INVESTMENT MARKET HIGHLIGHTS: 2022

• At €1.7 billion, transaction volumes in 2022 were comparable to 2021, posting a 2% increase y-o-y. However, on a closer look, 2022 was a year of two halves. In H1 2022, investment volumes were strong (the strongest since H1 2020) and totalled just over €1.23 billion but the narrative changed in the second half of the year when activity dropped to €470 million.
• Commercial office assets remained the front runner during 2022, garnering nearly half (46%) of the annual investment volume and totalling €789 million. The industrial sector (with €414 million and 24% share) was still holding investment volumes close to pre-Covid levels, being only 13% below its 2017-2019 average, while office was 35% down and retail 60% down. Retail properties accounted for 23% of the total investment volume in 2022 (totalling €395 million).
• Total transaction count saw a significant drop in 2022 as 46 transactions were concluded in the year, 38% less than in 2021 and almost on par with the pandemic year 2020. All but three deals closed during 2022 were smaller transactions, meaning sub €100 million.
• Domestic investors were the dominating buyer group in 2022 acquiring over €923 million worth of assets (54% of total volume). European buyers followed with a share of 27%.

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