Bonava divests three rental housing projects in Germany

European residential developer Bonava has sold three rental housing projects in Germany (Berlin, Hamburg, and Leipzig), totalling 299 apartments for €96 mln.

Bonava Nacka Tollare

The buyers are a mix of residential property companies and institutional investors, who will finance the projects with payments made during construction. The first apartments are expected to be completed by the end of 2027.
The German rental market is experiencing strong growth, particularly in major cities, with increasing rents and low vacancy rates. Bonava is addressing the significant shortage of affordable rental housing by ensuring that about half of the new apartments will be subsidised and accessibility-adapted. All projects emphasise sustainability, green spaces, and convenient public transport links. 
Berlin is Bonava's primary market in Germany, while Leipzig is noted for its growth potential, and Hamburg is a key market where Bonava has extensive development experience.
Rico Kallies, Business Unit president, Bonava Germany, said: “The investor segment is a strategically important part of our business and a market that has been challenging in recent years. Therefore, we are particularly pleased to have completed sales of three different projects – to three different investors and across several key submarkets.”
Besides Germany, Bonava also develops residential housing in Sweden, Finland, Latvia, Estonia and Lithuania, where it has built about 40,000 homes.