Capital Markets Outlook

The real estate market showed signs of stabilization in 2025, but continued to be influenced by structural changes as well as geopolitical and economic uncertainties.

This positive development is expected to persist in 2026. Moderate growth is anticipated in Europe, particularly in Germany. Companies in the investment grade segment benefit from increased market activity and the resulting investment opportunities. The real estate asset class thus remains an important component of diversified portfolios on the capital market.