German commercial property index, local cities, annual
German commercial property index, local cities, annual stood at 95.7 in 2025, according to Deutsche Bundesbank. It is one of the indicators in the Property market (annual) table (Value · Annual), with a complete series running from 2013 to 2025. The complete series with an interactive chart, free to download.
This indicator in the Property market (annual) table
| Indicator | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total, RegioStaR Gem5: Cities of local importance3 | 95.7 | 93.5 | 96.2 | 100 | 96.7 | 91.2 | 81.7 | 74 | 70.7 | 64.5 | |
| Sub-aggregate office, RegioStaR Gem5: Cities of local importance | 91.6 | 89.2 | 94.3 | 100 | 94.8 | 91.8 | 79.5 | 68.8 | 65.5 | 54.7 | |
| Sub-aggregate retail, RegioStaR Gem5: Cities of local importance | 94 | 93.6 | 94.2 | 100 | 105.7 | 108.8 | 107.2 | 104 | 101.1 | 99.5 |
Understanding german commercial property index, local cities, annual
Aggregate price movements for all types of non-residential real estate situated within the RegioStaR Gem5 category of cities of local importance dictate this metric. Unlike indices for administrative districts or major metropolises, this total figure isolates the performance of investment assets—spanning retail units, office buildings, and multi-family houses classed as commercial—specifically in these municipal areas. It serves as the parent index for sub-aggregates in this geographic tier, capturing the combined valuation shifts before separating them by specific building use. The index bundles transaction evidence from these specific locations, offering a unified view of the entire non-residential property market segment.
Since the index aggregates distinct commercial real estate types, composition shifts in transaction volumes between office blocks and retail spaces can influence the overall trajectory. The annual frequency eliminates short-term seasonal volatility, making year-on-year index point comparisons the most reliable method for assessing structural market shifts. Early releases are subject to regular revisions as delayed transaction records are incorporated into the Bundesbank calculations. Rebasing events periodically shift the reference period, meaning analysts must avoid splicing raw index values across different base periods without applying the appropriate linking factors.
Frequently asked questions
- Does this aggregate index include both retail and office properties?
- Yes, the total metric combines valuation metrics from all commercial real estate sub-aggregates, including retail, office, and multi-family house categories.
- How often are the figures for this property market segment updated?
- The underlying calculations are published on an annual basis.
- Should I use this series to track residential apartment prices?
- Only if those apartments are part of multi-family houses treated as commercial investment properties; owner-occupied apartments are excluded from this specific category.