From 2027, the feed-in tariff for new solar installations is set to be abolished. VREY founder Julius Pahmeier emphasises that PV on smaller blocks of flats with high self-consumption remains profitable: revenue shortfalls often amount to €120–400 per year, cash flows are €5,000–6,000 per year, and the payback period is approximately 10 years.
At Expo Real 2026, the halls were well attended despite prior cancellations; rather than interest rate cuts, discussions about further price falls dominated. High interest rates, construction costs and the new-build crisis are causing uncertainty. Munich remains a strong location; the bid to host the Olympics is bolstering its image.
At EXPO REAL 2026, industry representatives paint a realistic picture: financing remains challenging, transactions are stalling, and the focus is shifting to the existing property portfolio. At the same time, many report constructive discussions and opportunities relating to energy, digitalisation and infrastructure.
Mark Aengevelt takes stock of EXPO REAL 2026: The market remains challenging, yet the conditions for transactions are becoming clearer. Three trends are shaping the landscape: focus on quality rather than breadth, secured capital and event-driven deals. It remains a people’s business, complemented by AI.
VREY founder Julius Pahmeier refutes the claim that physical totalisers are superior to virtual ones. VREY has enabled shared building energy supply for around 3,000 households; virtual totalisers save 6,000–8,000 euros and reduce the effort involved.
The Baker Tilly Market Report Q3/2026 shows that the German real estate market is moving sideways despite brighter economic sentiment. Rising interest rates are increasing refinancing pressure, investors are acting selectively; healthcare properties are attracting capital.
A survey by Messe München shows a subdued real estate sentiment in August. Dr. Lutz Aengevelt disagrees: The mood has brightened in the last 6 to 8 weeks; Aengevelt is bringing more than 100 investment properties (approx. €1.5 billion) to EXPO REAL and expects intensive discussions.
Aengevelt criticizes media reports on the policy brief of the Hans Böckler Foundation. The paper does not explain why socialization should slow down rent dynamics and is not a solution to the housing shortage; it is therefore not suitable as an argument for socialization.
Thomas Aigner sharply criticizes the socialization plans of the Berlin Left. Expropriations do not create apartments, cause billions in costs and destroy the investment climate. He calls for a reduction in bureaucracy, land activation and consistent new construction instead of symbolic politics.
Ulrich Höller, Managing Partner of the ABG Real Estate Group, gave assessments of the market, financing, office and residential before Expo Real. He expects a slower normalization and opportunities through repositioning; significant recovery from H2 2027.
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