SOLID START TO THE YEAR
The Stuttgart investment market for commercial real estate recorded a transaction volume of €177 million in the first quarter of 2026. This means that there is still a significant gap compared to the long-term average (-50% vs. Ø 10 years: €351 million); however, the volume is higher than in the very weak first quarters of the two previous years. Overall, there has been an increase in closing activity: With around a dozen deals, the highest transaction frequency since Q1 2022 was registered. However, the average deal volume is only around €15 million .
The office asset class made a significant contribution to the transaction volume with €110 million. These include the purchase of KarlsOffice by the Stuttgart-based family office THI Investments, which was made public in January 2026. This underlines the gradual recovery in demand for high-quality office properties, especially in the core segment.
In a twelve-month comparison, net prime yields show varying degrees of yield decompression in the asset classes. Office properties rose by 10 basis points to 4.50%, while retail buildings in prime high street locations rose by 15 basis points to 4.00%. The most significant increase in yields was 25 basis points for logistics properties, which currently yield 4.50%.