Phoenix Spree Deutschland property portfolio value rises by 44%
Source - SMW
Phoenix Spree Deutschland said the value of its property portfolio had increased by around 44% in 2017 to €609.3m.
This increase was driven by the continued strength of demand in the Berlin residential market, given the significant undersupply of available rental property and decreasing vacancy rate, the company said.
This led to very strong market conditions and corresponding further yield compression, it added.
At 8:29am: (LON:PSDL) Phoenix Spree Deutschland share price was +8p at 384p