VOLUME SIGNIFICANTLY ABOVE PREVIOUS YEAR
The German investment market started 2026 with a transaction volume of just over €6.9 billion. This significantly exceeded the previous year's result by around 16%. It is particularly positive that the number of registered transactions by the end of the first quarter was above the 300 deal mark for the first time since 2022. The dispute in the Middle East, which has escalated further since the end of February, with its possible implications for energy supply, inflation, interest rates and thus financing, cannot yet be fully reflected in the current figures. Nevertheless, even after the conflict escalated in March, a whole series of transactions were successfully signed.
Net prime yields were broadly stable across the board at the start of the year. However, there were slight upward adjustments in some cases. Since the beginning of the year, the net prime yield for office properties in Berlin and Stuttgart has risen by 10 basis points to 4.35% and 4.50% respectively. In the high street segment, there were adjustments in Berlin and Cologne by 10 basis points each to 3.95% and 4.00%, respectively, and in Stuttgart by 5 basis points to 4.00%. Shopping centres (5.90%) are yielding 10 basis points higher nationwide. There were no changes in the segments of logistics (Ø A-locations 4.50%), supermarkets/discounters (4.65%) and food-anchored retail parks (4.65%).