Phoenix Spree Deutschland H1 condominium sales nearly double as realisation plan advances

Phoenix Spree Deutschland

28/09/2026 07:20

Overview
UK-listed Berlin residential property seller's H1 2026 condominium sales nearly doubled yr/yr
Company completed first compulsory share redemption post-period, returning £17.5 mln to shareholders
Rental income fell yr/yr as portfolio realisation advanced, net asset value per share edged lower

Outlook
Company maintains FY 2026 notarisations target of at least €55 mln, subject to Q4 sales pace
Company reset vacant apartment asking prices in September, averaging 9% below previous levels
Third-quarter sales activity below first-half run rate; further inventory releases under consideration

Result Drivers
CONDOMINIUM SALES - H1 sales nearly doubled yr/yr, with achieved pricing supporting carrying values, per Chairman Robert Hingley
PRICE REDUCTIONS - Co reduced prices on vacant apartments in July and reset asking prices in September to support sales momentum amid tightening financing and affordability conditions
COST MANAGEMENT - Administrative expenses declined 43% yr/yr as recurring costs were reviewed

Company press release: ID:nRSb4528Wa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Rental Income
 
EUR 10.3 mln
 
H1 EPRA NTA Per Share
 
EUR 3.36
 
H1 Net Asset Value Per Share
 
EUR 2.89
 
H1 Pretax Loss
 
EUR 4.10 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)