The actors on the real estate market appreciate trading out of the public eye, writes Börsen-Zeitung on the results of the second HPBA Off-Market Study, which was published in 2019. One year ago there was criticism of what was at that time the first study and its estimation of the off-market transaction volume of approx. 40 billion euros. The latest estimate exceeds the figure from 2017, however – for 2018 the estimated transaction volume was approx. 40 to 70 billion euros, as revealed by the Off-Market Study. In addition, the study defined off-market transactions in more concrete terms. In accordance with the results of the study, other factors that clearly speak in favour of off-market transactions are the greater execution certainty, the improved matching and the discrete processing.