After the record year of 2019, investment volumes decreased to €785 million, eventually achieving an average level.
HANNOVER AS A PROPERTY LOCATION IS DEMONSTRATING THAT IT HAS THE POTENTIAL TO OVERCOME THIS UNPRECEDENTED CRISIS FOR THE LONG TERM.
The property market in autumn 2021 is without doubt still being impacted by the corona pandemic, which is affecting submarkets to varying degrees. It was already apparent in 2020 that retail, hotel and gastronomy in Hannover would suffer most from the effects of the pandemic restrictions.
After very successful recent years, the onset of the economic crisis triggered by the corona pandemic has resulted in a particularly steep decline. Prior to the corona virus, all submarkets within the industry had been confident and enjoying success.
What will happen in 2022? Hannover has long been seen as a strong property location in Germany. Despite all the difficulties over the past year and a half, the Hannover Region remains an in demand development and investment location. To ensure that this remains the case, the areas of technology, tourism and retail require fresh and exciting input. The location's often cited resilience has been clearly demonstrated in recent months. Hannover as a property location has the potential to overcome the crisis for the long term.
Particularly in these uncertain times, the Property Market Report testifies to the committed and trusting cooperation of Hannover's property sector. It is therefore particularly important that assessing and categorising current developments in the Hannover property market is made on sound data and opinions from regional actors. The report this year has again been able to depend on 22 real estate businesses who have been working together for the past 19 years with the State Capital and the Hannover Region as well as with support from bulwiengesa AG to produce this survey.
Our joint commitment, trust and confidence in Hannover as a location have guided us so far and will help us to successfully master future challenges and to navigate our way out of the crisis.
Head of Business, Transport and Education Department
Prof. Dr.-Ing. Lars Baumann
Head of Personnel, Organisation and Law
State Capital Hannover