German real estate investment volume reaches 23.1 billion EUR

The German real estate investment market reached a total transaction volume of 23.1 billion EUR by the end of September 2026. This figure represents a 3% decrease compared to the previous year, reflecting a challenging economic environment influenced by geopolitical uncertainties and rising financing costs.

Despite the lower total volume, transaction activity reached its highest level since 2022, with approximately 1,050 deals recorded. The residential sector remains the strongest asset class with 5.9 billion EUR in investments, though it saw a 5% year-on-year decline. Commercial real estate investments totaled 17.1 billion EUR, a 2% decrease.

Key individual transactions in the third quarter included EQT’s 532 million EUR acquisition of a pan-European logistics portfolio from Logicor. Other notable deals involved office properties in Munich and serviced apartment portfolios in Berlin and Bielefeld. Regionally, North Rhine-Westphalia led in transaction numbers, while Munich, Hamburg, and Berlin remained the top investment locations.