The tax consulting company TPA and CBRE, the world's largest commercial real estate services company, offer an assessment of local real estate markets in the brand-new brochure "Real Estate Investment 2021", which is now available for the fourth time in a row.
The brochure is intended to provide institutional investors with a brief, practical overview for possible investment decisions. It can also serve as a source of ideas for dealing with countries that have not (yet) been part of the investment strategy. The brochure also includes the latest legal information for your real estate investment in Germany, Austria and the countries in the CEE/SEE region.
COVID-19: The potential impact on the international economy is also a challenge for real estate investors in 2021. The current tax relief measures regarding COVID-19 have been taken into account accordingly on a country by country basis.
The real estate investment markets have been relatively stable despite the Coronavirus crisis.
Nevertheless, volumes in the CEE region have also declined. In total, around €14 billion was invested in 2020, which specifically means a decline of around 26% compared to the previous year. As in other European countries, clear differences between the various asset classes were also evident in the CEE region. The sectors residential and logistics were among the clear winners of the crisis, whereas the sectors hotel and retail faced major challenges. The institutional investment volume in Austria amounted to around EUR 3.25 billion in 2020. Compared to the previous year, this represents a decline in the transaction volume of around 48%. The most stable real estate investment market in 2020 was Germany. With an overall transaction volume of a good EUR 79.27bn in 2020, the result fell 5.5% short of the previous year’s figure, but was nevertheless the second best since records began. There is still a great deal of capital and willingness to invest. The huge pressure on many investors to invest and the ultra-low yields of alternative investment options will keep investors keen on the asset class of real estate.