2022 Preliminary Figures
February 20, 2023
February 9, 2023
Hamburg Commercial Bank AG (HCOB) published its preliminary business figures for 2022 on Thursday, reporting a strong preliminary group net result after taxes of EUR 425 (previous year: 351) million.
read moreJanuary 25, 2023
The lengthy real estate boom of the past twelve years is over– both in Hamburg and in the rest of Germany. Rising interest rate levels, high inflation rates, disrupted supply chains and tightening sustainability requirements represent tremendous challenges for the real estate industry. Many market players are uneasy, with investors showing a growing risk aversion while lenders act more cautiously. But Hamburg’s office market is in a robust condition nevertheless. Stable prime rents, a high take-up and low vacancy rates reflect the persistently high appeal of the office market in Germany’s leading port city. On the residential market, by contrast, the persistent housing shortage is driving up rents, while changed terms of financing have resulted in asking price discounts. These are the main takeaways of a press conference headlined “Hamburg’s Real Estate Market – Outlook for 2023” that was attended by Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank, Jörn Stobbe, CEO of Becken Holding GmbH, and Sascha Hanekopf, Regional Manager Hamburg at Colliers. Real Estate Lenders More Cautious – ESG
read moreJanuary 17, 2023
Hamburg Commercial Bank (HCOB) is providing financing of EUR 160 million to International Campus Group for the purchase of five student residences with a total of 1,870 apartments.
read moreFebruary 27, 2023
Recession blown off, interest rate fears rise
We have adjusted our forecast for global growth in 2023 upward to 2.9% (previously: 2.3%), mainly due to the opening up of China following the end of the zero-covid policy, as well as better economic data from the USA (2023: +1.4%) and the euro zone (2023: 0.4%). In this environment, however, it will be even more difficult for central banks to reduce inflation.
Market report (german) ( PDF, 1.97 MB )February 23, 2023
Inflation: You can’t have your cake and eat it, too
Optimism that inflation would soon fall significantly and allow interest rates to be cut is giving way to the realization that things may well turn out quite differently. This skepticism is justified.
Market report (german) ( PDF, 937 kB )February 16, 2023
BoJ with a new governor
The Japanese government officially nominates Kazuo Ueda as successor to outgoing Bank of Japan Governor Haruhiko Kuroda, who steered the central bank's fortunes for 10 years with an unprecedentedly expansionary monetary policy. A departure from this policy, however, will depend less on the person and more on the inflation trend.
Market report (german) ( PDF, 505 kB )February 9, 2023
The race for subsidies
Green is the future, and it is paved with potential for conflict. One example is the current transatlantic dispute over subsidies for climate-neutral technologies.
Market report (german) ( PDF, 274 kB )
