Q3 2023 Demire Deutsche Mittelstand Real Estate AG Earnings Call Transcript
Ladies and gentlemen, good morning, everybody. And welcome to our results presentation for the first 9 months of 2023.
Thank you for dialing in. I trust and hope you all well. With me here is the DEMIRE's CFO, Tim Bruckner; DEMIRE's CIO, Ralf Bongers; (inaudible) as well as Julius Stinauer, our Head of Investor Relations. I'm sure you have had the chance to look at our results already, which I would summarize as solid and in line with our expectations.
Before I start with the actual presentation of the results, let me briefly speak about the current economic sentiment and how it affects the operations of DEMIRE. A challenging economic environment continues to define the commercial real estate market and the third quarter.
With the outlook for interest rate development is still uncertain, the transaction market is weak, and deal volume was at historically low levels. Increased financing costs makes pricing difficult for market players, and are leading to continued price pressure.
In view of the difficult
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