ONCE AGAIN RANKED 2. IN THE LOCATION RANKING, PARTLY POSITIVE TRENDS IN PROPERTY TYPES
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At the mid-year point, the Munich investment market recorded a commercial investment volume of just under €920 million. This figure was approximately 38% lower than last year's and nearly 56% lower than the 10-year average.
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At first glance, this result seems discouraging. However, the transaction volume up to €100 million is higher than in the previous two comparison periods. While large-volume investments in the triple-digit millions were included in previous years' results – such as the sale of Fünf Höfe for over €700 million in 2024 – the volume in this segment has been significantly lower till now.
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Another factor indicating a continued general recovery trend in the markets is that the investment volume in office, logistics, and hotel properties has, in some cases, significantly surpassed the levels achieved in 2024. Retail real estate is the only sector that remains below the previous year's level, though it benefited considerably from the sale of the Fünf Höfe last year.
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In a nationwide comparison, the Bavarian capital ranks in a solid second place behind Berlin (around €1.3 billion). Against the backdrop of the developments outlined above, market activity in Munich appears more dynamic than is reflected in transaction volume to date.
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Prime yields have remained stable since the beginning of 2023. Office properties are listed at 4.20%, premium high street buildings in prime retail locations are listed at 3.45%, and logistics properties notes at 4.25%.