Bremen's market for apartment buildings will be stable and with positive prospects in 2025. After a subdued market phase in 2023, the momentum has currently recovered significantly. With 216 sales and a sales volume of around 204 million euros, the market almost returned to pre-crisis levels in 2024. "Bremen is currently presenting itself as a reliable location for investors that can be planned in the long term. Market activity has calmed down significantly after the interest rate turnaround, and many investors have adjusted to the new level," says Jon-Hendrik Harms, Head of Apartment Buildings at Robert C. Spies. "In 2025, we have registered more movement in the market again, stable to slightly rising prices and an overall noticeably positive mood."
After a year marked by restraint in 2023, in which only 130 transactions with a total volume of 119 million euros were registered, the market has already picked up significantly in 2024. Buyers and sellers alike have adapted to the changed financing conditions, so that stable, lively market activity has established itself in 2025 – with solid foundations and increasing transaction activity.
"After the phase of sharply increased capital requirements, the banks have now relaxed the lending again," observes Jon-Hendrik Harms. In the case of suitable properties, financing is increasingly being realized up to 100 percent. This development is also stimulating the market and making it easier for regional investors in particular to enter or expand their portfolios.
Bremen's apartment building market continues to be dominated by regional and local private investors. "Small family offices also regularly invest in properties of up to around 10 million euros or 30 residential units in the Hanseatic city," reports the real estate expert. In addition, there is growing interest from supra-regional investors, who perceive Bremen as a sustainable investment location due to the moderate price level and attractive returns. Institutional investors, on the other hand, appear only sporadically.
In good and very good locations, slight increases in purchase prices can be observed. The multipliers here range between 19 and 22.5 times the annual net cold rent. In medium locations, the factors are between 15 and 17, while yield-oriented investors will continue to find interesting entry opportunities in simple locations. Especially in the sought-after districts of Schwachhausen, Findorff and Neustadt, the supply is limited, as owners postpone sales or have too high price expectations. "In these locations, we are observing high demand with a shortage of supply at the same time – this ensures a certain price stability," says Harms.
The supply of apartment buildings increased significantly in 2025 compared to previous years – the market is currently in a buyer's market phase. "Owners part with their properties primarily for tax or portfolio strategic reasons," says Jon-Hendrik Harms and continues: "While purely residential buildings usually find new owners at short notice, the marketing of mixed-use properties with a high commercial component takes a little longer." At the same time, value-add properties are in greater demand again, as investors see potential for value appreciation here.
The rent level is rising slightly: in 2025, the average rent in Bremen will be 10.50 euros per square metre, the prime rent will be 14.50 euros per square metre. With 1,354 apartment completions in 2024 – around 3.8 percent less than in the previous year – new construction activity currently remains subdued, which further strengthens demand for existing properties.
Interest rates remain stable, which further improves investment conditions. Prices are likely to rise slightly in good and very good locations, but the market environment will remain stable overall. "Bremen convinces with an attractive price-performance ratio compared to other major cities," Harms sums up. "We assume that demand will remain high in 2026 and that the market will develop stably in the long term – with good opportunities for investors who appreciate the location and its qualities."
