Phoenix Spree Deutschland - One city but two tales

Phoenix Spree Deutschland's (PSD's) trading update contrasts the strength of the Berlin private rental sector, reflected in PSD's increased rents and low occupancy, with the subdued investment market, which continues to weigh on property valuations. Positively, sales of individual condominiums picked up in H223, underlining the strong premium to rental values. Full year results, to 31 December 2023, are due in late April.

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