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Grenzüberschreitende Immobilien-Transaktionen: Umfang, Trends und Determinanten

Author

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  • Schmitz, Matthias
  • Voigtlänger, Michael

Abstract

Der Immobilienmarkt wurde in den letzten Jahren internationaler. Zunehmend versuchen institutionelle Investoren und wohlhabende Privatpersonen über ausländische Immobilienanlagen Rendite- und Diversifikationsvorteile zu realisieren. Einen besonderen Anstieg der Investitionen in Deutschland gab es in den Jahren 2005 und 2006. Seitdem bleibt der Grundbesitz in ausländischem Eigentum nahezu konstant. Deutsche Investoren haben ihren ausländischen Grundbesitz hingegen kontinuierlich auf einen Wert von nunmehr 147 Milliarden Euro vergrößert. Wesentliche Determinanten für diese Entwicklung sind die Wertsteigerungen im Ausland und die geringe Korrelation der Auslandsmärkte mit dem hiesigen Markt. Aufgrund der besonderen Marktsituation Deutschlands ist daher mit einem neuerlichen Anstieg der Transaktionen in Deutschland zu rechnen.

Suggested Citation

  • Schmitz, Matthias & Voigtlänger, Michael, 2012. "Grenzüberschreitende Immobilien-Transaktionen: Umfang, Trends und Determinanten," IW-Trends – Vierteljahresschrift zur empirischen Wirtschaftsforschung, Institut der deutschen Wirtschaft (IW) / German Economic Institute, vol. 39(4), pages 75-87.
    • Handle: RePEc:zbw:iwktre:157066
    DOI: 10.2373/1864-810X.12-04-05
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    More about this item

    Keywords

    Immobilienmarkt; Auslandsinvestitionen; Investitionsmotive;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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