• Supply shortage curbs the transaction volume
• Commercial investment volume of €23.6bn in the first half year
• Only the retail segment delivers a higher transaction volume year on year
• Berlin stands out from other markets – higher investment volume than the sum total of Frankfurt and Munich
• Supply shortage behind significant decline in portfolio deals
• Ongoing yield compression – average prime yield for office properties in the Top 7 markets drops to 3.09%
• Outlook: year-end result unlikely to repeat the 2018 record

• Transaction volume of €6.7bn in the first half year
• B-cities and peripheries approaching Top 7 cities in terms of yield trend
• Berlin’s cap on rent does nothing to diminish the capital city’s attractiveness

• Record result of 300,200 sq m – up 14% year on year
• Ongoing decline in the vacancy rate – 3.1% at the end of the first half year
• Prime rent up 11% in a y-o-y comparison to €30.00 /sq m/month
• Transaction volume on the investment market declines to €1.2bn in the first six months
• Large-scale deals determinant factor
• Net initial yield (office) running at 3.00%

- Transaction volume of €13.7 billion in the first quarter

- Transaction volume stable for retail and hotel; office, logistics and especially residential see declines

- Percentage share of the Top 7 cities and international investors holding steady

- Average prime yield in the top locations drops slightly to 3.14 percent

• For the first time, a take-up of 7.0m sq m of space was recorded on the German logistics market, 7% more than in the same period of the previous year.
• There is a shortage of space on the logistics real estate market - and at the same time the previous record of 6.7m sq m in 2016 was exceeded. The frequently reported shortage of space describes the situation in the 23 German logistics clusters. In 2018, users have shown that they are also prepared to move to other regions where large, inexpensive plots are still available.
• The market in 2018 was driven by take-up in property developments. At 4.4m sq m, they accounted for 63% of total take-up.
• Since the take-up of owner-occupiers has remained largely stable with a slight decline of a good 3% to 2.3m sq m, most of the growth is focused on the letting market.
• The market shows no signs of slowing on the demand side. Even the limiting factors on the supply side are unlikely to change fundamentally over the course of the year.

• Positive trend in consumer spending at a time of favourable economic conditions
• Retail sector reports strong turnover growth in both bricks-and-mortar and online segments
• Total sales area remains at the previous year’s level
• Superstores and drugstores are the most expansive operation types
• E-commerce is mainly a sales channel for the non-food sector
• Improved letting market over the first half of 2018
• Retail warehouses and retail parks are the most popular property types in the investment market
• Significant scarcity of product results in further pressure on prime yields
• Expert survey shows more optimistic view of bricks-and-mortar retail
• Greater focus on value-add and opportunistic investments

-  Industry 4.0, Big Data und Iot – growing requirements placed on the digital infrastructure

- The fourth Industrial Revolution – the growing need for data Centres

- IoT and Big Data will prompt a massive increase in the data volume in the future as well

- Requirements placed on computing power set to increase

- Great challenge: electricity costs

• Sustainable upswing on German real estate markets Thanks to economic boom
• Growth rate of GDP is set to rise by 2.2% (2017) - economic uptrend is set to continue at a vivid pace in 2018 as well and gain a broader footing
• Transaction volumes on the German commercial investment market 2017 exceeded the €57 bn mark; for 2018 we assume that despite limited supply the market dynamic will remain high
• Record in office letting take-up 2017 - veritable excess demand, reduced vacancy and moderate new build activity lead to further rising rents in 2018
• Overall German retail take-up volume in 2017 is anticipated to exceed the €500 bn threshold - demand of (inter-)national retailers still high, but more focused on locations and concepts - challenge of growing e-commerce
• Due to strong expanding online-trading, new logistics property types for the last mile are increasingly in discussion in urban locations
• Fiercer competition for core hotel products in prime locations is expected -  investors will focus more on economically strong major provincials, secondary cities and new property developments.
• Care homes establish themselves more firmly as an investment alternative – even for classic, conservative core investors
• Residential markets remain strained despite risen building activity - increasing rents and purchasing prices in the high-influx regions.