Berlin, 30. September 2019 – The revenues total achieved in the Rhine-Main region, which includes the cities of Frankfurt am Main, Wiesbaden, Mainz, Darmstadt and Offenbach, added up to 2.44 billion euros in 2018. This implies a modest one-year decline of 0.90 percent since 2017 (2.46 billion euros). At the same time, the number of sales transactions also declined slightly. After 7,316 flats sold in 2017, the sales total of 2018 was down to 7,177 units, which equals a 1.9-percent decrease. “What caused the modest drop in turnover was the supply shortage on the homeownership markets in the Rhine-Main region,” explained Jacopo Mingazzini, CEO of ACCENTRO Real Estate AG. These are some of the findings of the new 2019 ACCENTRO Homeownership Report that is based on the analysed data of property valuation committees of the 82 largest housing markets in Germany.
Rise in Condominium Sales in Frankfurt am Main
Sales in Frankfurt am Main showed a modest upward trend. The sales total of 3,556 flats in 2017 rose to 3,619 in 2018. This implies an increase by 1.77 percent year on year. The only other city among Germany’s “Big Seven” cities that also registered an increase was Hamburg, whereas sales in the other cities of this group slowed down. In the Rhine-Main metro region, sales dropped by 1.46 percent from 1,230 to 1,212 units in Wiesbaden and by 8.66 percent from 1,317 to 1,203 units in Mainz. The number of sales also declined in Darmstadt (-7.85 %) and Offenbach (-3.83 %).
Sharp Drop in Sales of New-Build Units in All of the Five Cities
Sales of newly constructed residential units has slowed in all cities of the Rhine-Main metro region. Hardest hit with a drop by 38.21 percent is Darmstadt – only 131 new-build units were sold here in 2018, down from 212 in 2017. Overall, the number of flats that changed hands in 2018 came to 2,164 flats, the majority thereof (1,343 flats) in Frankfurt. This is down from 2,844 units in 2017 (thereof 1,704 in Frankfurt).
About the ACCENTRO Homeownership Report
This year’s edition marks the twelfth time that ACCENTRO Real Estate AG published its Homeownership Report. The analysis is based on residential property sales transacted in all of Germany’s 82 major cities during the reporting year of 2018. A significant distinction that sets the report apart from similar publications, most of which rely on expert appraisals or on analyses of supply-side data, is that it draws on the data of the cities’ property valuation committees.
Detailed findings of the ACCENTRO Homeownership Report on Germany’s ten most populous cities and the trends of the past eleven years are also available online in the ACCENTRO database, and can be retrieved in the form of selective drilldowns: www.accentro.ag/publikationen/wohneigentumsreport/
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is Germany’s market leader in housing privatisations. In addition to its home market of Berlin, the company focuses on auspicious metro regions such as Hamburg, Rhine-Ruhr, Rhine-Main and Leipzig. In its Privatisation business unit, ACCENTRO retails condominiums from its proprietary portfolio to owner-occupiers and buy-to-let investors or—bundled into portfolios—to institutional investors. In its Services & Ventures business unit, ACCENTRO sells apartments on behalf of investors and property developers—including through equity investments in its own right within the framework of joint ventures. ACCENTRO Real Estate AG is listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3).
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