Berlin, September 30, 2019 – In the Rhine-Main region, which includes the cities of Frankfurt am Main, Wiesbaden, Mainz, Darmstadt, and Offenbach, total revenue of 2.44 billion euros was generated in 2018. This represents a slight decline of 0.90 percent compared to 2017 (2.46 billion). Sales also declined slightly. While 7,316 apartments were sold in 2017, the figure for 2018 was 7,177 units. This corresponds to a decline of 1.90 percent. “The shortage of supply in the residential property markets in the Rhine-Main region is causing a slight decline in revenue,” explains Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG. The results are taken from the latest ACCENTRO Residential Property Report 2019, which analyzed data from the appraisal committees for the 82 largest German housing markets.
Number of Apartments Sold in Frankfurt Rises
In Frankfurt am Main, sales rose slightly. In 2017, 3,556 apartments were sold; in 2018, the figure was 3,619. This represents an increase of 1.77 percent compared to the previous year. Only one city (Hamburg) among the top seven cities also recorded an increase; otherwise, sales within this group also declined. In Wiesbaden, sales fell by 1.46 percent, from 1,230 to 1,212. In Mainz, sales dropped by 8.66 percent, from 1,317 to 1,203. The number of sales also declined in Darmstadt (-7.85%) and Offenbach (-3.83%).
Sales of new homes fell sharply in all five cities
Sales of new homes declined in all major cities in the Rhine-Main region. Darmstadt was hardest hit, with a 38.21 percent decline—212 new homes were sold there in 2017, compared to 131 in 2018. A total of 2,164 apartments were handed over to new owners in 2018, the majority of which (1,343) were in Frankfurt. In 2017, the figure was 2,844 residential units (1,704 of which were in Frankfurt).
About the ACCENTRO Homeownership Report
ACCENTRO Real Estate AG has now published its Homeownership Report for the twelfth time. The analysis is based on homeownership transactions from the 2018 reporting year across all 82 major German cities. By drawing on data from appraisal committees, the report differs significantly from similar publications, which are usually based on expert estimates or the analysis of listing data.
Detailed results from the ACCENTRO Homeownership Report on Germany’s ten most populous cities and trends over the past eleven years are also available online in the ACCENTRO database and can be filtered individually.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in residential privatization in Germany. As of December 31, 2020, its real estate portfolio comprised approximately 5,200 units. In addition to Berlin, its regional focus includes major East German cities and metropolitan areas, as well as the Rhine-Ruhr metropolitan region and Bavaria. ACCENTRO’s business activities encompass four core areas. These include the tenant-oriented sale of apartments to owner-occupiers and private investors, the sale of real estate portfolios to institutional investors, the development and management of its own real estate portfolio, and the marketing of apartments for property owners, investors, and project developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
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