Markets

European real estate transaction volume expected to reach EUR 130 billion in Q1 to Q3 2025, up 1.5% year-on-year

According to a recent analysis by Savills, the European real estate investment market remained robust overall in the third quarter of 2025. According to preliminary results, transactions worth almost 37 billion euros were recorded.

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Statement by Prof. Dr. Tobias Just on EXPO REAL 2025

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In the third quarter of 2025, take-up of 133,000 square metres was recorded - an increase compared to the previous quarter and the previous year's result. So far, annual take-up is 344,300 square metres, which corresponds to the previous year's level.

Colliers: Industrial and logistics leasing market on the road to recovery

Take-up in Germany exceeded the previous year's level by 8 per cent. In the top 8, the focus of users continues to be on the small-scale space segment up to 3,000 square metres.

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Hotel investment market remains on the upswing: best result since 2021

The interest in hotel investments, which has been increasing for some time, is now also reflected in the transaction volume. With total revenue of almost €1.43 billion, hotels increased their volume by almost 44% compared to the same period last year and achieved their best result since 2021.

Hotel investment market with increasing transaction dynamics

The transaction volume reached 1.5 billion euros in the first three quarters of 2025, an increase of 50 percent compared to the same period last year. At the same time, the prime yield has remained stable at 5.25 percent since the end of 2023.

Colliers: Hotel investments continue recovery – third quarter marked by portfolio deals

The commercial transaction volume rose to around 1.3 billion euros in the first nine months of 2025 – an increase of 44 percent compared to the previous year. In the third quarter, smaller deals and portfolios dominated. Hotels increased significantly and accounted for 8 percent of the total volume.

The market is slowly starting to move

Statement on EXPO REAL by Boris Schran, Managing Partner, Peakside Capital Advisors:

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Vacancy rate is rising especially in peripheral locations – Small, high-quality space remains scarce

Retail investments remain on track: dynamic market activity despite slight decline in sales

Even though the retail investment market reported a slight decline in revenue of around €4.1 billion at the end of the third quarter (-16% compared to Q1-3 2024), the lively transaction activity of the first half of the year has continued in recent months.

Colliers: Increasing portfolio momentum ensures solid results in the industrial and logistics real estate market

The transaction volume was EUR 4.0 billion, 11 percent below the previous year's level. Increasing momentum in the market can be observed above all through portfolio transactions and individual major transactions with volumes in excess of EUR 100 million.

Offices back at the top of the asset classes

After office investments had lost their dominant role as the most important asset class in the last two years, they have once again taken the lead in terms of transaction volume in the current year.

Colliers: Interest in large real estate awakened, the retail park segment remains dominant for the time being

The transaction volume amounted to 3.8 billion euros and is thus still on track for the previous year. In the third quarter, significantly brisk market activity was registered. Large-volume inner-city properties and food-anchored retail park portfolios are once again increasingly shaping market activity.

Logistics investment market: Lack of portfolio deals prevents better result

The logistics investment market recorded a transaction volume of €4.2 billion in the first nine months of 2025. Earnings at the end of the third quarter fell short of the long-term average (Ø 10 years: €5.2 billion) by just under 20%, but were only slightly below the level of the same period last year (-5%).

Great momentum is a long time coming – office leasing market on a cautious growth path

Take-up in the top 7 reached 2 million square metres, up 5 per cent on the previous year's figure. As expected, the vacancy rate continued to rise and now stands at 8.3 percent.

Colliers: Stable residential investment market in the third quarter of 2025

The transaction volume reached 6.5 billion euros, 13 percent higher than in the previous quarter, but 7 percent below the previous year's level. Individual transactions dominate the market, while portfolios account for only 13 percent.

Colliers: Investment market slowly works its way out of transformation phase towards recovery

The transaction volume on the residential and commercial investment market amounted to 23.7 billion euros, just missing the previous year's level. In the commercial segment, the strongest quarterly result since the beginning of the year was achieved.

Market recovery in residential investments continues

In the third quarter of 2025, the German residential investment market continued its market recovery from the first half of the year, although the momentum has recently weakened slightly.

Investment volume remains stable at previous year’s level

The stabilization of the investment markets has continued and is also reflected in the transaction volume of the first three quarters. With total sales of just under €23.8 billion, earnings are on a par with the previous year.

NAI apollo: German transaction market for residential portfolios marked by further stabilisation trends in summer 2025

At around EUR 2 billion, the transaction volume is on a par with the previous quarter, while the annual volume of EUR 6.3 billion exceeds the previous year's figure. Market activity is picking up especially in project developments and mid-range portfolio sizes.

German real estate investment market: slow recovery continues, but remains fragile

The German real estate investment market for commercial and residential real estate* has gained some momentum in recent months. In the 3rd quarter, the transaction volume amounted to just under EUR 7.6 billion, which was a fifth higher than in the previous quarter.