The first half of 2025 shows that Germany’s real estate investment market remains challenging, but transactions are possible. Brockhoff’s investment advisers see growing potential and are completing significant transactions nationwide.

Office remains successful—but more differentiated

Office properties remained under close scrutiny in the first half of 2025, particularly in terms of financing. While banks are increasingly cautious in this asset class, investors with strong equity are using the opportunities this creates.

Core properties in good locations remain highly sought after, although at markedly changed yield levels. Brockhoff brokered, among other deals, two detached office buildings totalling 11,000 m² in Düsseldorf Airport City. Value-add properties also remain popular at the right purchase price. In Dortmund, a 20,000 m² office building directly on the B1 changed hands with Brockhoff’s advice. Most recently, Brockhoff advised on five large office transactions in Dortmund alone, totalling 46,300 m².

Transactions involving special-purpose properties, such as those used by infrastructure operators (police, fire services, schools and educational institutions, etc.), were also attractive in the 1st half of 2025. Cities and municipalities have become important tenants for investors.

“The office asset class still works,” says Jörg Langensiepen, Managing Director of Brockhoff. “But requirements have risen significantly. Location quality, use concepts and leasing security are under greater scrutiny and being questioned more than ever.”

Residential property makes a comeback

Despite a weaker Q2 2025, residential property remains a sought-after asset class. Brockhoff has responded by consistently expanding its business model: since the turn of the year, we have strengthened the investment team specifically in the acquisition and sale of apartment buildings and residential complexes—with considerable success and several completed transactions.

“Whether privately financed or subsidised existing residential complexes, apartment buildings, assisted living or forward deals in the Ruhr region or Berlin, we are handling a wide range of ongoing transactions and see broad demand, particularly from institutional and semi-professional investors,” says Jörg Langensiepen, Managing Director of Brockhoff.

Logistics: steady demand, but no longer a hype

Logistics properties also remained a solid investment in the 1st half of 2025. Demand has not returned to the boom seen during the coronavirus years, but stable financing options and the ongoing e-commerce trend continue to make the sector attractive. Brockhoff completed several deals in the 1st half of 2025, including a sale-and-leaseback transaction involving a 14. 500 m² logistics property in Ense near Dortmund and the sale of a 2,532 m² light industrial property in central Essen.

Retail property: a differentiated picture

Retail property presents a mixed picture. Retail parks with sound concepts remain in demand—as shown by our recent successful sale of a 4,000 m² retail park in Kleve—but city-centre locations depend on the details. Prime 1A properties are seeing a partial renaissance when reputable retailers occupy the ground floor and the upper floors are used for housing, as in the recent sale of a 600 m² mixed-use building in a prime central location in Kleve, in Brilon and soon in Mönchengladbach.

The same applies here: equity is decisive, and banks have become more selective in their lending.

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Brockhoff GmbH is one of Germany’s leading commercial real estate brokers and the market leader in the Ruhr region. The owner-managed company, based in Essen, was founded by Eckhard Brockhoff in 1987 and has extensive expertise in marketing properties across the OFFICE, INVEST, RETAIL and LOGISTICS sectors, built on over over 35 years of experience in real estate. Its portfolio includes the nationwide sale of office and investment properties, office leasing with a focus on the Ruhr region, the brokerage of retail properties in prime 1A locations in small, medium-sized and large German cities, and the leasing and sale of logistics properties. In 2021, ADOMO Beteiligungs GmbH acquired a 41% stake in the company. The remaining 59% is still held by founder and Managing Partner Eckhard Brockhoff.