Rent Gradients in Germany’s Metropolitan Commercial Real Estate Markets

Andreas Schulten () and Ulrich Denk ()
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Andreas Schulten: Bulwiengesa
Ulrich Denk: Grossmann-Berger GmbH

Chapter Chapter 8 in European Metropolitan Commercial Real Estate Markets, 2014, pp 197-223 from Springer

Abstract: Abstract In contrast to various other European countries Germany’s commercial markets reflect a polycentric structure. In the global context four out of seven prime office markets are considered as competitive, viz. Berlin, Frankfurt, Hamburg and Munich. Attention is paid to the reasons of its moderate upward potential. On the other side the good performance of the German economy after 2009 significantly contributes to the specific profile of the German office market – a low-risk and low-yield market with long-term investment opportunities. Detailed insights into both office and retail real estate in the four major German markets is offered. The most relevant parameters for both commercial property types are analysed, the background of current market developments is discussed, future trends from both the macroeconomic and regional perspective will be presented. Specific attention is paid to an explanation for the different rental gradients for offices and retail in the four main metropolitan areas. Differences in investment returns between German, French and British office markets are revealed and confronted with investors behaviour. A general outlook for German commercial real estate is the finalizing part of this chapter.

Keywords: Impact polycentric structure; Rent gradient; Investment market (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:adspcp:978-3-642-37852-2_8

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DOI: 10.1007/978-3-642-37852-2_8

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