

September: Office Market in Search of Orientation

The uncertainties of the first half of the year are depressing office space turnover in the class A cities. The spread of the home office and a possible loss of jobs with possibly lower space requirements in the long term are unsettling many players. However, current signals already point to a certain recovery in market conditions
Chart of the Month
10.08.2020 Author/s: Dr. Maximilian Schlachter

August: Surcharges for balcony and elevator - almost everywhere

How do certain apartment characteristics affect the purchase price and rent? This question is relevant for many market participants such as project developers, portfolio owners and property valuers. It can be answered with the help of statistical tools and a corresponding data basis. The results are by no means consistent in the class A cities
Chart of the Month
01.07.2020 Author/s: Patrik Völtz

July: Top Logistics Rents Rise for Years

Breaking supply chains have a direct impact on production processes and thus on the entire global economy, as the corona crisis illustrates. However, logistics real estate is not only needed for stranded goods. Our current forecast shows: Top rents will continue to rise in the coming years - by up to eight percent in prime locations
Chart of the Month
02.06.2020 Author/s: Robin Cunningham and André Adami

June: Hardly any impact on condominium prices

In the two previous year's forecasts, we were already assuming continuously falling growth rates, which should lead to an end to the real estate boom and a slow reduction in the sometimes high valuations. In a real estate market in a state of shock, the current forecast shows that in the residential segment, purchase prices and rents will decline only slightly by comparison
Chart of the Month
07.05.2020 Author/s: Dr. Joseph Frechen, Felix Schrader

Declining Turnover Even Before the Corona Crisis

Part of the turnover of the stationary retail trade, which was lost to online trade during the shutdown phase, remains permanently lost. This means that the pre-Corona turnover level will probably no longer be reached
Chart of the Month
01.04.2020 Author/s: Ellen Heinrich

April: Residential Project Developers Bid Farewell to Class A Cities

The Project Developer Study 2020 shows: for the first time, residential property developments in the seven class A cities are declining. At the same time, growth in commercial real estate has also been significantly dampened
Chart of the Month
04.03.2020 Author/s: Andreas Wiegner, Oliver Rohr

March: Office Boom in A-cities Continues

In 2019, the volume for office investments will total almost EUR 40 billion. This is the highest value ever documented. More than ever, the majority of these investments are in class A cities. There are several reasons for this popularity
Chart of the Month
03.02.2020 Author/s: Dr. Heike Piasecki

February: Housing Stock too Old for the Elderly

Germany’s housing stock is not prepared for elderly dwellers – with barely 2.4 percent of the residential accommodation being disability-friendly. Accordingly, there is an urgent need for action. By converse argument, this represents quite an opportunity for providers of senior-living accommodation
Chart of the Month
03.12.2019 Author/s: Felix Embacher and Oliver Rohr

December: Let’s Go to Essen!

What do you know about the city of Essen? For us, it is one of the most interesting tier-two locations in Germany – and not just because this is where we will open our fifth branch next February! Its office market is the most important one in the Ruhr, and the parameters for property developers are sound. Rents and prices on the housing market have seen substantial growth since 2012
Chart of the Month
01.11.2019 Author/s: Tobias Kassner

November: A Look at Germany’s Logistics Regions

The shortage in available land plots in some logistics regions is causing the keen demand for space to go unmet. Our new mathematical model captures the regional demand across Germany – arriving at an annual total of 6.5 million square metres. The good news being: There are alternatives on the peripheries.
Chart of the Month
01.10.2019 Author/s: Andreas Schulten

October: New Trend – More and More Investor Developers

Germany’s market for property developments is seriously in flux. For classic trader developers, it is becoming ever more difficult to build, especially when it comes to residential development. Could this be an opportunity for investor developers?
Chart of the Month
02.09.2019 Author/s: Sven Carstensen and Robin Cunningham

September: Price-to-Rent Multiples for Multi-Unit Dwellings Reach Peak

Profitable investments in existing residential real estate keeps getting more demanding in the markets of German A- and B-Class cities. In the Class A markets, yield rates have long dropped below 3 %. For the time being, the rise in price-to-rent multiples continues, suggesting a further rise in purchase prices compared to rents. But the curve might soon start to level out
Chart of the Month
01.08.2019 Author/s: bulwiengesa

August: Shifting Sentiment in the Real Estate Industry

Deutsche Hypo’s Real Estate Climate declined for the fifth consecutive time. Political uncertainties are worrying interviewed real estate experts. The decline of the Investment Climate was particularly rapid, but Hotel Climate and Logistics Climate also suffered serious setbacks. Only one segment bucked the trend.