With a first-quarter investment volume of around 763 m €, the Berlin market fell well short of its record prior-year performance. Single deals, though, once again produced an outstanding result that exactly matched the 2015 figure and was nearly one-third higher than the long-term average. Overall, Berlin commercial property attracted about 540 m € less in the first three months than in the same period last year (-41 %), something due entirely to the shortage of large portfolio transactions. Such deals, included on a pro rata basis, accordingly made only a very minor contribution to turnover in the first three months, with just 1 % as against 42 % last year. It must also be borne in mind that Berlin enjoyed an extremely buoyant fourth quarter in 2015, with investment totalling over 3.5 bn € and a great many sales being finalised just before the end of the year.
Source : BNP Paribas Real Estate