Real Estate

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

Real Estate analysiss

Analysis Quarterly Report

Frankfurt office market: Half-year figures below strong previous year’s result as expected, prime rent continues to rise

The Frankfurt office market recorded around 173,000 m² of take-up after H1 (150,000 m² in the gif area), 53% below the previous year. average rent €28.30/m², prime rent €57.00/m²; some >70 €/m². Outlook: Stabilisation, annual take-up of around 420,000 m².

Halbjahresumsatz auf dem Berliner Büromarkt übertrifft bereits Q3-Ergebnis von 2025
Analysis Quarterly Report

Halbjahresumsatz auf dem Berliner Büromarkt übertrifft bereits Q3-Ergebnis von 2025

The Berlin office market generated around 373,000 m² of take-up in the 1st half of 2026, already exceeding the Q3 result for 2025. Q2 with 227,000 m² benefited from large owner-occupier deals by the public sector. Prime rent at €47/m² (top up to €50), vacancy rate 2.1 million m² or 9.6%.

Analysis Quarterly Report

Savills examines office letting market in Munich Q2-2026: Isolated demand impulses without broad market recovery

In the first half of 2026, 333,200 m² was taken up on the Munich office market (+16% year-on-year). Vacancy rate rose to 9.4% (+20 bps q1), prime rent to 60.00 EUR/m² (+1.7 % qoq; +11.1 % yoy), median 23.50 EUR/m² (+2.2 % qoq, unchanged yoy). Savills expects higher sales in 2026.

Analysis Quarterly Report

Savills examines office letting market in Berlin Q2-2026: More movement with continued high quality standards

In the 1st half of 2026, 405,100 m² of office space was taken up in Berlin (+49% year-on-year); the vacancy rate rose to 9.0%. The prime rent was EUR 50.00/m² (+2.5% quarter-on-quarter), the median rent was EUR 24.00/m². Savills expects more take-up in 2026; Quality remains in demand.

Analysis Quarterly Report

JLL: Take-up in Munich’s office market grows by a third

The Munich office letting market grew significantly in Q2 2026: 182,600 m² (~+50% year-on-year); in the first half of the year 347,500 m² (+one third). The prime rent rose to €62/m², and the vacancy rate is 8.8%. JLL expects continued momentum and maintains 640,000 m² full-year forecast.

Analysis Quarterly Report

JLL: Substantial increase in take-up on the Berlin office market in the first half of the year

The Berlin office letting market grew strongly in Q2 2026: 238,000 m² of acquisition volume (+77% compared to Q2 2025), totalling 386,100 m² in H1 2026. Top locations remain in demand; the prime rent rose to €48/m². Most rentals in Mitte; JLL expects 600,000 m² for the full year.

Analysis Quarterly Report

Logistics investment volume down year-on-year

The German logistics investment market generated around €2.5 billion in the 1st half of 2026, 10% below 2025. In Q2, revenue rose by 16% quarter-on-quarter to just over €1.3 billion. Net prime yields climbed to 4.60% (Leipzig 4.80%), the foreign share was 74%.

Analysis Quarterly Report

JLL: Cologne’s office market hardly gets off the ground in the second quarter

The Cologne office letting market experienced a slump in Q2: only 26,900 m² newly let, 45% below the previous year; H1 totals 73,100 m². Many small closures (Ø 482 m²) characterize the picture; City leads the way with 31,800 m². 41,000 m² completed; Prime rent €32.50/m², possible plus by the end of the year.

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