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Issuer: P&P Group
/ Key word(s): Real Estate/Disposal
Fürth (Germany), 23.09.2024 – The German project developer P&P Group sold six apartment blocks in the cities of Nuremberg (four properties) and Fürth (two properties) in the third quarter of 2024 alone. The new owners of the properties in Bavaria with a total of 60 flats and around 3,800 square metres of living space are various private investors and family offices. The proceeds from the sale of these properties totalled over EUR 8 million. ‘Despite the challenging economic conditions in Germany, demand is increasing significantly. We are now seeing this positive overall trend in the metropolitan region not only in our condominiums, but also in our apartment blocks. This makes for a particularly good result in the current quarter,’ explains Christoph Langfritz, CIO of the P&P Group: ’Naturally, investors are currently scrutinising the location and quality of the projects particularly closely. As these factors are fundamentally present in our properties for sale, there were several interested parties for each of the six properties.’ All of the properties combined good connections to the city centre, public transport and private transport, which is always an important prerequisite for good demand for residential space. ‘In addition to these positive property features, buyers are also looking for potential for value appreciation, which has been consistently fulfilled in the properties sold,’ explains Langfritz. The P&P Group sees its strategy confirmed in both condominiums and, as in this case, apartment blocks. ‘We develop existing properties and plots in urban areas with potential and then sell them to end investors,’ explains Langfritz: ’The fact that this works so well is due to our good knowledge of the market and the early identification of up-and-coming neighbourhoods with previously undervalued properties.’ About the P&P Group:
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