At a Glance Q3 2023

Investment market Germany

Investmentmarkt Deutschland


Momentum on the commercial investment markets remained subdued in the third quarter, but nevertheless showed a slight upturn compared with previous quarters. A total of just under €16.3 billion had been invested in commercial real estate by the end of September. Compared with the record figure for the previous year, the decline in investments amounts to around 63%, although the informative value of this comparison is very limited due to the non-comparable financing environment. However, the 10-year average is also undercut by 55%, underlining the current moderate market activity. The transaction volume to date thus remains at roughly the same level as in the years shortly after the financial crisis, albeit with an upward trend. The portfolio segment in particular is showing a slight upturn: At around €2.6 billion, twice as much was invested in portfolios between July and September as in the first half of the year as a whole.

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