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Quarterly Report

Office letting market in Hamburg Q2-2025: Premium space in central locations remains scarce

In the first half of 2025, take-up in Hamburg's office letting market amounted to 207,000 m². Compared to the same period last year, this corresponds to an increase of 9.8%. In contrast to the ten-year average, however, it was about 15% lower.

by Savills

Quarterly Report

Office leasing market in Cologne Q2-2025: Cologne office leasing market loses momentum in the second quarter

In the first half of 2025, the office letting market in Cologne achieved take-up of around 115,600 m², which corresponds to an increase of 73.8% compared to the first half of 2024. Despite the significant growth, sales were still about 17% below the ten-year average.

by Savills

Markets Real Estate

Quarterly Report

Office letting market in Munich Q2-2025: Highest vacancy rate since 2010, prime rents nevertheless stable

In the first half of 2025, take-up of 286,500 m² was registered on the Munich office letting market. This was 10.4% higher than in the same period of the previous year.

by Savills

Markets Real Estate

Quarterly Report

Office letting market in Berlin Q2-2025: Take-up remains subdued – Increased demand in individual sub-markets provides impetus

In the first half of 2025, take-up on the Berlin office letting market amounted to 248,000 m². This represents a decrease of 17.2% compared to the same period last year.

by Savills

Markets Real Estate

Quarterly Report

Many small and medium-sized transactions in Dusseldorf

With 19 transactions, the trend on the Düsseldorf real estate investment market is again pointing more clearly upwards. So many sales have not been registered in the NRW state capital since Q1 2022.

by JLL

Markets Real Estate

Quarterly Report

Hotel investment market continues to pick up speed – number of major transactions rises

The German hotel investment market has clearly picked up speed in recent months. After two very stable quarters in the 2nd half of 2024, each with over €400 million, the market had made a comparatively weak start to 2025 due to a lack of product surplus.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

Healthcare investment volume significantly above previous year and slightly below average

The transaction volume on the healthcare investment market amounted to € 943 million after the first six months. Although the result is around 18% below the long-term average, the half-year result from the previous year was significantly exceeded by 66%.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

Retail investments at the top of the asset class ranking due to Porta takeover

The retail investment market recorded a transaction volume of just over €2.86 billion in the middle of the year, putting it ahead of logistics assets (€2.78 million) and office properties (€2.67 million) by a razor-thin margin of the top three property types.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

German investment market for healthcare and social real estate: Medical centres, medical centres and educational properties are moving into the focus of investors

According to Savills, the transaction volume in healthcare and social real estate in the 1st half of the current year amounted to just under EUR 920 million, an increase of more than 130% compared to the first half of the previous year.

by Savills

Markets Real Estate

Quarterly Report

Logistics investment volume slightly below previous year’s level

The logistics investment market generated a volume of €2.8 billion in the first half of the year, slightly below the previous year's level (-2.2%). Overall, the market is very lively with a very significant increase in the number of deals.

by BNP Paribas Real Estate

Markets Real Estate

Quarterly Report

Top 6 office markets: Office space take-up recovers, but remains below the long-term average

In the first half of 2025, the top 6 office markets* recorded take-up of around 1.3 million m², 17.8% above the level of the same period last year - but a decrease of 9.1% compared to the average of the past ten years.

by Savills

Markets Real Estate

Quarterly Report

German investment market for office properties: While willingness to sell is increasing, institutional investors remain cautious

According to Savills, the transaction volume with office properties in the 1st half of the current year amounted to just under EUR 1.9 billion, which corresponds to a decline of around one third compared to the 1st half of the previous year.

by Savills

Markets Real Estate

Article

Construction industry as a problem child of the German economy – times without a turnaround?

Our junior analyst Amelie Feye has analysed the current situation in the German construction industry. The focus is on economic development, structural stress factors and political measures to stabilise residential construction.

by Maximilian Radert | KINGSTONE Investment Management GmbH

Markets Real Estate

Article Quarterly Report

Data center market grows somewhat slower despite large pipeline

Although the demand for technologies such as 5G, cloud services and, above all, artificial intelligence (AI) is enormous, limiting factors are causing slightly weaker growth.

by JLL

Markets Infrastructure Real Estate

Article Quarterly Report

German investment market for industrial and logistics real estate: Upturn halted for the time being

According to Savills, around 2.1 billion euros were traded on the market for industrial and logistics real estate in the 1st half of 2025. Compared to the same period last year, this corresponds to a decrease of 33%. Compared to the 10-year average, sales were even 41% lower.

by Savills

Markets Real Estate

Article Quarterly Report

Office investment markets up significantly

The very good start to the year, which also saw the sale of the Upper West in Berlin, was followed by a somewhat quieter second quarter, so that in total there is an increase of a good fifth compared to the same period last year.

by BNP Paribas Real Estate

Markets Real Estate

Article

Adjustment of Depot A strategies: Secondary market as a strategic alternative

In times of stricter regulatory frameworks, savings banks and institutional investors have to rethink their Depot A strategies. The secondary market offers a discreet alternative to the classic termination of real estate fund units. At the same time, buyers benefit from attractive prices.

by Jan-Peter Schmidt | Fondsbörse Deutschland Beteiligungsmakler AG

Cases Markets Real Estate

Article Quarterly Report

Continued market recovery in residential investments

In the first half of 2025, the German residential investment market continued its recovery, with a moderate slowdown in momentum in the second quarter compared to the first quarter.

by BNP Paribas Real Estate

Markets Real Estate

Article Quarterly Report

German investment market for residential real estate: More intense bidding competition, especially for well-located existing properties

In the 1st half of the current year, the transaction volume with residential real estate* amounted to a good 3.2 billion euros, according to Savills.

by Savills

Markets Real Estate

Article Quarterly Report

The global uncertainties are also reflected in the investment markets

The recovery trend of the German investment markets observed at the beginning of the year took a little breather in the second quarter. Nevertheless, the previous year's result was exceeded by around 2% overall.

by BNP Paribas Real Estate

Markets Real Estate

Article Quarterly Report

German real estate investment market: Supply increases, transaction volume not yet

In the 1st half of 2025, commercial and residential real estate* changed hands on the German real estate investment market for around EUR 13.3 billion. Compared to the same period last year, this represents a decrease of 13%.

by Savills

Markets Real Estate

Article Quarterly Report

Real estate investment market fluctuates between recovery and uncertainty

After a promising start to the year, the momentum on the German real estate investment market slowed down again in the second quarter of 2025.

by JLL

Markets Real Estate

Comment

The construction turbo could initiate the turnaround for residential construction

Prof. Dr. Mathias Hellriegel in the IREBS position on upcoming changes, the significance for housing construction, upcoming challenges and positive impulses for the industry.

by IRE|BS Immobilienakademie

Markets Real Estate Regulatory

Article

Top-down or bottom-up?

Different approaches can be taken when selecting managers and investment products and constructing multi-manager portfolios. We will now discuss what the practical differences are and why they play a role for us.

by Dr. Christoph Gort | Cambridge Associates AG

Markets Cases Private Debt Private Equity

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