At a Glance Q4 2022

Office investment market Germany

Büro-Investmentmarkt Deutschland


The investment volume for office properties totalled €22.3 billion in 2022. This fell short of the previous year's strong result by almost 28 % and the 10-year average by around 10 %. The development of the investment volume throughout the quarters makes it clear that investors confidence in the German office market remains very high, while the financing conditions, which have changed significantly since the end of February, are responsible for the considerably lower transaction volume. Despite ongoing uncertainties regarding work-at-home, the office investment market started the year with a record result of € 9.8 billion.Both in the portfolio segment (acquisition of alstria by Brookfield, Alphabet Portfolio) and in single investments, there was significantly more movement in Q1 than before. The third quarter was also still comparatively strong at €5.7 billion. It was not until Q4 that the market momentum slowed down again noticeably and a weak year-end of €3.4 billion was recorded. Rising financing costs have led to a significant slowdown, especially in the large-volume core segment.

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