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Quarterly Report

Slight upward trend in office investments continues, prime yields remain stable

In 2025, around 6.23 billion euros were invested in office properties in Germany, which corresponds to a 20% increase in transaction volume compared to the previous year. Despite the lack of portfolio sales, a stable market is showing positive trends.

by BNP Paribas Real Estate

Markets Real Estate

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Quarterly Report

Hamburg investment market: €1.9bn investment volume, market momentum picks up in the final quarter

In 2025, €1.9 billion was invested in Hamburg's commercial real estate market, a decrease of 17% compared to the previous year. In particular, there is a lack of large-volume transactions for a visible market recovery.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

Berlin is once again at the top of the A-locations, investment turnover only slightly below the previous year’s level

In 2025, Berlin will remain the leading A-location in Germany with an investment volume of 3.25 billion euros. Despite a slight year-on-year decline, Berlin is outperforming the average of the last three years, thanks in particular to significant transactions such as the sale of the Upper West.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

Munich Investment Market: Second place again in a location comparison, 44% of the volume in Q4

The Munich investment market recorded strong growth in the fourth quarter of 2025, with 44% of the annual volume achieved during this period. Particularly noteworthy are two major deals in the city centre, including early Signa properties.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

Savills examines real estate investment market in Cologne: Larger core transactions accompany slowly increasing transaction dynamics

According to Savills, 1.5 billion euros were turned over in the Cologne real estate investment market in 2025, which corresponds to an increase of 37% compared to the previous year. Tobias Schneider reports on an increasing range of products.

by Savills

Markets Real Estate

Quarterly Report

Savills examines real estate investment market Hamburg: More office transactions again with increasing market spread

In 2025, Savills registered around 1.9 billion euros in the Hamburg real estate investment market, a decline of 21% compared to the previous year. Prime yield for offices down 10 basis points.

by Savills

Markets Real Estate

Quarterly Report

Colliers – Gradual market recovery in large-volume retail properties

In 2025, retail properties worth 5.8 billion euros were traded in Germany, an increase of 16% compared to the previous year. Growth was mainly driven by transaction volume in the fourth quarter.

by Colliers

Markets Real Estate

Quarterly Report

Logistics investments remain below the previous year overall, individual deals increase significantly and reach the average

The logistics investment market in Germany reached a volume of €6.2 billion in 2025, which is 10% below the previous year. Individual deals increased by 17%, while portfolio transactions declined significantly.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

Colliers – Solid market shares for industry & logistics

In 2025, the German industrial and logistics real estate market achieved a transaction volume of 6.0 billion euros, 19 percent less than in the previous year. International investors had a high market share of 61 percent.

by Colliers

Markets Real Estate

Quarterly Report

Colliers – Declining momentum in large-scale deals limits office space take-up

In 2025, Germany's largest office letting markets recorded take-up of 2.6 million square metres. While Frankfurt showed a dynamic increase, declining large-scale deals in other cities led to a decline in sales. Prime rents continued to rise, especially in Munich and Frankfurt.

by Colliers

Markets Real Estate

Quarterly Report

Retail investment market: total volume slightly above previous year’s level, Signa properties decisive factor for good take-up in Q4

The retail investment market closed 2025 with a transaction volume of around €6.5 billion, similar to the previous year. Large-volume Signa properties made a significant contribution to sales in the fourth quarter. Retail and food investments will remain in focus for 2026.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

Savills examines the real estate investment market in Munich: Transactions are concentrated on the Altstadtring and are dominated by private capital

In 2025, around EUR 2.4 billion was turned over on the Munich real estate investment market, which corresponds to a decline of 12%. Transactions took place mainly in the Altstadtring and were dominated by private capital.

by Savills

Markets Real Estate

Quarterly Report

Germany’s office markets confirm last year’s result – accelerated market momentum at the end of the year

Germany's office markets overcame a challenging environment in 2025 and achieved a slight increase in take-up of 1.4% compared to the previous year. Frankfurt achieved the strongest turnover, ahead of Munich and Hamburg. However, the vacancy rate rose by 16% to 8.8 million m².

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

Berlin real estate investment market: Investors are acting cautiously and selectively – many imminent transactions are likely to make for a strong start to the year

In 2025, Berlin's real estate investment market recorded a turnover of around EUR 4.8 billion, a decline of 26% compared to the previous year.

by Savills

Markets Real Estate

News Quarterly Report

Savills examines top 6 office markets in Germany: High quality of space as a key leasing criterion

Savills has analysed the development of the top 6 office markets in Germany. In 2025, take-up amounted to 2.4 million m², an increase of 2.8% compared to the previous year. Nevertheless, sales remain below the ten-year average.

by Savills

Markets Real Estate

Quarterly Report

Retail real estate investment market grew slightly in 2025

The German retail real estate investment market recorded growth of 2% in 2025, with a transaction volume of 6.4 billion euros. Large transactions and international investors contributed to the stability and strength of the market.

by CBRE

Markets Real Estate

Quarterly Report

Savills examines the German investment market for healthcare and social real estate in the fourth quarter of 2025: Nursing homes remain the driving force, medical centres with the largest increase in turnover

In 2025, the transaction volume in the German healthcare and social real estate market rose to just under EUR 1.2 billion. Nursing homes remained the segment with the highest turnover, while medical centers recorded the largest increase in sales.

by Savills

Markets Real Estate

Quarterly Report

JLL: Office leasing market is treading water due to many challenges

At the end of 2025, the German office letting market showed a stable development with slight regional differences. Despite a minimal decline of 0.8 per cent in take-up, this is seen as a positive signal.

by JLL

Markets Real Estate

Quarterly Report

Savills examines German investment market for office properties: Stable, but still lacking momentum

In 2025, the transaction volume with office properties amounted to just under EUR 5.6 billion, the previous year's level. Prime office yields fell in Hamburg and Munich, while they remained stable in other markets. Karsten Nemecek expects a continuing buyer's market.

by Savills

Markets Real Estate

Quarterly Report

Colliers – Investment market characterised by an early-cycle environment and moderate growth momentum

The German investment market recorded a transaction volume of 34.3 billion euros in 2025, with the commercial sector remaining stable and the residential sector declining. Michael R. Baumann of Colliers reports a moderate upswing and stable framework conditions. The leading cities remain Berlin, Munich and Frankfurt, but transactions under 50 million euros dominate.

by Colliers

Markets Real Estate

News

Residential investment market in 2025: More deals, less volume

In 2025, the investment volume in the institutional housing market in Germany was lower than in the previous year, despite a higher number of transactions. The final quarter was the strongest in terms of revenue, characterized by smaller and medium-sized transactions.

by JLL

Markets Real Estate

Quarterly Report

Stable German investment market starts 2026 with growing momentum

The German investment market was stable in 2025 and started 2026 with new momentum. With an investment turnover of just under €34 billion, the result fell slightly short of the previous year by 3.5%, with growth recorded in the office and hotel segment.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

NAI apollo: German transaction market for residential portfolios normalizes at a low level

The German transaction market for residential portfolios experienced a strong final quarter in 2025 with a volume of EUR 2.4 billion, while the full-year volume of EUR 8.7 billion was below the previous year. Medium-sized portfolio deals increased, large transactions decreased.

by NAI apollo

Markets Real Estate

Quarterly Report

Market recovery in the residential asset class picks up speed in the final quarter

In the fourth quarter of 2025, the German residential investment market continued its recovery with 8.9 billion euros invested in residential portfolios. Market momentum was supported by increased demand, especially in forward deals.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

JLL: Upturn in the German investment market will take a break in 2025

The German real estate investment market recorded a transaction volume of 33.9 billion euros in 2025, a decline of four percent compared to the previous year. Institutional investors remained cautious, but accelerated lending and the strength of German cities could provide impetus in 2026.

by JLL

Markets Real Estate