Market comments on the climate protection programme of the German government: "The direction is right, but the effect is not decided on the street, but in the building."

The climate protection programme noticeably intensifies the pressure for transformation in the real estate sector, especially through higher requirements for efficiency and heat supply. For owners and investors, energy efficiency is thus becoming even more central to economic decisions, while non-modernised portfolios are becoming less attractive and risk-building. At the same time, new leeway is being created by subsidies, renewable energies and an increasing demand for sustainable buildings. It is crucial to align investments with regulatory developments and municipal heat planning at an early stage.