The 5 % Study 2023 - where it still pays off to invest
For the 5 % Study 2022, bulwiengesa once again examined the potential returns (IRR) on the German real estate markets.
The most important results:
- Potential refurbishment expense weighs on yields of many existing buildings
- Yields on residential real estate increased only slightly - hardly any protection against inflation in A-markets
- Investments in smaller office markets often uneconomical
- Pricing not yet completed
- Yields for logistics properties well above 4%.
The 5% Study has been offering a compact market overview since 2015 and provides a new approach to describing real estate markets. It examines the performance expectations of the most important asset classes that currently dominate the German investment market:
- Residential
- Office
- Shopping centers and retail parks
- Hotel
- Logistics real estate
- Micro apartments
- Corporate real estate
- Assisted living
Note: The study was presented at different locations and discussed with different experts; a webinar took place on 26.10.2023.
Contact persons:
Sven Carstensen
carstensen@bulwiengesa.de
Tel. +49 30 27 87 68 0
and
Anna Wolfgarten
wolfgarten@bulwiengesa.de
Tel. +49 89 23 23 76 48
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