STRONGEST FIRST-HALF RESULT SINCE 2022
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The German healthcare investment market largely carried its strong start to the year into the second quarter, albeit at a slightly more moderate pace. With a transaction volume of €1.6 billion, the market recorded its strongest first-half result since 2022, exceeding the long-term average by 30%. Against the backdrop of ongoing macroeconomic uncertainty and geopolitical risks, this represents a remarkably resilient performance.
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While the number of transactions remained broadly in line with the previous year, the deal structure shifted significantly. Portfolio transactions played a much more prominent role than in recent years. With a volume of almost €1.4 billion, portfolios accounted for approximately 84% of total investment activity, substantially above the long-term average share of 55%.
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Following the sale of two nationally diversified portfolios in the first quarter, a rehabilitation clinic portfolio changed hands in the second quarter at a purchase price in the mid-three-digit million-euro range. These large-scale portfolio transactions underline the ongoing recovery of the investment market and reflect renewed interest from institutional investors.
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Compared to year-end 2025, the prime yield increased by 30 basis points and currently stands at 5.20%.