Open-ended real estate mutual funds in Germany have experiend net outflows of funds for the ninth time in a row in April, according to Barkow Consulting. The outflow amounted to €481 million, the highest figure in over six years (August 2017). Total outflows now amount to around €2.1 billion.
The report states that cash returns or returns of fund units remained at a very high level in March at €671 million, only slightly below the record level of February 2024.
Gross sales hit €190 million, the lowest level in over 10 years and the fourth lowest level ever. The report indicates the negative trends are accelerating.
Real estate, specifically commercial real estate funds, have struggled in some jurisdictions in recent years due to the advent of greater remote working environments. The question is whether this is a temporary dip or a sign of more economic troubles as global economies wobble.