Fürth, 23.09.2024 - The property developer P&P Group sold six apartment buildings in the cities of Nuremberg (four properties) and Fürth (two properties) in the third quarter of 2024 alone. The new owners of the properties with a total of 60 apartments and around 3,800 square meters of living space are various private investors and family offices. The total proceeds from the sale amounted to over 8 million euros.
“Despite the challenging economic conditions, 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 buildings. This makes for a particularly good result in the current quarter,” explains Christoph Langfritz, CIO of the P&P Group: ”Naturally, investors are currently looking very closely at the location and quality of the projects. 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 center, 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 buildings. “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 neighborhoods with previously undervalued properties.”
Contact person for media:
Manuel Fogadic
Isaak-Loewi-Straße 124
90763 Fürth
Phone: +49 (0)911 – 76606145
Mail: m.fogadic@pp-group.com
Wolfgang Ludwig
Mathias-Brüggen-Straße 124
50829 Cologne
Phone: +49 (0)221 – 292 19 282
Mail: mail@ludwig-km.de