• In 2019, almost €40bn was invested in German office real estate. This represents a 25% increase in invested capital compared to 2018
  • At 82%, the majority of the investment volume was accounted for by properties in the top 7 markets of Berlin (24%), Munich (22%), Frankfurt (14%), Hamburg (8%), Düsseldorf (6%), Cologne (5%) and Stuttgart (3%)
  • Across all seven top markets, prime yields were 2.91% at the end of the year, a decline of 0.3%-points compared with the end of 2018 
  • Office letting markets continue to be very dynamic - an unabated decline in vacancies is driving rents further upwards
  • Outlook: demand for German office properties remains strong, but low product availability limits transaction volume