A Year in Review I Real Estate Germany | McDermott

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REAL ESTATE UPDATE (GERMANY) / REPORT

A Year in Review - Real Estate Germany

February 24, 2026

Read time: 5 min

Overview

“What do you see in the market?” was the question that defined 2025. In our latest publication « A Year in Review – Real Estate Germany », we share the trends, transactions and financing dynamics shaping the German real estate landscape – and what they signal for 2026.

From selective deal activity across asset classes to the growing role of private debt and alternative lenders, the market is regaining momentum with discipline and conviction. Flip through the full report below to learn more. We recommend using the fullscreen setting for an optimized user experience.

Pull quote that reads: ‘2025 marked a clear shift towards greater pragmatism and a renewed willingness to engage and transact.’

Interview with Dr. Steffen Meinshausen, Tikehau Capital

What’s really driving Germany’s real estate market as it moves through a period of adjustment? In this interview, Dr. Steffen Meinshausen, Head of Real Estate Germany at Tikehau Capital, shares a candid assessment of the past few years, the current investment landscape, and what lies ahead. He explores why transaction activity has remained muted, where financing sentiment is beginning to improve, and why demand for asset classes with strong fundamentals—from residential to food-anchored retail—continues to hold firm. Looking ahead to 2026, the conversation offers a thoughtful, forward-looking view on opportunities, risks, and the sectors poised to shape the next phase of the German real estate market.

Read the full interview in “A Year in Review – Real Estate Germany.”

Pull quote that reads: ‘Demand for asset classes with strong fundamentals remains robust.’

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