Germany’s real estate transaction volume reached €8.6 billion in the first quarter of 2026, marking year-over-year growth of almost 20 percent, according to CBRE.
German investors were particularly active in the first three months of the year, making up some €5.1 billion of total deals. Foreign investment remains short of the long-term quarter average at €3.5 billion. With an ongoing high bid-ask spread, CBRE says some crossborder allocators still consider the German market too expensive.
The advisory firm says 61 percent of total transaction volume went into core assets. Value-add captured 18 percent and opportunistic another 13 percent.
The office sector took the largest share of transactions. At €2.1 billion the share of office in the overall volume came in at around 24 percent, reflecting growth of 60 percent compared with the first quarter of 2025. Twelve of the 24 largest transactions above the €50 million mark were attributable to the office
