Statements on the real estate investment market in Germany from an online press conference on 21.01.2026
Dr. Christine Bernhofer, Chairwoman of the Management Board of Real I.S. AG
“Uncertainties continue to be felt among office tenants, largely driven by the macroeconomic and geopolitical situation. Properties that are not in core locations and do not have contemporary quality are particularly affected. Disruptive developments such as the impact of artificial intelligence on the office market are often not yet taken into account. In contrast, we see much more positive developments in types of use that are more independent of the economy, such as housing and logistics. The topic of defence is also expected to play a greater role for the logistics real estate industry this year than in 2025 and will boost the market in this segment.”
“The portfolios of institutional investors are again structured in a more classic way. The real estate boom from the years up to 2022, which was caused by the special economic situation – keyword interest rate policy – will not be repeated. But investors are becoming more active again than recently. Pension funds, insurance companies and pension funds are again showing noticeably more interest in our discussions. That has hardly been the case in recent years.”
“The future will not be a repeat of the past, especially if interest rates remain stable as expected. All industry participants need staying power. Signs of increasing activity are present. The biggest risk for the entire market would therefore be a standstill, which would mean that we would lose important years in which the course for the future is set.”
