FIRST PLACE IN THE CITY RANKING
In the first quarter of 2026, the Munich investment market was able to create a good basis for the rest of the year: With a transaction volume of around €740 million, the weak result of the previous year was exceeded by almost 46%. Over the past five years, good results have been slightly above the €1 billion mark (Q1 2024: €1.28 billion), while lower volumes were tending towards €500 million (Q1 2025: €508 million). Thus, the current volume is exactly between the pleasing and the more subdued starts to the year since 2022.
In this context, it is noteworthy that year after year, prominent major deals are recorded in Munich which are among the largest transactions of the respective quarter in their asset class or even nationwide. An example is the recent sale of the Alte Akademie which is the largest single retail transaction of the first three months in Germany. Especially against the background that major deals continue to be observed rather sporadically and often drag on over long marketing periods, it is all the more pleasing that Munich repeatedly records such transactions thanks to its very good framework conditions and prospects. However, the number of deals, which at over 20 has been high both in comparison with the A-cities and compared to recent years, also speaks for good market dynamics.
Since the end of 2025, no market-relevant shifts have been observed in prime yields. This implies that premium retail assets in Munich note at 3.45%, prime office yields are at 4.20% and in the logistics sector, a net prime yield of up to 4.50% can be achieved.