Real Estate Investments in Germany

Author: Michael Mütze
Publisher: Springer Science & Business Media
ISBN: 3642191002
Format: PDF
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The real estate market in Germany has recovered remarkably well from 2008/09 crisis. Portfolio transactions, infrastructure projects as well as investments in commercial and residential real estate are on the rise. This publication provides investors, property developers and advisers with a practical guideline to the legal, tax and commercial framework for real estate investments in Germany.

Understanding German Real Estate Markets

Author: Tobias Just
Publisher: Springer
ISBN: 3319320319
Format: PDF, ePub
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In this book, experts discuss how German real estate values have remained stable throughout the financial crisis, even though transaction volumes have been very volatile since 2005. Consequently, risk-averse national and international investors have started to invest in virtually all German real estate asset classes. This book tries to answer what has made the German real estate markets more resilient to shocks than many European real estate markets by analyzing the economic, regulatory and demographic environment. In 30 well-structured chapters, experts from both the academic and professional world analyze structural and current issues of German real estate markets. Readers will get a deep understanding of what makes the German real estate market special and where potential opportunities and threats in Europe’s largest real estate market exist.

German commercial Real Estate funds in Sweden

Author: Carolin Dörr
Publisher: GRIN Verlag
ISBN: 3640098633
Format: PDF, Mobi
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Master's Thesis from the year 2008 in the subject Business economics - Business Management, Corporate Governance, grade: 1, Royal Insitute of Technology (KTH) Stockholm (Division of Buildings and Real Estate Economics), 80 entries in the bibliography, language: English, abstract: This Master Thesis has the aim to identify the investment patterns of German commercial real estate funds in Sweden. Questions of “when”, “how” and “why” they entered the Swedish market are answered. Also the local distribution of these investments is taken into consideration. The motives why they had and still have chosen the Swedish market are explained and compared with several former research papers about foreign investment motives. 19 interviews have been made with German real estate funds as well as Swedish advisor companies in order to answer these questions. The interviews with German funds have shown that they face several problems due to the German Investment Act. The main difficulties are the prohibition of the double layer structure, hierarchy problems and strict regulations concerning investment rules. Thus German funds were limited in their ability to make decisions. But the German Investment Act will change and liberalize the German funds. Thus real estate funds will have the possibility to compete with other investors for projects, which they could not do before. German funds entered the market, because it promised to be a growing and stable market. At the time when German funds entered Sweden, the real estate situation and economic position was better compared with the German business and real estate cycles. The funds were mainly driven by diversification and the high liquidity in Germany. Official statistics showed that diversified international portfolios performed better than national ones. Another point in the investigation is the development of the interest rate in Sweden. Forecasts predict an increasing interest rate and so highly leveraged investors are likely to leave the market. German funds instead can be 100% equity financed and so will win more market share in the next years.

Return Patterns of German Open End Real Estate Funds

Author: Sebastian Michael Gläsner
Publisher: Peter Lang
ISBN: 9783631604069
Format: PDF, ePub, Mobi
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The aim of this study is to better understand stable capital growth of German properties and to contribute to the explanation of stable fund returns. In the course of the investigation, evidence is found that both phenomena are interrelated. All analyses are based on publicly available data; therefore they are not limited by client interests. Results show three different pieces of evidence on return smoothing, namely the influence on valuation, the timing of valuations, and the influence on returns resulting in return differences by calendar months. Together with the notion of internationally uniquely stable returns, it seems impossible to extract true asset volatility from the observed appraisal-based time series.

Core Real Estate Investments in times of crisis Exemplified by the Frankfurt and London office market

Author: David A. Pieper
Publisher: Anchor Academic Publishing (aap_verlag)
ISBN: 3954895056
Format: PDF, ePub, Mobi
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Currently, the crisis situation is driving the real estate markets around the world. Mainly in focus are so called ,core’ real estate investments: the most stable, nicest looking, most rented out and most ideally located investments. With these investments, investors intend to eliminate almost all risks. But are they really able to do so? This book takes a closer look at the asset class and investment strategy ,core’ and tries to promote a clearer understanding of what ,core’ really is and what requirements this investment category has to fulfill. Furthermore, a new detention has been developed to narrow down a globally working detention throughout all asset types but mainly focusing on offices exemplified by the London and Frankfurt commercial real estate market. In further chapters, risks around the ,core’ strategy are analyzed, and the current and past crisis situation's connection with these investments is discussed. This work is intended to help all real estate professionals, such as investors, fund managers, financial experts and all professionals having to do with major ,core’ real estate investments around the world who would like to get a clearer and more precise comprehension of the matter.

Taxation of Real Estate Investment Trusts REITs in the United States and of their German Shareholders

Author: Katja Schlemmbach
Publisher: GRIN Verlag
ISBN: 3869436492
Format: PDF, Docs
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Bachelor Thesis from the year 2008 in the subject Business economics - Accounting and Taxes, grade: 1.3, Wiesbaden University of Applied Sciences, language: English, abstract: Die Arbeit beschäftigt sich mit den besonderen Vorschriften des US-Steuerrechts für REITs. Außerdem werden das deutsch-amerikanische DBA und Provisionen des dt. Steuerrechts für Anleger des US-REITs betrachtet. - This thesis treats the provisions of the US tax lax concerning REITs and the provisions of the DTA and the US and the german tax law regarding the shareholders of those REITs.