Real Estate

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

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Analysis Quarterly Report

NAI apollo: German transaction market for residential portfolios shows slight upturn in mid-2026

NAI apollo reports a slight revival in the German transaction market for residential portfolios in mid-2026. Q2 reached 2.44 billion euros and the half-year 4.47 billion euros, excluding mega deals. Public buyers lead, forward deals declined after a strong start to the year.

MarketsReal Estate
Analysis Quarterly Report

Hamburg office market: Portfolio development comes into focus

By mid-2026, Hamburg's office market will have taken up 221,000 m² of space, with the prime rent rising to EUR 35.20/m². Quality remains decisive, portfolio development and conversions are increasing; 400,000–450,000 m² are expected for the year as a whole.

MarketsReal Estate
Analysis Comment

Conversion requirement instead of conversion ban is good! Thomas Aigner on the new “Gewerbe zu Wohnen” funding programme

Thomas Aigner welcomes the federal program "Gewerbe zu Wohnen" (300 million euros, up to 30,000 euros per unit, 300,000 euros per investor) as an important signal, but not a game changer. Munich is planning relaxed requirements and subsidies with rent control – harbours yield dilemma. Demanded: less bureaucracy.

MarketsReal Estate
Porträt von Dr. Wulff Aengevelt, Geschäftsführender Gesellschafter Aengevelt Immobilien
Analysis Report

“Aengevelt: Massive decline in incoming orders in building construction.”

Aengevelt reports sharp declines in new orders in building construction for April: commercial/industrial −29.5%, public building construction −32.3%. Since new orders are considered a leading indicator, declining completions are expected in 1.5 to 2 years.

MarketsReal Estate
Porträt von Andreas Röhr, Partner im Bereich Real Estate Valuation bei Baker Tilly.
Analysis Report

Baker Tilly Real Estate Market Report: Ambivalent signs – but the mood remains reserved

Baker Tilly presents its real estate market report Q2/2026: Ambivalent macro signals, a restrictive credit environment and subdued sentiment characterise the market. The failed sale of the Opera Tower underlines financing bottlenecks; selective opportunities for investors with strong equity.

MarketsReal Estate
Diagramm: Gesamtvolumen von Unternehmensverkäufen in Deutschland in Milliarden Euro von 2011 bis 2025.
Analysis Quarterly Report

JLL: Companies put more properties on the market again in 2025

JLL reports higher corporate real estate sales for 2025: In Germany, the volume rose to EUR 2.6 billion (+13%). EMEA-wide, sales amounted to EUR 19.4 billion (+25%, 553 deals). Industry/logistics increased, offices lost; Sale-and-leaseback remained a driving force.

MarketsReal Estate
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%.

MarketsReal Estate
Luftbild des Steigenberger Grandhotel mit Außenpool und Terrasse, Gäste sitzen unter Sonnenschirmen.
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.

MarketsReal Estate

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