Real Estate

Real estate is the dominant asset class in the real assets sector, but also the most versatile.

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Real Estate analysiss

Infografik zum Bürovermietungsmarkt Düsseldorf H1 2026 mit Flächenumsatz, Fertigstellungen und Leerstandsquote.
Analysis Quarterly Report

JLL: Düsseldorf’s office market has class, but it lacks mass

JLL reports 112,200 m² (-8%) in Düsseldorf for H1 2026 and 60,300 m² in Q2 – supported by a KPMG lease of over 10,000 m² in One Plaza. Deals are concentrated on Kennedydamm, City and Nord. 70,200 m² of new construction, vacancy rate 11.8%, prime rent €46.

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Grafik zeigt die Entwicklung von Flächenumsatz und Leerstandsquote auf dem Kölner Bürovermietungsmarkt von 2016 bis Q2 2026.
Analysis Quarterly Report

Savills examines office leasing market in Cologne Q2-2026: Hardly any momentum – small-scale deals carry the market

Q2/2026: 73,200 m² were let in Cologne (-37% y/y; -46% compared to the 10-year average). vacancy rate 5.5% (+50 bp q/q); Prime rent 33.50 EUR/m² stable q/q, -2.8 % y/y; Median 17.50 EUR/m² stable. Small-scale deals dominate; 2026 sales expected to be below previous year.

MarketsReal Estate
Balkendiagramm mit Flächenumsatz und Leerstandsquote auf dem Bürovermietungsmarkt in Düsseldorf für die Jahre 2016 bis 2026, Quelle Savills.
Analysis Quarterly Report

Savills examines office letting market in Düsseldorf Q2-2026: Selective market between quality demand and rising vacancy rates

Savills analyses the Düsseldorf office letting market in Q2 2026: take-up in H1 2026 at 94,500 m² (-4% y/y; 34% below 10-year average), vacancy rate 9.0%. Prime rent stable at EUR 46.00/m² (+5.7% y/y). demand for modern, central space; Outlook: Revenue at previous year's level.

MarketsReal Estate
Infografik zum Hamburger Bürovermietungsmarkt im ersten Halbjahr 2026 mit Flächenumsatz, Fertigstellungen, Spitzenmiete und Leerstandsquote.
Analysis Quarterly Report

JLL: Hamburg’s office market struggles with fragmentation

Hamburg's office letting market recorded more deals in H1 2026, but 18% less space (189,300 m²). Big deals are missing; the Ø deal size decreases to 709 m². Prime rent remains at €41, vacancy rises to 7.2%; Largest deals include: MSC 13,000 m², InnoGames 8,600 m².

MarketsReal Estate
Grafik mit Flächenumsatz und Leerstandsquote des Frankfurter Bürovermietungsmarkts von 2016 bis Prognose 2026, Quelle: Savills.
Analysis Quarterly Report

Savills examines the office leasing market in Frankfurt am Main: Longer decision-making processes among users; Top space remains in demand

Frankfurt's office letting market: H1 2026 Take-up 157,200 m² (-54% year-on-year; 26% below 10-year average). vacancy rate 14.1% (stable), prime rent 56.00 EUR/m² (+3.1% on the previous quarter; +9.8% on the previous year); Decisions take longer, top locations remain in demand.

MarketsReal Estate
Analysis Quarterly Report

Retail investment market: Good number of deals not reflected in volume

By mid-2026, the retail investment market is seeing many deals, but a volume down by around 21% to around €2.3 billion. Q2 was weak (approx. €892 million) after €1.37 billion in Q1. A locations are increasing; Prime yields in some cases slightly higher (DIY stores 6.20%, shopping centers 6.00%).

MarketsReal Estate
Frankfurter Büromarkt: Mietpreise dürften weiter steigen
Analysis Quarterly Report

Frankfurt office market: Rents likely to rise further

Rents on the Frankfurt office market are expected to continue to rise, especially in the CBD. High construction costs and ESG requirements are making supply scarce; since 2020, construction costs have risen by around 52%, while prime rents have risen by only 16%. Newmark expects €54/m² in 2026 and advises tenants to act early.

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München: Dynamik am Bürovermietungsmarkt nimmt Fahrt auf, Immobilieninvestmentmarkt auf dem Weg zurück zur Normalität 
Analysis Quarterly Report

Munich: Momentum in the office letting market picks up speed, real estate investment market on the way back to normality

Munich's office letting market recorded take-up of 335,600 m² in H1 2026; Demand for high-quality city locations drives rents (prime rent €62/m²), vacancy rate falls to 8.1%. The investment market picks up to €1.27 billion, prime office yield 4.40%. Outlook: approx. 600,000 m² annual turnover.

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