German commercial real estate statisticsDeutsch

Initial yield

Initial yield, office and retail combined, 7 major cities

4.1% 2025 No change on 2024

33.544.555.5%19952000200520102015202020251995: 5.41996: 5.41997: 5.41998: 5.41999: 5.42000: 5.22001: 5.32002: 5.42003: 5.52004: 5.42005: 5.32006: 4.92007: 4.82008: 5.02009: 5.02010: 4.82011: 4.62012: 4.62013: 4.52014: 4.22015: 3.92016: 3.62017: 3.12018: 3.02019: 2.82020: 2.82021: 2.92022: 3.22023: 3.82024: 4.12025: 4.14.133.544.555.5%2000201020201995: 5.41996: 5.41997: 5.41998: 5.41999: 5.42000: 5.22001: 5.32002: 5.42003: 5.52004: 5.42005: 5.32006: 4.92007: 4.82008: 5.02009: 5.02010: 4.82011: 4.62012: 4.62013: 4.52014: 4.22015: 3.92016: 3.62017: 3.12018: 3.02019: 2.82020: 2.82021: 2.92022: 3.22023: 3.82024: 4.12025: 4.14.1

Note: Aggregate for 7 major cities (A-Städte), not an individual city.

Note: Office and retail combined; no separate office or retail figure.

Source: bulwiengesa AG, published by Deutsche Bundesbank / Licence: Deutsche Bundesbank terms of use / Data to 2025
Series detailsInitial yield, office and retail combined, 7 major cities
Deutsche Bundesbank, SDMX Web Service, series BBDZ1.A.B10.N.G300.P0820.A / New data last retrieved 3 November 2026
Original series as published: Price Indicators (As per the latest publication of the system of indicators for the German commercial real estate market) / bulwiengesa AG commercial property price index / net initial yields for office and retail core properties / 7 major cities (A cities) - Bundesbank calculations / unadjusted figures; unit: Prozent
Original source as named by the publisher: Bundesbank calculations based on price data provided by bulwiengesa AG.
Original statistics and metadata used unmodified, under the ESCB Terms of Use for the Reuse of Statistics.

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