Property sales volume grows by 155 per cent to more than EUR 116 million
Privatisation with 360 units more than doubled
Berlin, 04 August 2021 – ACCENTRO Real Estate AG, a residential real estate investor and Germany’s leading housing privatisation company, looks back on a very successful first half year 2021 in its housing privatisation business. During the first six months, 360 residential units were sold to tenants, owner-occupiers and buy-to-let investors. The notarised volume of property sales amounted to EUR 116.3 million and exceeded the prior-year figure by an impressive 154.7 % (previous year: EUR 45.6 million). The number of units sold also registered a massive increase by 122.2 % (previous year: 162 units).
Lars Schriewer, CEO of ACCENTRO Real Estate AG, commented: “ACCENTRO shows an outstanding business performance during the first six months 2021. Demand for homes remains as high as ever, and has prompted a visible increase in the anyway brisk sales dynamic during the second quarter.” In the time between April and June, the number of units sold increased by 234.3 % while the volume of notarised property sales gained by 227.0 %.
ACCENTRO is facing the second half year with great confidence and expects no changes in the strong demand for apartments. In addition to all that, the company has a solid balance sheet structure and adequate liquidity. Those represent simultaneously competitive advantages and important prerequisites to keep expanding the real estate portfolio in the months ahead. Lars Schriewer is looking optimistic into the second half of the year: “We intend to enlarge our inventory of privatisation and rental properties significantly. We are aware of quite a number of attractive opportunities in our target markets toward this end.” Just a few weeks ago, ACCENTRO acquired a portfolio of 150 units in North Rhine-Westphalia and thereby expanded its market footprint in major metropolises.
ACCENTRO will publish the figures for the good business performance in the first half year on 31 August 2021.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential property investor and Germany’s market leader in housing privatisations. Its real estate portfolio consisted of around 5,200 units as of 31 December 2020. In addition to Berlin, regional focal points include East German cities and conurbations, as well as the Rhine-Ruhr metro region and Bavaria. The business activity of ACCENTRO comprises four core divisions. These are the tenant-sensitive retailing of apartments to owner-occupiers and private buy-to-let investors, the sale of real estate portfolios to institutional investors, the set-up and management of a proprietary real estate portfolio, and third-party apartment marketing for property asset holders, investors and developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3).
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