Phoenix Spree Deutschland - Good H1 growth and return to core strategy
Although rent controls (the ‘Mietendeckel’), ruled unlawful and repealed in April 2021, disrupted the Berlin residential property market, this has not prevented free market rents and condominium prices from increasing further amid a continuing housing shortage. Against this background, H121 results from Phoenix Spree Deutschland (PSD) showed good progress as it resumes its core rent reversion strategy.Phoenix Spree Deutschland is an investment company engaged in acquiring and managing residential property, as well as commercial property in Berlin and other German secondary cities. The majority of commercial property within the portfolio is located within residential and mixed-use properties. Co.'s portfolio mainly consists of classic ‘alt-bau' properties which are buildings built before 1914.
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