The upward trend in the investment market for real estate will continue this year. In Munich, the square in the city is thus becoming increasingly scarce and expensive.
On Thursday 18 January 2011 discussed real estate experts in Munich on the main trends in investment and rental market for office and commercial properties. The end of 2010 set in motion upward trend will continue further this year, is, the experts agree. Given the strong demand for safe investments, remain core real estate - attractive properties with top location and top tenants - remains very expensive. The willingness of market participants remains speculative investments, however small.
key market drivers in the coming years will be the enormous financing needs arising, especially by the end-of-credit from the boom year 2007. Another major trend is the aspect of sustainability, which is also on the user side gaining in importance. After Munich could hardly benefit from good investment in 2010 will, the business this year revive appreciably, experts expect.
Union Investment Real Estate AG will invest in 2001 for their open-ended property fund, a similar volume as last year. 2010 were EUR 1.6 billion invested in the acquisition of 24 properties - with an emphasis on retail properties. It is not short of capital but of attractive properties. "We would invest more, but the search this year will certainly not easier," says Dr. Frank Billand, Managing Director of Union Investment Real Estate Inc.
press in particular by the increased return of foreign investment is a huge demand on the market. Especially for core real estate so that the offer is getting thinner. They all want the same product.. "It will only be traded top properties," says Billand wants to
control more redemptions at any time Union have investment 20 percent of the assets as a cash reserve
a key market drivers, market participants see in the upcoming big refinancing wave . In Europe, some 100 billion euros should be transferred, "estimates Billand. After the usual five-year term now, the major credit packages from 2006 and 2007 extended be. Especially in the times of the real estate bubble in 2007, banks have to digest some hard lumps on their balance sheets. How lightly the proceeds also depends on the resolution of the crisis €. "It will have huge effects on the markets," said Billand looking for.
Many investors, however, find any attractive objects. If now so built speculative? Speculative developments are possible again, but their financial viability remains a sword of Damocles, "says Alexander Möll, Managing Director the project developer Hines real estate Germany. The banks are still always behave, equity investors would have to meet strict conditions. And even the developers themselves see the opportunities still behave contrary. Core properties continue to be important and expensive, "says Möller.
The multi-let real estate investment manager Valad, who has specialized in commercial multi tenant properties provides, considering the many critical portfolios of the banks in 2011 a great year compared to the third party service business. Even last year, Valad has taken over the management of EU funds, as well as that of a Swedish portfolio.
asset management services to banks for us to be an increasingly important pillar, "says Klaus Kortebein, CEO of Valad Germany.
, the rental business will significantly this year gain momentum, says Kortebein. The rental activity is always something behind the economic development and towards the end of this year, by mid 2012, again level off "Now it applies to use the momentum. Valad was already the end of 2010 recorded 160 new leases in Germany soaring dynamics and reduce the vacancy rate significantly.
One of the megatrends in the area of office buildings, will be the topic of sustainability. More and more tenants will link the renewal of the contracts on the evidence of proof of sustainability, eg in the form of a certificate. "With new buildings and refurbishments in the premium segment is already standard in Germany," says Dr. Frank Billand of Union Investment, which makes new acquisitions and rental buildings versions solely in terms of sustainability.
the Munich real estate market, the experts see great potential for this year. After the Bavarian capital could hardly benefit from good investment year, the business will revive in 2011 felt. The trend, however, must go there, not just the inner city but also the adjacent market segments activated. The dance around the core real estate does not work. Who wants to be involved in Munich, must take more risks, "warns Ferdinand Rock, head of the Munich office of Jones Lang LaSalle. A little speculative Investment would do the city good. "
count on the rental market, Jones Lang LaSalle from the year 2010, many unfulfilled requests. We can not meet the dynamics of the market because the area is missing in the inner city, "said Rock. This is also reflected in the prices. The maximum rent will be put on 40 € per square meter per month. The surrounding area also have recovered, but still benefit from the rent increase in the city.
We will this year reach the ten-year average sales area, or even surpass, expected rock. The ten year average is about 630,000 square meters per year. Also, it would return more rentals over 20,000 square meters give. This would be Munich's leading position in the German market before Promoted Berlin allegation.
The most successful market is the west of Munich, along the train line from Central Station to Laim. Successful road is the Landsberger Strasse. In the future, according to Rock but will benefit adjacent neighborhoods as Theresienhöhe, Park City Schwabing, Messe Riem, Rummelsburg and Ostbahnhof of the growing demand. For the purposes of the appeal of the district had here but the mix of residential, retail, hotels and offices will be improved.
Union Investment's managing director Frank Billand sees the apparently similar: "In the European Patent Office will soon turn the cranes." Investors are concerned about security above all. But in Munich, for Union Investment's second most important German market, there is in the inner city to not buy much.
The increased appeal beyond the top layers of felt and Valad Germany. "For now hardly in demand vacancies, there are now some more interested," says Korte leg.
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Source: openPR
