The Cologne investment market got off to a slow start in 2021 with a transaction volume of €235 million. Compared to the previous year, this represents a decline of 51% (Q1 2020: €480 million). In the first three months of the year, only two deals with a volume of over €50 million were recorded.
The absence of large deals in the high double-digit or triple-digit million range led to this weak quarterly result for the commercial real estate investment market in Cologne, according to Florian Langer, head of the investment department at Larbig & Mortag. The low proportion of transactions involving purely office assets was striking. This asset class traditionally accounts for a high proportion of the total volume.
Nevertheless, there are many indications that the current and pending transaction processes will be able to compensate for the weak results of the first quarter. Purchase prices for office properties remained stable in the first few months. Interest in logistics real estate remains high. However, according to Markus Larbig, the high demand continues to be met by virtually empty shelves at investment brokers.
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