German commercial property index, supra-regional, annual
German commercial property index, supra-regional, annual stood at 91.3 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 supra-regional importance3 | 91.3 | 89.1 | 89.8 | 100 | 103.3 | 98.4 | 91.3 | 81 | 74.9 | 67.3 | |
| Sub-aggregate office, RegioStaR Gem5: Cities of supra-regional importance | 85 | 84.1 | 87.4 | 100 | 106.2 | 107.3 | 99.2 | 88.2 | 82.6 | 71 | |
| Sub-aggregate retail, RegioStaR Gem5: Cities of supra-regional importance | 82.8 | 79.5 | 86.2 | 100 | 105.7 | 109.8 | 115.5 | 115.4 | 113.3 | 108.5 |
Understanding german commercial property index, supra-regional, annual
Market valuations across the top tier of the RegioStaR Gem5 classification framework form the basis of this aggregate index. It captures the combined price trajectory of office buildings, retail spaces, and multi-family housing blocks situated within cities designated as having supra-regional importance by the Bundesbank. This overarching measure isolates the pricing dynamics of primary metropolitan hubs from the broader national average, contrasting directly with parallel series that focus exclusively on regional, local, or generalized urban classifications. The index excludes single-family residential homes and owner-occupied apartments, concentrating purely on properties typically held for investment or commercial operation within these major population centers.
Because the underlying transactions for large-scale investment assets occur infrequently, analysts typically evaluate this annual series by comparing successive periods rather than attempting to interpolate higher-frequency variations. Revisions are a standard feature of the release cycle, as late-reported institutional acquisitions and finalized sale deeds are incorporated into previous iterations. Users should be cautious when contrasting this composite metric against more narrowly defined residential indices, as the inclusion of retail and office assets introduces exposure to commercial cycles that may not affect standard housing. Additionally, periodic rebasing of the index value means long-term structural comparisons require checking the reference period to avoid distorting the cumulative valuation assessment.
Frequently asked questions
- Does this index include owner-occupied residential properties?
- No, single-family homes and owner-occupied apartments are excluded, as the focus is on commercial and investment-grade real estate.
- How are mixed-use buildings treated within this aggregate?
- Properties combining retail and residential spaces are typically categorized based on their primary economic use within the underlying transaction data.
- Can this series be used to analyze seasonal pricing patterns?
- The annual frequency of the release masks any intra-year variations, making it suitable only for observing long-term structural differences.