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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

Analysis Quarterly Report

Savills examines real estate investment market in Germany: Transaction volume stable, liquidity remains limited

Savills reports a transaction volume of around EUR 14.7 billion for H1 2026 – stable compared to the previous year, with continued limited liquidity and weaker Q2. Healthcare/social real estate is above the 10-year average. Savills expects a transaction volume of around 35 billion euros in 2026.

by Savills

Markets Real Estate

Deutscher Investmentmarkt in der ersten Jahreshälfte mit leichtem Umsatzplus

Analysis Quarterly Report

German investment market with slight increase in turnover in the first half of the year

BNP Paribas Real Estate reports an investment volume of €16.6 billion (+5%) for H1 2026. Residential remains the strongest asset class at €4.4 billion, commercial €12.3 billion (+8%); office (€3.2 billion). Munich is in the lead (€1.2 billion). Net prime yields rose industry-wide in Q2.

by BNP Paribas Real Estate

Markets Real Estate

Analysis Quarterly Report

Real estate investment market grew in the first half of the year

CBRE reports an investment transaction volume of EUR 16.2 billion (+13%) for H1 2026. Office growth significantly, logistics/industry stimulated the market, the top 7 locations gained in importance; pricing is well advanced, with around 35 billion euros expected for 2026.

by CBRE

Markets Real Estate

Belebung auf dem Wohninvestmentmarkt trifft auf selektive Investorenstrategien

Analysis

Revival in the residential investment market meets selective investor strategies

The German residential investment market is stabilizing: H1 2026 with EUR 3.6 billion (−10% YoY), Q2 increased by 17% compared to Q1. 97 transactions (+8% YoY, +76% vs. H1 2023). Investors focus on cash flow and affordable housing; H2 is likely to become busier.

by CBRE

Markets Real Estate Real Estate

Analysis Quarterly Report

Four forward, one back – moderate market recovery takes a break

Colliers reports a transaction volume of 15.1 billion euros for H1 2026, almost at the previous year's level. In Q2, the market cooled due to the Iran conflict and stricter financing; Yields are rising. Around 25 billion euros are expected for 2026 and opportunities for active buyers.

by Colliers

Markets Real Estate

Analysis Report

DAVE: Germany responds to heat waves with air conditioning instead of strategies for heat-resilient buildings and cities

DAVE criticizes the focus on air conditioning and calls for holistic strategies for heat-resilient buildings and cities. Cooling is to be part of a system of structural heat protection, greening, efficient grids, PV, storage and load management. The priority is the existing building.

by Deutsche Anlage-Immobilien Verbund (DAVE)

Quarterly Report

Savills examines German residential real estate investment market: Number of transactions is rising, while the market remains fragmented

In the 1st half of 2026, the residential investment volume was around EUR 3.8 billion (-5% year-on-year), and the number of transactions rose to around 110 (+20%). The prime yield remained stable at 3.6%. Project developments accounted for 25% of the volume, mostly with public housing companies.

by Savills

Markets Real Estate

Analysis Quarterly Report

JLL: The German investment market confirms its moderate upward trend

The real estate investment market in Germany is continuing its moderate upward trend: at the end of the first half of 2026, around EUR 17.6 billion was turnover, around 15 percent more than in the previous year. Individual deals increased, portfolios remained weak; Foreign investors accounted for 44 percent, and prime office yields rose.

by JLL

Markets Real Estate

Analysis Quarterly Report

Smaller tickets form the new core foundation in the residential investment market

In the German residential investment market, smaller, more easily financed deals are driving growth. In H1 2026, the volume was EUR 4.2 billion (-3%), individual transactions dominated (64%), top 7 cities 56%. Yields +25-30 bp, financing remains a bottleneck.

by Colliers

Markets Real Estate

Analysis Quarterly Report

NAI apollo: German transaction market for residential portfolios shows slight upturn in mid-2026

NAI apollo reports a slight revival in the German transaction market for residential portfolios in mid-2026. Q2 reached 2.44 billion euros and the half-year 4.47 billion euros, excluding mega deals. Public buyers lead, forward deals declined after a strong start to the year.

by NAI apollo

Markets Real Estate

Quarterly Report

BF. Quarterly Barometer Q2 2026: Sentiment among real estate financiers collapses

The BF. Quarterly barometer of BF.direkt AG fell from -9.74 to -25.97 points in Q2 2026, signalling a severely limited willingness to finance. The causes include the Iran war with fears of inflation and interest rates. Conditions, new business and volumes are deteriorating.

by BF.direkt AG

Markets Real Estate

Analysis Quarterly Report

Hamburg office market: Portfolio development comes into focus

By mid-2026, Hamburg's office market will have taken up 221,000 m² of space, with the prime rent rising to EUR 35.20/m². Quality remains decisive, portfolio development and conversions are increasing; 400,000–450,000 m² are expected for the year as a whole.

by Robert C. Spies KG

Markets Real Estate

Net public electricity generation from photovoltaics reached record levels in the EU in the first half of 2026. © Fraunhofer ISE/energy-charts.info

Analysis Report

Solar Power on the Rise Across Europe

Fraunhofer ISE reports a RE share of 61.8% of public net electricity generation in Germany for H1 2026. Wind increased, and photovoltaics reached a record level of 43.2 TWh. Despite more storage, a memory gap remains; Electricity prices are largely decoupling from gas.

by Fraunhofer-Institut für Solare Energiesysteme ISE

Analysis Comment

Conversion requirement instead of conversion ban is good! Thomas Aigner on the new “Gewerbe zu Wohnen” funding programme

Thomas Aigner welcomes the federal program "Gewerbe zu Wohnen" (300 million euros, up to 30,000 euros per unit, 300,000 euros per investor) as an important signal, but not a game changer. Munich is planning relaxed requirements and subsidies with rent control – harbours yield dilemma. Demanded: less bureaucracy.

by Aigner Immobilien GmbH

Markets Real Estate

Analysis Report

“Aengevelt: Massive decline in incoming orders in building construction.”

Aengevelt reports sharp declines in new orders in building construction for April: commercial/industrial −29.5%, public building construction −32.3%. Since new orders are considered a leading indicator, declining completions are expected in 1.5 to 2 years.

by Aengevelt Immobilien

Markets Real Estate

Analysis Report

Baker Tilly Real Estate Market Report: Ambivalent signs – but the mood remains reserved

Baker Tilly presents its real estate market report Q2/2026: Ambivalent macro signals, a restrictive credit environment and subdued sentiment characterise the market. The failed sale of the Opera Tower underlines financing bottlenecks; selective opportunities for investors with strong equity.

by Baker Tilly

Markets Real Estate

Analysis Quarterly Report

JLL: Companies put more properties on the market again in 2025

JLL reports higher corporate real estate sales for 2025: In Germany, the volume rose to EUR 2.6 billion (+13%). EMEA-wide, sales amounted to EUR 19.4 billion (+25%, 553 deals). Industry/logistics increased, offices lost; Sale-and-leaseback remained a driving force.

by JLL

Markets Real Estate

Analysis

NAI apollo: Leasing activity on the Frankfurt office space market remains subdued, prime rent at a new high

Frankfurt's office space market will remain subdued in the 1st half of 2026: take-up amounts to 150,300 m² and is around 30% below medium- and long-term figures. There are no major deals, the prime rent rises to €55.00/m², and the vacancy rate to 11.6%.

by NAI apollo

Markets Real Estate

Analysis

Hotel valuation report – German hotel industry benefits from domestic tourism – real estate values increase moderately

bulwiengesa and Union Investment see a moderate increase in the value of German hotel properties of around 2.8% in 2025. The investment-relevant market volume grows to EUR 66.1 billion; Transactions add up to EUR 1.9 billion. Conversion and transformation projects continue to gain relevance.

by Union Investment Real Estate

Markets Real Estate

Analysis Forecast Report

Solar and storage hybrid projects to dominate India’s renewable auctions in 2027–30, says GlobalData

GlobalData expects solar-plus-storage hybrids to dominate renewables auctions in India 2027–2030. Tenders are increasing sharply; SECI awarded 1.2 GW of solar with 3.6 GWh of storage in January 2026. Auction design, network infrastructure and regulation are decisive.

by GlobalData

Dr. Wulff Aengevelt, geschäftsführender Gesellschafter Aengevelt Immobilien (Credits: Aengevelt Immobilien)

Analysis Comment Forecast Quarterly

“Aengevelt sees rising prices for residential real estate regardless of interest rate developments.”

According to Aengevelt, the house price index has risen for six quarters in a row; in the 1st quarter of 2026 by 1.4 percent compared to the previous year. The connection to construction interest rates is loosening. The market diverges regionally: highest growth in apartments in sparsely populated districts, in some cases declines elsewhere.

by Aengevelt Immobilien

Markets Real Estate

Foto von Paul Becker auf Unsplash

Forecast News

Savills expects around 3.5 million square metres of new construction space on the European office market in 2026

Savills expects around 3.5 million m² of new office space in Europe in 2026 – stable compared to the previous year, but 28% below the 2022 peak. 21% of the 2025 projects have been postponed to 2026; In 2027, the volume is expected to fall to 2.7 million m². Speculative pipeline 1.5%, top vacancies 2–3%.

by Savills

Markets Real Estate

Analysis Discussion

KINGSTONE RE and ImmobilienResearch Vornholz: Special forms of housing for seniors remain a niche

The webinar by KINGSTONE Real Estate and ImmobilienResearch Vornholz shows that special forms of housing remain a niche for seniors; most continue to live in existing apartments. The need for barrier-free and care-related services is growing; Investors should adjust the portfolio.

by KINGSTONE Real Estate

Markets Real Estate