Real Estate

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

Real Estate analysiss

Analysis

NAI apollo: Leasing activity on the Frankfurt office space market remains subdued, prime rent at a new high

Frankfurt's office space market will remain subdued in the 1st half of 2026: take-up amounts to 150,300 m² and is around 30% below medium- and long-term figures. There are no major deals, the prime rent rises to €55.00/m², and the vacancy rate to 11.6%.

Analysis

Hotel valuation report – German hotel industry benefits from domestic tourism – real estate values increase moderately

bulwiengesa and Union Investment see a moderate increase in the value of German hotel properties of around 2.8% in 2025. The investment-relevant market volume grows to EUR 66.1 billion; Transactions add up to EUR 1.9 billion. Conversion and transformation projects continue to gain relevance.

Dr. Wulff Aengevelt, geschäftsführender Gesellschafter Aengevelt Immobilien (Credits: Aengevelt Immobilien)
Analysis Comment Forecast Quarterly

“Aengevelt sees rising prices for residential real estate regardless of interest rate developments.”

According to Aengevelt, the house price index has risen for six quarters in a row; in the 1st quarter of 2026 by 1.4 percent compared to the previous year. The connection to construction interest rates is loosening. The market diverges regionally: highest growth in apartments in sparsely populated districts, in some cases declines elsewhere.

Analysis Discussion

KINGSTONE RE and ImmobilienResearch Vornholz: Special forms of housing for seniors remain a niche

The webinar by KINGSTONE Real Estate and ImmobilienResearch Vornholz shows that special forms of housing remain a niche for seniors; most continue to live in existing apartments. The need for barrier-free and care-related services is growing; Investors should adjust the portfolio.

Quelle: BNP Paribas Real Estate
Analysis Report

Clustered and in waves: clear industry focus in the expansion activities of retailers from Asia

Asian brands are currently continuing to be very expansive in German city centre locations. The latest market entry is the South Korean label Moida K-Beauty for around 1,200 m² at Spitalerstraße 10 in Hamburg. This is the result of a recent analysis of Asian retailers in Germany by BNP Paribas Real Estate.

Analysis Article Report

New study by Wüest Partner: Heat stress is becoming a relevant location factor

A new study by Wüest Partner shows that heat stress is becoming a relevant location and building risk for the real estate industry. Densely populated areas in the southwest are particularly affected; even neighboring neighborhoods differ greatly. Investors and municipalities should adapt ESG analyses.

Dr. Wulff Aengevelt, geschäftsführender Gesellschafter von Aengevelt Immobilien. Bildquelle: Aengevelt Immobilien
Analysis Comment Forecast

“Aengevelt: Politics reduces rental housing supply.”

Aengevelt predicts a further decline in the supply of affordable rental apartments, as political regulations make renting unattractive. Up to three million apartments could fall out of rent; Small landlords react with sales, vacancies or conversions.

Analysis Discussion

Real estate financing remains under pressure in the second half of the year

At an online press conference organized by Rueckerconsult, Prof. Dr. Felix Schindler, Head of Research & Strategy at HIH Invest, Stefan Hoenen, Head of Commercial Real Estate at Hamburg Commercial Bank, Fabio Carrozza, CSO of BF.direkt AG, Torsten Hollstein, Managing Director of CR Investment Management, and Alexander Lackner, CEO of neworld, discussed the prospects of the financing market in the second half of 2026.

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