Berlin, September 20, 2016 – In 2015, 135,052 apartments were sold in major German cities (up 5.0 percent). Sales revenue rose even more sharply to 28.5 billion euros (up 14.6 percent). On average, an apartment changed hands for 211,371 euros (up 9.1 percent). These figures are taken from the latest ACCENTRO Homeownership Report 2016, which analyzes data from appraisal committees for the 82 largest German housing markets. These include five housing markets in the Rhine-Main region: Darmstadt, Frankfurt am Main, Mainz, Offenbach, and Wiesbaden. In the 2015 reporting year, a total of 8,568 condominiums were sold there, 2.1 percent more than in the previous year (8,392 units). Sales revenue grew by 9.7 percent during the same period to a total of 2.4 billion euros (2014: 2.2 billion euros). As a result, the housing markets in the major cities of the Rhine-Main region have established themselves above the two-billion-euro sales threshold, which was first surpassed the previous year. “The very strong annual performance of the condominium markets in the Rhine-Main metropolitan region is primarily driven by the robust growth of the housing markets in Frankfurt am Main, Offenbach, and Mainz,” explains Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG. The number of condominiums sold in Frankfurt am Main rose by 1.8 percent to 4,154 units during the reporting year. In Offenbach (up 20.5 percent to 724 units) and Mainz (up 4.8 percent to 1,348 units), sales figures rose even more significantly.
New Construction Creates Further Potential
With a 9.3 percent increase, sales figures in the segment of newly built condominiums in the major cities of the Rhine-Main region rose about four times faster than overall sales figures. A total of 3,279 newly built condominiums were sold in the five housing markets during the reporting year. Just under two-thirds of the transactions took place in Frankfurt am Main. Here, 2,007 newly built condominiums changed hands during the reporting year (up 8.8 percent). The strongest percentage growth, however, was recorded in Offenbach am Main (up 30.7 percent) and Mainz (up 25.5 percent). “The population of the Frankfurt/Rhine-Main metropolitan area is growing rapidly. Frankfurt’s population alone has grown by nearly 70,000 people over the past five years,” says Mingazzini. “To meet the steadily rising demand for housing, new construction will continue to play a key role in the Rhine-Main region in the future.”
Housing Shortage Fuels Price Growth
The fact that the strong excess demand in the Rhine-Main region is driving up prices is evident not least from the fact that average sales prices per apartment rose by 7.5 percent—more than three times as much as the increase in the number of sales (up 2.1 percent). With sales revenue per apartment sold at 278,688 euros, the Rhine-Main region is slowly but surely approaching the 300,000-euro mark. In Frankfurt, this mark was significantly exceeded for the second consecutive year, reaching 339,769 euros. Offenbach, which, with an average sales price of 208,011 euros, is the most affordable housing market among the major cities in the Rhine-Main region, ranks only in the middle of the pack in a Germany-wide comparison. “Although locations in the Rhine-Main region have continued the positive trend of the previous year, their prices are still significantly below those of the condominium markets in the southern German states,” says Mingazzini. By comparison, in Munich—the city with the highest average sales price—a condominium cost an average of 426,140 euros. “Nevertheless, it is clear that the momentum in the Rhine-Main region is continuing and that condominiums are becoming an increasingly popular investment,” says Mingazzini.
About the ACCENTRO Homeownership Report
This marks the ninth time that ACCENTRO Real Estate AG has published the Homeownership Report. The analysis is based on homeownership transactions during the reporting year in 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.
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 segment of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
Investor Relations Contact:
Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstraße 44/45
10625 Berlin
Email: eisenlohr@accentro.de
Phone: +49 (0)30 88 71 81 272