
THE
ENTIRE
STUDY

“For the first time ever the Third Off-Market Study examines precisely which asset classes investors are focusing on and which actors shape the off-market segment here in Germany. In this respect it was seen that office real estate dominates the market to a greater extent than initially assumed by large swathes of the industry. In addition, the study shows that it is above all domestic capital and professional investor groups which are active off-market”
John Amram
founder and managing director, HPBA
The most important points from the 3rd HPBA Off-Market Study
01 Participants
Professional and institutional actors dominate the off-market segment.


02 share of off-market transactions purchase
The majority of all the investors are still involved in off-market purchases.
03 share of off-market transactions sales
Some actors continue to be hesitant about selling their properties off-market. Yet one out of ten exclusively sells off-market.


04 Price delta
The possible price increase or decrease for off-market transactions is large.
05 existing properties purchases
With regard to existing properties, office real estate is the most important asset class on the transaction markets.


06 existing properties sales
With regard to existing properties, office real estate is the most important asset class on the transaction markets.
07 project developments purchases
In the case of project developments (forward deals), residential real estate dominates the off-market segment.


08 project developments sales
In the case of project developments (forward deals), residential real estate dominates the off-market segment.
09 off-market transactions
The respondents expect significant growth in the off-market segment.


10 on-market transactions
Downturns are expected for on-market transactions.
11 transaction success – part 1
The proportion of respondents with a one hundred per cent success rate off-market is twice as high as on-market.


12 transaction success – part 2
On average, more than every second off-market transaction is successful.
13 joint ventures and distress sales
A moderate increase in distress sales seems likely.

01 Participants
Professional and institutional actors dominate the off-market segment.

02 share of off-market transactions purchase
The majority of all the investors are still involved in off-market purchases.

03 share of off-market transactions sales
Some actors continue to be hesitant about selling their properties off-market. Yet one out of ten exclusively sells off-market.

04 Price delta
The possible price increase or decrease for off-market transactions is large.

05 existing properties purchases
With regard to existing properties, office real estate is the most important asset class on the transaction markets.

06 existing properties sales
With regard to existing properties, office real estate is the most important asset class on the transaction markets.

07 project developments purchases
In the case of project developments (forward deals), residential real estate dominates the off-market segment.

08 project developments sales
In the case of project developments (forward deals), residential real estate dominates the off-market segment.

09 off-market transactions
The respondents expect significant growth in the off-market segment.

10 on-market transactions
Downturns are expected for on-market transactions.

11 transaction success – part 1
The proportion of respondents with a one hundred per cent success rate off-market is twice as high as on-market.

12 transaction success – part 2
On average, more than every second off-market transaction is successful.

13 joint ventures and distress sales
A moderate increase in distress sales seems likely.

The key information on the panel
14 assets under management


15 primary capital sources
14 assets under management

15 primary capital sources

The full study is
to be found here
The graphics in their entirety
are to be found here
Do you have any
questions or suggestions?
We look forward to hearing from you.
The full study is
to be found here
The graphics in their entirety
are to be found here
Do you have any
questions or suggestions?
We look forward to hearing from you.