Real Estate

Interest Rate Cycles and Real Estate Markets – Evidence from Historical Time Series

How do geopolitical tensions, inflation and monetary policy affect capital markets and real estate investment? This question was addressed in the May issue of Macro Matters – Investment Insights entitled "Interest Rate Cycles and Real Estate Markets – Evidence from Historical Time Series".

Private markets offer financing solutions during periods of geopolitical transition

Savills: European logistics leasing up 6% year-on-year, investors increasingly focus on stable earnings

Savills reports 6.6 million sqm of logistics lease across Europe in Q1 2026, +6% year-on-year; particularly active: Netherlands, UK, Belgium, Spain. Rents continue to rise (Prime Rent Index +1.3% q/q, +2.7% y/y). 2025: €43.3 billion; Q1 2026: €7.5 billion (-19.2%), focus on stable earnings.

Savills: “Postponed instead of cancelled” – Weak 1st quarter on the global real estate investment market with a better outlook

The global real estate investment volume fell to USD 230 billion in Q1 2026 (−5% compared to Q4). Savills sees opportunities for revival thanks to a strong pipeline (+18% transactions in Q2 yoy), provided that there is a rapid de-escalation in the Middle East. In Germany, sales amounted to EUR 8.2 billion (−24%).

Open- vs closed-ended funds – do the returns differ?

As more investors seek exposure to private markets, we examine whether the choice between open- and closed-ended funds matters for performance.

JLL study: By 2030, many data centers will be built in Germany beyond the metropolises

A JLL report shows that Germany's data center market will grow strongly beyond the metropolises by 2030. Frankfurt remains in the lead, Berlin is growing the most; large-scale decentralised projects are being built in Hamm and Lübbenau, among other places. Market volume could rise to $12.84 billion; Energy is becoming a key factor.

Residential investment market remains stable, but investors are becoming more cautious – tightening of tenancy law is the biggest risk

A nationwide survey by SCHICK IMMOBILIEN shows that the residential investment market will remain stable in 2026, but market participants will become more cautious (index: 50.4). According to 82%, the biggest risk is a tightening of tenancy law; Interest rates and inflation are becoming more important.

“Aengevelt: Every new apartment relieves the housing market.”

On the basis of several studies, Aengevelt confirms that every new-build apartment – even in the high-price segment – relieves strained housing markets via relocation chains. Depending on the type, up to 269 existing apartments become available for every 100 new buildings; low-income households will benefit in particular.