"With a view to 2026, the focus on the real estate markets should therefore be on cash-flow-stable investments in sectors and sub-markets with long-term support ... "

"The result of the last ECB interest rate decision of 2025 follows the expectations of market participants and capital markets. With the key interest rate level unchanged, the ECB is continuing its course. It is thus in a comfortable starting position for 2026, in which the capital markets are likely to remain volatile again due to the existing economic and political uncertainties. In addition to issues such as global trade policy, rising debt and increased financing costs, these also include the system change in the investment of Dutch pension funds and risks from the declining attractiveness of yen carry trades, which have risen sharply in volume in recent decades.With a view to 2026, the focus on the real estate markets should therefore be on cash-flow-stable investments in sectors and sub-markets with long-term support – the important factors are: intact megatrends, a structural excess demand and tenants with strong credit ratings. In addition to residential properties in the growth regions, this also includes modern office and logistics properties in the sector-specific central and dominant locations, medical centres and healthcare properties as well as local supply properties in the retail sector."