Investment market

Compared to the seven A-rated cities, the investment market of the Ruhr metropolitan area is positioned in mid-field again in the year 2022. It is listed behind Düsseldorf and Munich when it comes to transaction volume, but it is clearly ahead of Cologne and Stuttgart this time. In a segment-specific analysis of the commercial investment volume, a few shifts compared to 2021 can be seen so far. While the mixed category of “other” (land purchases, nursing home properties, hotels, recreation, etc.) contributed the highest share to sales for the first time, logistics properties are at the top, narrowly ahead of offices in the first half-year. A forecast regarding the investment activities in the second half-year is currently not possible. Along with risen financing costs and the announced tightening of the monetary policy by the ECB, the transaction volume declined in the second quarter to 365 million euros after 772 million euros in the first quarter. The investment market did not come to a halt by this, but the uncertainty and restraint on the side of investors can be noticed nonetheless. Quotes for purchase prices continue to be made. However, the prices wanted on the buyer and seller side diverge too much. A number of deals have therefore not seen a closing. Thus, there is too little market-based evidence available to arrive at an assessment of the price development. Price discounts, however, are realistic in a permanently modified financing environment. A lot will depend on how quickly buyer and seller can agree again on a shared basis for finding an acceptable price for both sides.