BERLIN ONCE AGAIN AT THE TOP OF THE A-LOCATIONS
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The transaction volume in Berlin totalled around €3.25 billion, slightly below the previous year's result (-8.5%). The average of the last three years, on the other hand, was slightly exceeded at just under 5%. Against the backdrop of the still difficult environment for the investment markets, the result is quite satisfactory. This is especially true as around one billion euros of last year's turnover is attributable to the sale of Signa's KaDeWe to the Central Group. If this extraordinary deal is disregarded, the investment volume would have increased by almost a quarter. The largest transaction of the year in the capital was the sale of the Upper West for more than €400 million.
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As in previous years, Berlin has again taken the lead in 2025 by a wide margin. With €3.25 billion achieved across all asset classes, the capital is well ahead of Munich with €2.56 billion (-5% compared to 2024). The ranking is completed by Hamburg with almost €1.9 billion (-17% compared to 2024).
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Different developments can be observed in prime yields. While 4.25% is to be applied to offices, as in the previous year, prime yields for both premium high street buildings in prime retail locations rose by 15 basis points to 3.85% and for logistics properties by 25 basis points to 4.50%.