German commercial real estate statisticsDeutsch

Commercial overall

One national chart per KPI where a source has it; each chart opens the full KPI page.

Commercial property price index

Commercial property price index, commercial overall, Germany (annual)

168.3 index, 2013=100 2025 +2.3% on 2024

100120140160180index, 2013=1002014201620182020202220242013: 100.02014: 103.62015: 110.02016: 119.02017: 131.92018: 141.12019: 158.02020: 172.82021: 181.92022: 181.22023: 166.72024: 164.52025: 168.3168.3100120140160180index, 2013=1002014201620182020202220242013: 100.02014: 103.62015: 110.02016: 119.02017: 131.92018: 141.12019: 158.02020: 172.82021: 181.92022: 181.22023: 166.72024: 164.52025: 168.3168.3
Source: vdpResearch GmbH, published by Deutsche Bundesbank / Licence: Deutsche Bundesbank terms of use / Data to 2025
Series detailsCommercial property price index, commercial overall, Germany (annual)
Deutsche Bundesbank, SDMX Web Service, series BBDZ1.A.B10.N.G000.P0100.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) / Commercial property price index / total / Germany / unadjusted figures; unit: 2013=100
Original source as named by the publisher: vdpResearch GmbH and Bundesbank calculations.
Original statistics and metadata used unmodified, under the ESCB Terms of Use for the Reuse of Statistics.

Rent index (new lettings)

Rent index (new lettings), office and retail combined, 7 major cities

130.6 index 2025 +0.6% on 2024

80100120index19952000200520102015202020251995: 81.81996: 75.41997: 74.21998: 77.41999: 81.12000: 87.32001: 94.72002: 90.02003: 84.32004: 82.52005: 85.32006: 91.22007: 95.22008: 99.52009: 100.52010: 100.02011: 104.52012: 109.62013: 116.52014: 121.92015: 127.02016: 129.72017: 131.82018: 133.22019: 137.22020: 132.22021: 126.62022: 129.72023: 128.12024: 129.82025: 130.6130.680100120index2000201020201995: 81.81996: 75.41997: 74.21998: 77.41999: 81.12000: 87.32001: 94.72002: 90.02003: 84.32004: 82.52005: 85.32006: 91.22007: 95.22008: 99.52009: 100.52010: 100.02011: 104.52012: 109.62013: 116.52014: 121.92015: 127.02016: 129.72017: 131.82018: 133.22019: 137.22020: 132.22021: 126.62022: 129.72023: 128.12024: 129.82025: 130.6130.6
Source: bulwiengesa AG, published by Deutsche Bundesbank / Licence: Deutsche Bundesbank terms of use / Data to 2025
Series detailsRent index (new lettings), office and retail combined, 7 major cities
Deutsche Bundesbank, SDMX Web Service, series BBDZ1.A.B10.N.G250.P0620.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 / rents for office and retail core properties / 7 major cities (A cities) - Bundesbank calculations / unadjusted figures; unit: 2010=100
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.

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: 4.14.1345%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
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.

Office vacancy rate

Not available: no Open source for vacancy across all commercial property

Transaction volume index

Transaction volume index, commercial overall, Germany

114.3 index 2024 +6% on 2023

100150200250index2008201020122014201620182020202220242007: 231.52008: 107.62009: 74.82010: 100.02011: 130.32012: 128.62013: 136.42014: 162.42015: 196.72016: 178.82017: 203.22018: 208.52019: 251.52020: 209.22021: 230.52022: 180.42023: 107.82024: 114.3114.3100150200250index2010201520202007: 231.52008: 107.62009: 74.82010: 100.02011: 130.32012: 128.62013: 136.42014: 162.42015: 196.72016: 178.82017: 203.22018: 208.52019: 251.52020: 209.22021: 230.52022: 180.42023: 107.82024: 114.3114.3

Note: Latest observation: 2024. Deutsche Bundesbank has not published newer data within the expected interval, so this series may be out of date.

Source: vdpResearch GmbH, published by Deutsche Bundesbank / Licence: Deutsche Bundesbank terms of use / Data to 2024
Series detailsTransaction volume index, commercial overall, Germany
Deutsche Bundesbank, SDMX Web Service, series BBDZ1.A.B30.N.G800.R0800.A / New data last retrieved 3 November 2026
Original series as published: Real Economic Indicators (As per the latest publication of the system of indicators for the German commercial real estate market) / Association of German Pfandbrief Banks (Verband deutscher Pfandbriefbanken) / commercial properties - transaction volume index: euro values / Germany total / unadjusted figures; unit: 2010=100
Original source as named by the publisher: Bundesbank calculations based on the extrapolation by vdpResearch GmbH on the basis on purchase price data provided by surveyor committees, excluding share-deals.
Original statistics and metadata used unmodified, under the ESCB Terms of Use for the Reuse of Statistics.

Construction (permits, completions)

Building permits: office and administrative buildings, Germany

2.62 million m² floor space 2025 -13.6% on 2024

345million m² floor space2008201020122014201620182020202220242008: 3.652009: 3.372010: 2.22011: 2.862012: 2.972013: 3.182014: 2.872015: 2.952016: 3.522017: 3.712018: 4.272019: 4.672020: 4.572021: 5.152022: 4.172023: 3.332024: 3.032025: 2.622.62345million m² floor space20102015202020252008: 3.652009: 3.372010: 2.22011: 2.862012: 2.972013: 3.182014: 2.872015: 2.952016: 3.522017: 3.712018: 4.272019: 4.672020: 4.572021: 5.152022: 4.172023: 3.332024: 3.032025: 2.622.62
Source: Statistisches Bundesamt (Destatis) / Licence: Datenlizenz Deutschland – Namensnennung – 2.0 / Data to 2025 / own calculation
Series detailsBuilding permits: office and administrative buildings, Germany
Statistisches Bundesamt (Destatis), GENESIS-Online, series 31111LJ001/{01–16}.BAUART1.BTK-GEB.GBD-NW-BV.FLC002 / New data last retrieved 2 November 2026
Original unit as published: 1000 qm

Which KPI and Segment combinations exist, and why the others do not