Immobilien Zeitung, 26 September 2013 “Privatisation Specialists the Big Winners of the Financial Crisis”
Condominiums are more popular than ever as safe buy-to-let investment or owner-occupied pension scheme with projected appreciation potential, as the Immobilien Zeitung reported. More than others, the market sector of privatisation specialists benefits from the trend, retailing large residential portfolios to private buyers and achieving a sensational rent-to-buy ratio between 25 and 35 percent at the moment.
Accentro, probably the German market leader in the housing privatisation sector, was said to have reported another record for the first semester of 2013. During the first six months of this year, the company sold a total of 461 apartments, 70 percent thereof in Berlin. According to preliminary figures, this represents a year-on-year increase by more than 40 percent, while the result from the condominium sales from the proprietary portfolio was said to have risen by 200 percent. Accentro is the privatisation subsidiary of Estavis AG, seated in Berlin. Accentro reportedly has a stock of around 3,000 flats in 54 locations for sale. While its biggest single client is GSW, Accentro also collaborates with TAG Immobilien and MainWert. It is moreover buying up larger portfolios from insurance companies and privatising them. In 2012, the company sold condominiums to buyers from 40 countries, including Italians, French, and Russians. Buyers from Argentina, Indonesia, Israel and the United States also count among Accentro's clientèle. Tenant-sensitive privatisation is very much en vogue. “The tenant mentality is beginning to shift, even in Berlin,” said Jacopo Mingazzini, member of the board of Estavis and Managing Director of Accentro. The underlying motivation is perfectly plausible: homeownership is considered a safe private investment and a sound pension plan.