• The report serves as a basis of decision-making for the care home market – Analysis of the care market data of each federal state

• Importance of care homes is increasing

• Non-transparency and rigid regulations slow down the market

Wettbewerb um Core-Immobilien wird 2017 deutschlandweit noch intensiver

• Deutsche Wirtschaft weiter auf Wachstumskurs

• Deutschland gilt aus Investorensicht als „sicherer Hafen“ – steigende Nachfrage nach Immobilien lässt auch für 2017 ein hohes Transaktionsvolumen erwarten

• Nach dem Rekordjahr 2016 auf den Bürovermietungsmärkten ist aufgrund des begrenzten Angebots an Topflächen für 2017 von weiter steigenden Büromieten auszugehen

• Einzelhandelsmarkt ist geprägt von hoher Nachfrage bei gleichzeitig limitiertem Angebot – alternative Investmentmöglichkeiten rücken verstärkt in den Fokus

• Logistikmarkt performed dank nachhaltig robuster Fundamentaldaten weiterhin sehr gut

• Hotellerie dank steigender Übernachtungszahlen weiter im Aufwind

• Pflegeimmobilien erzielen als konjunkturunabhängige Investmentnische Rekordergebnisse, erfordern aber detailiiertes Know-How des Marktes

• Wohnimmobilienmarkt ist auch international beliebtes Anlegerziel – Aktionsradius der Investoren wird auf B-Standorte, Projektentwicklungen und Studentenwohnheime weiter ausgedehnt

• Sustained strong momentum on the commercial real estate investment market

• Record figure at mid-year 2017: €25.8bn invested
• Numerous large-scale portfolio transactions dominate first half year
• Investment volume in the top locations up 20% year on year – Berlin and Frankfurt as the strongest top markets
• Logistics real estate the up-and-coming asset class with meanwhile 19% of the transaction volume
• 48% foreign investors, of which 13% from Asia
• Heterogeneous investor landscape
• Transaction volume of more than € 50bn realistic for the full year

• Transaction volume of €5.9bn significantly higher year on year
• Top locations remain the focus of investors – North Rhine-Westphalia becoming increasingly attractive
• Sustained pressure to invest causing yield compression; net initial yield for existing stock averaging around 3.50%
• Stable transaction volume for the full year anticipated at the level of 2016

• Büroimmobilien weiterhin beliebteste Assetklasse im gewerblichen Segment

• Positive Entwicklungen an den Vermietungsmärkten erhöhen Attraktivität von Büroimmobilien

• Markanter Anstieg des Transaktionsvolumens insbesondere in Regionalzentren und B-Standorten

• Internationale Investoren wieder stärker am Markt vertreten

• Renditekompression setzt sich fort – auch in sekundären Lagen der Topstandorte

• Transaktionsvolumen von bis zu 25 Mrd. € im Gesamtjahr erwartet

• Office investment market off to a very strong start to 2017 
• Office real estate remains the uncontestably strongest asset class with 45% of the overall volume at the German commercial real estate investment market; the five-year average for a starting quarter was exceeded by almost 50%
• 75% of the entire office investment volume goes to Top 7 locations
• Stable foundation for office investment due to the very robust economic development, of which the office letting markets are reaping the benefits thus secure long-term cash flows
• International investors show greater investment dynamics again – at €2.1bn, their investment volume almost doubles in a year-on-year comparison
• The prime yields for first rate office properties continued to decline in the first quarter; the average prime yield for the Top 5 locations currently stands at 3.49%

• International investors in particular are on the lookout for large-scale investment opportunities in Germany
• Currency profits as additional incentive to buy for international real estate investors
• The debt environment for property investments is expected to remain quite favorable in Germany despite the recent slight upward shift of the yield curve
• Due to positive exchange rate effects against the British Pound and the US Dollar denominated investors Euro-denominated real estate investment markets seem relatively attractive
• Similar effect should arise out of the Canadian Dollar and Australian Dollar denominated investors
• Additional positive effects thanks to lower financing costs

• German retail market globally sought-after as expansion location

• German retail letting market 2016 narrowly misses previous top results

• German concepts particular active on domestic market

• Record level of new market entrances of international retail and food & beverage concepts

Factory Outlet Centre (FOC) or Outlet Centre (OC) are developing into an indispensable part of the European and Germany retail scene. Taking into consideration the permanently rising number of assets, FOCs have not only turned into an inherent sales channels for the distribution strategy of brand manufactures and retailers, but also into an increasingly sought-after asset class among property investors. Tenants as well as investors of outlet stores are expecting high revenues and yields. Rising investment volumes and the more diversified group of investors are indicating that the former special retail property is establishing itself as independent asset class on the commercial real estate market.

By: Jan Linsin, Ph.D., Head of Research Germany

Germany's population is ageing; its number of care-dependent people will rise substantially in the coming years. There is a great need for expansion and renovation in Germany's care accommodations, if demand is to be met. With this demographic shift—as well as declining yields on traditional assets and health properties’ increased resistance to the business cycle—investor interest in this asset class has increased significantly, and the market is expected to continue to grow.

• Strong investment activities ongoing in the German logistics investment market – investment volume rises for the fourth time in a row
• Investment turnover posts €1.5bn in the last three months of 2015 alone – strongest quarterly result since records began
• Demand for distribution buildings dominate the logistics investment market
• Above-average demand by international players for German logistics properties – share climbs to 62%

• Germanys commercial real estate investment market heading for a banner year
• Letting turnover on Germany's Top 5 office markets keeps surging
• The investment boom on the market for German retail properties continues unabated. Retail letting market remains dynamic as well
• After a restrained start to the year, the logistics investment market is catching up step by step
• The residential segment continues to be one of the favoured investment targets on the German real estate market
• Hotel investment in Germany continues to reach new records with a transaction volume grown by 40% up on year-to-September 2014 levels