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14 February 2012
Stockholm
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22 February 2012
London
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03-04 May 2012
Vienna, Austria
Germany's Colonia unlikely to depreciate housing this year after 8% in 2008
Germany's listed Colonia Real Estate sees little likelihood that it will have to make further depreciations on its residential property portfolio in 2009 after it devalued housing assets by just under 8% across the board in 2008, says its CEO Stephan Rind. He told a conference recently that long-term multiples for German residential property are somewhere between 11.2 and 12.5 annual earnings, and that both the demand and the supply picture this year should mean at least stability. "From our point of view, there is likely to be no negative revaluation on the residential portfolio this year at least. I think we have reached a stable level," he said.