On Wednesday, EXPO REAL, the leading property trade fair, drew to a close in Munich, having attracted around 42,000 trade visitors. It became clear that the usual ‘speed dating’ sessions are taking place under conditions that have long since become the new normal. The market remains challenging, whilst at the same time the conditions for transactions are becoming clearer.
Three trends are emerging:
- Specialisation trumps breadth. Specific expertise and a proven track record are becoming increasingly important.
- Secured capital enables action. Equity and robust financing are a decisive advantage and remain a prerequisite for successful transactions.
- Deals need a catalyst. Refinancing, liquidity requirements or strategic reorientation encourage owners to sell and bring sellers and buyers together.
The discussions are therefore shifting back towards the point of sale: there is less storytelling, but greater clarity on price, financing, cash flow and implementation.
2026/27 won’t be any easier. But this more mature realism once again creates better conditions for deals – for those who are able to act within the new normal.
And one thing remains certain: the property sector is a people’s business. Personal interaction and trust remain the foundation, even – and especially – in a market where decisions are increasingly made on the basis of facts. Artificial intelligence can make processes more efficient and help prepare decisions more effectively, but it cannot replace the trust and personal communication between the people involved.
