While many European economies remain shaky, Germany just enjoyed its fifth consecutive quarter of growth coupled with its lowest unemployment figures in 20 years, with further growth of 2% predicted for 2011 and 2012.
Though lagging behind the economic upswing, sentiment in the real estate market is improving, and H1 2010 saw a 155% rise in commercial property transactions year-on-year.
Development remains subdued and concentrated on prime locations, requiring more equity and higher pre-occupancy rates. But with the German economy’s superior performance and occupier demand usually lagging behind, a developer with funding might find this the perfect time to start a new project.
And getting the right, timely information is becoming easier. Dr. Thomas Beyerle, Director, Head of Global Research Aberdeen, points out, “Germany has greatly improved the availability and reliability of real estate data in recent years, receiving the highest rating in Jones Lang LaSalle’s 2010 Transparency Index.”