The Baker Tilly Market Report Q3/2026 shows that the German real estate market is moving sideways despite brighter economic sentiment. Rising interest rates are increasing refinancing pressure, investors are acting selectively; healthcare properties are attracting capital.
The BID criticises the short-term conversion of KfW BEG funding from 21 July 2026. New BzA confirmations are not possible until then; Applications only with an existing BzA ID until 20 July, 8 p.m. The BID calls for reliability and transparent transitions.
The European hotel investment market will show positive developments in 2026, while Germany will be selective. Operator structures are seen as central value drivers, which shapes investors' assessment of operator quality and contract structures.