German residential volumes to reach €12b in 2013 - Savills

Residential property investment volumes in Germany should hit €12 bn in 2013, international real estate adviser Savills has predicted.

The volume for 2012 was just under €10.5 bn.

In the third quarter of 2013, 60 residential portfolios representing a total volume of €2.9 bn changed ownership, bringing the total for the first nine months of 2013 to €8.8 bn. This, the firm highlights, represents a 14% increase compared with the same period in 2012.

Karsten Nemecek, managing director corporate finance - valuation at Savills Germany, said: 'Uncertainty prior to the Bundestag elections and debates on a potential interest rate turnaround had no noticeable effect on the demand for residential properties in Germany. Investors continue to be in a buying mood.'

On the buy side, German players accounted for almost three quarters of the total transaction volume in the first three quarters of 2013 according to Savills research. The remaining share was almost fully attributable to European buyers with investors from Austria (7%), Luxembourg (6%) and Switzerland (5%) being the most active.