Real estate in Germany – resi market during corona

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Real estate in Germany – resi market during corona

Posted by Tanya Yujelevski on 30/03/2020
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Resi Market | Sweet Home

The resi market is still full of life and deals, but they may take longer due to the circumstances. In case you are interested in investing in Dubai real estate, then feel free to connect with Dubai real estate professionals. For more details, visit our website!

Germany real estate Resi Market in light of the Corona

Germany’s residential real estate market continues to be buoyant even in the shadow of the COVID-19 virus, but transactions are slower

The market is still full of life and deals, but they may take longer due to the circumstances. This is caused by operational problems – for example, not all banks have an infrastructure that allows its employees to work from home. Demand for residential real estate remains high and many are looking for properties.

Many signs indicate that “business is as usual” in German real estate. JLL company will sell a portfolio of eight properties in Berlin (“Portfolio Acht”). The assets cover 140,000 square meters and consist of 2,000 units. Revenue can be about € 13 million a year.

Earlier this month, German investor Deutsche Asset One bought about 715 properties for both residential and commercial use with a total cost of 300 million euros. And further plan to invest an additional 500 million euros in residential real estate in Germany. “We choose a long-term and sustainable strategy with all our assets”. This is said Thilo von Stechow, a managing partner in Deutsche Asset One. “Careful care of tenants and maintenance of high-quality property throughout the city are becoming increasingly important aspects of residential transactions.”

This month, BF.direkt also brokered a funding of around € 35 million to build a residential complex in the Berlin-Brandenburg area. In addition to the bank loan, the investor also receives KfW financing. Once completed, the project will include about 200 housing units across 20,000 square meters. The project also includes underground parking facilities and a supermarket. Completion is for fall 2021.

The level of impact of the current situation with the Corona virus on the German real estate market is not yet clear. The federal government is investing significant sums of money to stabilize the German economy. And real estate investors seem to trust it enough to make large-scale deals even in these days of uncertainty.

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