BNP Paribas Real Estate

Company posts

Cologne investment market: Good number of deals, turnover in line with the five-year average

The Cologne investment market recorded turnover of around €661 million across some 30 transactions in Q1–Q3 2026, which is close to the five-year average. Offices dominated, accounting for just under 71 per cent. Prime yields rose to 4.10 per cent (retail) and up to 4.70 per cent (offices/logistics).

The Ruhr logistics market sets new records for volume and number of deals

The Ruhr logistics market reached record levels in Q1–Q3 2026, with 484,000 m² of space taken up and a high number of deals. Major deals involving Cencora, Goodcang, Apex and Logicall SCS, amongst others, are driving the momentum; logistics service providers account for around 71 per cent. Rents are rising slightly, whilst supply remains tight.

Markets Real Estate

Düsseldorf’s logistics market once again posts above-average results

The Düsseldorf logistics market recorded around 202,000 m² of take-up by the end of Q3 2026 – the third consecutive Q1–Q3 period with above-average performance and 12 per cent above the ten-year average, but 11 per cent below the previous year. Logistics operators dominate (56 per cent), whilst rents are rising: peak at €8.85 per m², average at €7.10 per m².

Markets Real Estate

Berlin logistics market: space take-up slightly down on the previous year

BNP Paribas Real Estate reports 298,000 m² of space take-up in the Berlin logistics market for Q1–Q3 2026 – 7 per cent below the previous year and 18 per cent below the 10-year average. Major deals included those with JD Logistics and ASML, whilst rents remained stable. A figure of over 400,000 m² by the end of the year appears realistic.

Markets Real Estate

Leipzig investment market: a significant increase compared with the previous year

After three quarters of 2026, Leipzig’s investment market has reached around €341 million – the best result in three years and roughly three times as much as in 2025. Driven by a strong first quarter (including Höfe am Brühl); retail dominates, with foreign investors accounting for approximately 74 per cent, and prime yields have risen slightly.

Markets Real Estate

Logistics space turnover continues to rise – particularly high volumes in the third quarter

BNP Paribas Real Estate reports logistics space turnover of 5.5 million m² for Q3 2026 (+28 per cent year-on-year); in the third quarter, this stood at just under 2.2 million m² (+23 per cent quarter-on-quarter). Outside the hubs: +51 per cent; top markets: -5 per cent. Logistics service providers: 45 per cent; rents are rising in several locations.

Markets Real Estate

BNP Paribas Real Estate strengthens its European presence by forming an alliance with FORT VEGA in Slovenia

BNP Paribas Real Estate has formed an alliance with the Ljubljana-based consultancy FORT VEGA, thereby strengthening its European network. The partnership provides advisory services for transactions and commercial property in Slovenia.

Cooperations Dynamics

Best result since 2022 on the Düsseldorf investment market

The Düsseldorf investment market has achieved a volume of €963 million up to Q3 2026 – the best result since the interest rate turnaround in 2022. Q2 was driven by major deals (including the Dreischeibenhaus at over €200 million), whilst Q3 fell to €214 million. Office property dominated (46 per cent), with prime yields up 10 basis points.

Markets Real Estate

Düsseldorf office market sees take-up exceed the five-year average

The Düsseldorf office market recorded around 200,000 m² of take-up, 8 per cent above the five-year average and just under 28 per cent higher than the previous year; Q3 fuelled this momentum. Uniper leased approximately 37,000 m²; the average rent rose to €24/m², with prime rents at €46/m². By the end of the year: 250,000–300,000 m² is a realistic figure.

Markets Real Estate

Berlin investment market: Big deals are few and far between, but there are plenty of smaller investments

By the end of Q3 2026, the Berlin investment market will have raised around €1 billion, trailing behind Munich (€1.7 billion) and Hamburg (€1.2 billion). There is a lack of major deals (only one worth over €100 million and one worth over €50 million); the picture is characterised by many smaller transactions, with prime yields rising by 10 basis points.

Markets Real Estate

Hotel investment market: low volume, but the highest number of deals since Q1–3 2022

BNP Paribas Real Estate reports a hotel transaction volume of around €1 billion (–27 per cent) for Q1–3 2026, whilst the number of deals rose by 27 per cent – the highest since Q1–3 2022. Foreign investors accounted for approximately 48 per cent (≈€500 million). A total volume of around €1.5 billion is expected for 2026.

Markets Real Estate

Dortmund office market remains close to the average despite a lack of major deals

The Dortmund office market recorded 64,000 m² of take-up in the first nine months of 2026 (-27 per cent year-on-year) and remained close to the 10-year average despite the absence of deals exceeding 10,000 m². Prime rent: €23/m² (+2 per cent); average rent: €13.30/m² (-8 per cent). Vacant space: 151,000 m²; vacancy rate: 4.7 per cent.

Markets Real Estate