PwC – Real Estate Monitor, 3Q 2025

The main theme of the report concerns the state of the real estate market in Germany, with a focus on recovery and stabilization.

Key findings include: PwC real estate indices show ongoing adjustment in the German real estate market. The PwC residential real estate index remains below its 2021 peak, but there are cautious signs of recovery thanks to resilient rental fundamentals and demand for energy-efficient housing. The PwC commercial real estate index shows moderate growth, but structural challenges, particularly in the office segment, persist. Investors are focused on prime assets, avoiding secondary locations, highlighting the importance of asset quality and their ability to meet changing tenant needs.