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Seitwärtsbewegung auf dem Bürovermietungsmarkt – Berlin und München mit starken Flächenumsätzen

Analysis Quarterly Report

Sideways movement in the office letting market – Berlin and Munich with strong take-up

BNP Paribas Real Estate reports office space take-up of 1.3 million m² in the top 8 for H1 2026, the market is stagnating. Berlin (373,000 m², +51%) and Munich (354,000 m², +38%). Vacancy rate is 9.1 million m²; Construction volume drops to 2.2 million m²; Frankfurt's prime rent rises to €57/m².

by BNP Paribas Real Estate

Markets Real Estate

Analysis Quarterly Report

Healthcare real estate investment market continues recovery in the first half of the year

The German healthcare real estate investment market generated a volume of EUR 1.38 billion (+48%) in the 1st half of 2026. Nursing homes dominated, hospital deals brought impetus; Prime yield for nursing homes at 5.5%. CBRE expects solid market activity for H2.

by CBRE

Markets Real Estate

Analysis Quarterly Report

Retail real estate investment market with subdued first half of the year – but market offering grows significantly

CBRE reports a transaction volume of EUR 1.9 billion in the German retail real estate market for H1 2026 (−35%). The range of high-quality assets and portfolios is increasing, and prime yields remain largely stable. For 2026, 5–6 billion euros are expected.

by CBRE

Markets Real Estate

Analysis Quarterly Report

Savills examines real estate investment market Berlin: Stakeholders remain in scanning mode

In the 1st half of 2026, around 2.1 billion euros were invested in Berlin – 6% less than in the previous year and 55% below the 10-year average. Prime yields: office 4.5%, commercial buildings 4.4% (stable). Savills sees the market continuing to be in sampling mode; Residential real estate led in a 12-month comparison.

by Savills

Markets Real Estate

Analysis Quarterly Report

Geopolitical realities meet forward-looking user requirements in industry and logistics

The market for industrial and logistics investments in Germany remained almost stable in H1 2026 at EUR 2.4 billion (-1%). Stricter financing makes deals more difficult, with individual transactions dominating (68%). Gross prime yield rises by 25 bp to 5.00%; Colliers sees opportunities in special real estate.

by Colliers

Markets Real Estate

Analysis Quarterly Report

Savills examines the real estate investment market in Frankfurt am Main in Q2-2026: Liquidity for large properties remains low

Savills analyses the Frankfurt real estate investment market in Q2 2026. In the 1st half of the year, EUR 320 million was generated (+9% year-on-year), 82% below the 10-year average; approx. 20 transactions (−10%). Prime yields unchanged at 4.5%/4.3%; major deals remain difficult, Opernturm sale cancelled.

by Savills

Markets Real Estate

Analysis Quarterly Report

Savills examines real estate investment market Hamburg: Successful transactions remain hard work

Savills reports around EUR 1.1 billion in investment turnover in Hamburg in the 1st half of 2026 (+18% year-on-year, 40% below 10-year average). About 60 deals in 12 months; Prime yields: office 4.2%, commercial buildings 4.3%. Quality in demand in top locations; Family offices remain active.

by Savills

Markets Real Estate

Marktdynamik an den Top-5-Büromärkten bleibt diversifiziert: Berlin und München setzen Impulse in einem weiterhin selektiven Marktumfeld

Analysis Quarterly Report

Market dynamics in the top 5 office markets remain diversified: Berlin and Munich provide impetus in a market environment that remains selective

CBRE reports 1.13 million m² of take-up (−6.1%) in the top 5 office markets for the first half of 2026. Berlin and Munich are driving thanks to tech and AI demand. Prime rents are rising everywhere, vacancy rate around 8.5%. Outlook: slight stabilisation in the course of the year.

by CBRE

Markets Real Estate

Analysis Quarterly Report

Savills: German office investment market continues to make progress

In the 1st half of 2026, the German office investment market generated around EUR 2.3 billion (+10% year-on-year), according to Savills, but was 71% below the 10-year average. Prime yields mostly stable, Düsseldorf +10 bp, average approx. 4.4%. Market in discovery phase; Top 6 volume +74%, transactions +8%.

by Savills

Markets Real Estate

Analysis Quarterly Report

Savills examines the German investment market for healthcare real estate in the second quarter of 2026: Medical centres drive transaction activity

Savills analyzes Q2/2026 in the German healthcare real estate market. In the 1st half of the year, sales of more than 1.4 billion euros were made, strongly driven by medical centres. Prime nursing home yield rises to 5.3%, medical centres (4.7%) and assisted living (4.5%) remain stable; Annual volume could reach 2 billion euros.

by Savills

Markets Real Estate

Analysis Quarterly Report

JLL: Uncertainties and cost increases are slowing down demand for office space

JLL reports 1.35 million m² of take-up in the seven metropolises for H1 2026, around 5% below the previous year. Demand remains selective; Berlin and Munich revive, Frankfurt weak. Vacancy rate rises to 8.5%, completions are declining, prime rents are higher in some cases (Munich 62 €/m²).

by JLL

Markets Real Estate

Analysis Quarterly Report

Savills examines real estate investment market in Cologne: Significantly increased supply meets persistently selective demand

Savills reports around 200 million euros for Cologne in the 1st half of 2026 – 51% less than in the previous year and 74% below the 10-year average. In 12 months, 34 transactions were recorded; Prime yields for offices and commercial buildings remain unchanged at 4.4%.

by Savills

Markets Real Estate

Analysis Quarterly Report

Savills examines investment market for hotel and accommodation properties: Operator dynamics create opportunities through repositioning

In the 1st half of 2026, the transaction volume with hotel and accommodation properties was around EUR 572 million (−45% year-on-year), according to Savills; Q2 reached 360 million euros, classic hotels dominated with 469 million euros (82%), serviced apartments came to almost 100 million euros.

by Savills

Markets Real Estate

Analysis Quarterly Report

Savills examines real estate investment market in Düsseldorf: Still challenging environment, but better conditions for deals

According to Savills, around 824 million euros were invested in Düsseldorf in the 1st half of 2026 – 166% more than in the previous year, but 29% below the 10-year average. Prime office yield: 4.6%, commercial buildings: 4.4%. Despite the challenging environment, the chances of closing the deal are increasing and activity is likely to increase.

by Savills

Markets Real Estate

Article Quarterly Report

Savills examines German market for industrial and logistics real estate: Solid first half of the year despite geopolitical situation, portfolio deals remain rare

Savills reports around EUR 2.3 billion in investments in German industrial and logistics real estate for H1 2026: +9% year-on-year, 34% below 10-year average, approx. 110 transactions (+22%), prime yield 4.5%. Portfolio deals 24%; for the first time, major transactions related to armaments.

by Savills

Markets Real Estate

Analysis Quarterly Report

Logistics real estate investment market grows significantly in the first half of 2026

The German industrial and logistics investment market generated a volume of EUR 3.26 billion in the first half of 2026 (+24% compared to H1 2025). Large-volume transactions stimulated the market; the prime yield rose slightly to 4.5%. CBRE sees a continuation of the positive development with more core products.

by CBRE

Markets Real Estate

Analysis Quarterly Report

Savills examines top 6 office markets: Uncertainty and cost pressure slow down users

Savills analyses the top 6 office markets: In the 1st half of 2026, take-up was 1.2 million m² (-6% YoY), prime rents rose by 1.6% QoQ, and the vacancy rate to 8.9% (+20 bp). Uncertainty and cost pressure are dampening demand; Quality remains in demand, the outlook remains restrained.

by Savills

Markets Real Estate

Quarterly Report

Office leasing market shows pronounced polarization

By mid-2026, the German office leasing market is showing strong polarisation: Berlin (+44%) and Munich (+36%) are growing, while Frankfurt (-57%) and Stuttgart (-38%) are losing significantly. Prime rents are drifting apart, vacancy rate rises to 9.2%.

by Colliers

Markets Real Estate

Nicole Römer, Head of Retail Germany bei Colliers. Foto: Colliers

Forecast Quarterly Report

Slowed momentum in the retail investment market – opportunities for the second half of the year due to a well-filled sales pipeline

The German retail investment market recorded a transaction volume of EUR 1.9 billion in the first half of 2026 (-25% year-on-year); in the second quarter, it slumped by 41%, and deals halved. The reasons are geopolitical risks and interest rate increases. Colliers sees opportunities for the second half of the year; Forecast: around 5 billion euros.

by Colliers

Markets Real Estate

IREBS Standpunkt Nr. 153 – "Zukunftsfähiges Immobilienmanagement – auf diesen Dreiklang kommt es an"

Analysis Comment

Future-proof real estate management – this triad is what matters

Prof. Dr. Tobias Just in IREBS Viewpoint No. 153 on the strategic responses of the real estate industry to increasing uncertainty and why flexibility, adaptability and resilience are crucial for long-term corporate success.

by IRE|BS Immobilienakademie

Markets Real Estate

Analysis

The best energy-saving measures for your home – from quick amortization to costly and long-term

Aroundhome compares renovation measures in the home according to costs, savings, amortization and possible increase in value. Result: Order is decisive; first reduce losses, then modernize the heating system. Insulation pays off faster, windows rarely, heat pumps in the long term.

by Aroundhome

Analysis Quarterly Report

JLL: Good second quarter ensures stable development in the residential investment market

The commercial residential investment market in Germany stabilised at EUR 4.3 billion in the 1st half of 2026. In Q2, the volume increased to EUR 2.6 billion (+58% compared to Q1); foreign investors expanded net by 1.33 billion euros. Metropolises remained underrepresented; Prime yields stable at 3.51%.

by JLL

Markets Real Estate

Analysis Quarterly Report

Commercial real estate: a market almost at a standstill in the 1st half of 2026

Colliers France sieht den französischen Gewerbeimmobilienmarkt im 1. Halbjahr 2026 nahezu im Stillstand. Ohne das 2,3-Bn.-€-Proudreed-Portfolio sinken die Investitionen um 29 % J/J; sechs Großdeals stellen 58 %. Büro schwach, Handel stabil, Logistik unter Druck; Paris-QCA-Prime 4.25%.

by Colliers

Markets

Analysis Quarterly Report

Residential is the strongest asset class in the first half of 2026

BNP Paribas Real Estate reports a residential investment volume of €4.4 billion for H1 2026, driven by more mid-sized deals; Major deals over €100 million account for 34%. Existing portfolios account for 47%, A-cities for 38%. Net prime yields rise by 5-10 basis points.

by BNP Paribas Real Estate

Markets Real Estate