bulwiengesa GmbH

About the company

bulwiengesa ist eines der größten unabhängigen Beratungs- und Analyse- und Bewertungsunternehmen für die Immobilienbranche in Deutschland. Projektentwickler, Bauträger, institutionelle Investoren, Banken, Kommunen oder Bestandshalter vertrauen uns seit 1983.

Company posts

bulwiengesa and Deutsche Pfandbriefbank are collaborating on the Financing Barometer

From 2027, bulwiengesa and Deutsche Pfandbriefbank will jointly publish the Financing Barometer and are planning to expand it across Europe. In the third quarter of 2026, the barometer reading fell to −13.61 points, its lowest level in two years.

Light Industrial Market: Investment and demand for space are rising sharply

The light industrial market is set to start 2026 with greater momentum: investment volume is up 59 per cent on H2 2025 to €1.15 billion, whilst take-up has risen by 30 per cent to 1.68 million square metres. Business parks dominate (53 per cent), rents remain largely stable, and yields are slightly higher.

Markets Real Estate

Logistics real estate market: Demand picks up, construction activity declinesLogistics real estate market: Demand picks up, construction activity declines

The German logistics real estate market will be in a transition phase in 2026: construction activity declining, regional demand picking up (including Düsseldorf, Hamburg, Cologne). Rents stable at a high level, prime yields slightly higher. Additional impetus from Defence and Asia.

Markets Real Estate

5 %-Studie 2026: Immobilienmarkt 2026: Renditepotenziale im „New Normal“

The 5% Study 2026 by bulwiengesa with ADVANT Beiten shows that the adjustment process in the German real estate market is continuing, transactions remain weak. IRR underlying assets are rising slightly in almost all asset classes; offices are growing the most, while light industrial remains the top yield.

Markets Real Estate

Initiative Bildungsimmobilien: New study shows ways to speed up municipal school construction

As part of the Educational Real Estate Initiative, Bulwiengesa publishes a short study on accelerated municipal school construction. It compares implementation models on the basis of life cycle costs and offers municipalities a decision matrix for project-specific model selection.

Infrastructure Markets Real Estate

Projektentwicklungsmarkt zwischen Aufhellung und Realisierungsstau: Baustarts bleiben auf niedrigem Niveau

Der Development Monitor zeigt eine wachsende Lücke zwischen Planung und Realisierung: Rund 31% des Ende 2023 erwarteten Wohnvolumens werden aktuell nicht wie geplant umgesetzt. Baustarts liegen 67% unter dem Peak. Verzögerungen nehmen zu, die Pipeline bleibt vor allem in der Planung stecken.

Markets Real Estate

Development Monitor continues to grow: GSK Stockmann strengthens partner network

bulwiengesa's Development Monitor is expanding its network with GSK Stockmann. Together with BFW and DKB, the law firm contributes legal and regulatory expertise.

Cooperations Real Estate

Educational Real Estate Initiative grows to eleven members

The Educational Real Estate Initiative, coordinated by bulwiengesa, is growing: Art-Invest Real Estate, KanAm Grund Group and KGAL are joining. The network now has eleven members and is expanding its expertise in development, financing and database in the field of educational real estate.

Dynamics

Retail: Inner cities are recovering – but only in the best metres

Bulwiengesa and ImmoScout24 publish the GewerbeBarometer on the German commercial real estate market for the first time. In prime locations in A-cities, prime rents are stabilising around €250/sqm, while supply has increased by around 33% since 2022 and demand is focused on top locations.

Markets Real Estate

Logistics market loses boom momentum – but remains a stable anchor

The GewerbeBarometer by bulwiengesa and ImmoScout24 shows that the logistics market is losing boom momentum, but remains stable. New construction volume in 2025 approx. 4.3 million sqm; Offer since 2022 +80%. Demand is differentiated, with prime rents close to €10/sqm (Munich €10.90).

Markets Real Estate

Office market in upheaval: More vacancies – but rising rents

bulwiengesa and ImmoScout24 are presenting the GewerbeBarometer for the first time: in 2025, take-up in the office market will fall by 8% to 4.1 million sqm, while vacancies will rise to 6.3% nationwide and 8.4% in A-cities. At the same time, prime rents are rising; Conversions remain difficult.

Markets Real Estate

Micro-living remains a growth driver in the housing market

The market report of the Micro-Living initiative reports continued high demand: occupancy rate 96%, average all-in rent 616 euros/month, private sector 761 euros. Annual rent increases of 2–6% are expected until 2028.

Markets