Transaction volume at around €2 billion, in line with the previous quarter
Volume of €6.3 billion in 2025 to date exceeds previous year’s figure
Market activity picking up in relation to project developments and mid-size portfolios
Open-ended funds & special funds remain the most important buyers, project developers & contractors dominate on the seller side
Share of foreign capital rises significantly, with a focus on large-volume portfolios
Outlook: Transaction activity remains stable, underpinned by mid-size portfolio deals. Investments in project developments and long-term strategies with a manage-to-green approach remain in demand. Further portfolio adjustments by larger property companies will contribute to market recovery in 2026.
Market for residential portfolios in Germany defies economic uncertainty with total investments of €2.3 billion in the first quarter of 2025
Following a rise in purchase and sales volumes, Open-Ended Funds and Special Fundsrepresent the second strongest buyer as well as the dominant seller group ahead of Project Developers and Contractors
Increase in portfolio trading in the mid-price segment; decrease in the category below €10 million
Outlook for 2025: General conditions remain challenging. Portfolio streamlining of properties in need of refurbishment, fire sales and resilience of the residential property markets are boosting transaction activity, however. A dynamic start to the year and increased investment interest on the part of institutional market players indicate that the €10 billion mark will be exceeded, as was most recently the case in 2022.
Take-up of 202,100 sqm represents one of the strongest Q1 results on record
Banks, financial service providers and insurance companies dominate the market
58 % of take-up lies within the Central Business District
Rise in vacancies is halted
Increase in rents owing to large lettings in projects, new buildings and refurbishments: prime rent now at €51.50/sqm and average rent at €30.60/sqm
Positive outlook for 2025: further major deals are close to completion; financial package from the new government will help boost demand for office space
NAI apollo: Rhine-Main logistics space market reaches 249,000 sqm in the first half of the year after an upturn in activity
Take-up in second-quarter of 2024 reaches 159,900 sqm and exceeds prior and year-ago quarters
Result primarily based on new building activity and sublettings
Take-up in large-space segment increases by 170 %
Industry and manufacturing represents the most important user group, followed by logistics service providers, while retailers remain less active
Broad distribution of market activities within the market area
Outlook: demand for space to remain at a high level; the supply of space is still insufficient owing to a lack of speculative building activity; weakening economy additionally slows down market activity in some cases; annual take-up at previous year’s level, and further rental price growth is expected
Transaction volume at €2.4bn, the highest quarterly level in a year and a half
Half-year result of €3.2bn represents lowest level since 2011
Increasing transaction activity in smaller portfolio segment
Public Sector quadruples purchase volume and is now the strongest investor group
Project Developers & Contractors as well as Listed Property Companies & REITs are the most active sellers
German investors are dominant on the buy-side with a share of almost 80 %, foreign players invest 33 % less
Outlook for 2024: sluggish economic development proves challenging for residential property market performance; market activity intensifies amid rising rents, an advanced bottoming out of prices and signs of stabilisation in interest rates; ongoing pressure to sell as part of refinancing measures and to secure liquidity, Berlin remains a hotspot for major investors.
Growth in new-building segment owing to a large lease signing
Large spaces account for highest share of take-up
Greatest demand came from industrial and manufacturing companies, while take-up by retailers was much lower
Outlook: difficult economic environment hampers market activity; space shortages remain the biggest problem; new developments remain scarce owing to high costs and a lack of suitable sites; sustained growth in rents can be expected
