Estavis Subsidiary Accentro Reports Banner Year
- Total of 1,137 apartments retailed in the 2012 financial year
- Property sales: 85.3m euros (2011: 66.5m euros)
- Sales share of occupied apartments climbs to 71 percent (2011: 64%)
Accentro, an ESTAVIS AG subsidiary specialising in residential privatisation, topped the highest-ever result of banner year 2011 by another 23% after selling 1,137 apartments in 2012. Property sales amounted to a total of 85.3 million euros (up from 66.5 million euros in 2011). “2012 was the most successful year to date in the annals or our company,” said Jacopo Mingazzini, Managing Director of Accentro GmbH.
The share of foreign buyers remained high in 2012, continuing the previous year’s trend. Altogether 30% of the apartments sold in Berlin were acquired by clients from 40 different countries. This is up from 30 different countries in 2011. The only group with a yet higher share was the local clientele (accounting for 53% of the apartments sold). 71% of the sold apartments were occupied and were acquired as investments (2011: 64%). “Domestic and foreign buyers increasingly consider condominiums as an investment suitable to protect their wealth against inflation and capital market upheavals,” said Mingazzini.
Looking forward, Mingazzini expects to see a robust result in 2013, too. “Berlin’s residential market is in excellent shape. The city’s stable economic and demographic parameters promise continued robust market growth and first-rate opportunities for condominium buyers to enter the market,” the Managing Director added.
Accentro is a real estate service provider that specialises in the retailing of large housing portfolios. The company’s fortes include the socially compatible, tenant-
oriented sales of large apartment holdings, in the exit-oriented asset management of housing portfolios, and in investment consultancy on any issue relating to these segments.
In addition to its headquarters in Berlin, Accentro maintains a branch office in Stuttgart and additional projects offices all over Germany. Accentro is a member company of residential real estate specialist ESTAVIS AG.
ESTAVIS AG is a listed property company focusing on residential properties. Using its purchasing network across Germany, ESTAVIS AG identifies property portfolios with great value-add potential, and exploits its management expertise to harness this potential in efficient ways. In addition to regular cash flow from the property portfolios acquired, the performance of ESTAVIS AG is driven by income from active apartment retailing. ESTAVIS AG is headquartered in Berlin, and is listed on the Prime Standard of the Frankfurt Stock Exchange (German Securities Code Number [WKN]: A0KFKB).
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