Phoenix Spree Deutschland portfolio value rises 6% amid Berlin rental shortage

Berlin residential property investor Phoenix Spree Deutschland said the value of its portfolio rose 14% in calendar 2018, excluding the impact of acquisitions and disposals.

The total portfolio was valued at €645.7m by Jones Lang LaSalle, a rise of 6% on-year, reflecting the impact of non-Berlin disposals.

The company said it had continued to benefit from strong market fundamentals in the German capital, underpinned by a significant undersupply of rental property

At 9:05am: (LON:PSDL) Phoenix Spree Deutschland share price was +5p at 356p