"The real estate market works, but selectively. While residential and logistics properties remain comparatively stable, other asset classes continue to be under pressure to adapt."

"The ECB's decision to leave key interest rates at the current level is right and consistent. Inflation in the euro area has fallen to 1.7 percent compared to January 2025, the lowest level since September 2024. However, this slight weakening is not yet a reason for the central bank to lower key interest rates, especially since inflation in services remains high at 3.2 percent. For the real estate industry, the existing interest rate level is challenging, but it can be planned. This predictability is currently more important than rapid interest rate cuts, which would raise false expectations in view of the rebound in inflation. Price pressure remains high, especially in the service sector and with wage-driven costs. The real estate market works, but selectively. While residential and logistics properties remain comparatively stable, other asset classes continue to be under pressure to adapt. Financing continues to materialize, but exclusively on the basis of viable business models and realistic valuations. Against this backdrop, monetary stability is currently the ECB's most important contribution to calming the markets."