Germany commercial property price index, excl. major cities
Germany commercial property price index, excl. major cities stood at 168.4 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Commercial property price index, total, Germany excluding cities of supra-regional importance3 | 168.4 | 164.7 | 167.7 | 178.3 | 174 | 165.2 | 148.5 | 133.5 | 126.2 | 114.4 | |
| Commercial property price index, office, Germany excluding cities of supra-regional importance | 202.2 | 197.2 | 203.3 | 217.9 | 211.3 | 209.4 | 183.2 | 157.1 | 147.5 | 122.9 | |
| Commercial property price index, retail, Germany excluding cities of supra-regional importance | 99.2 | 98.5 | 100 | 109.5 | 115.1 | 117.1 | 116.4 | 113.8 | 111.5 | 109 |
Understanding germany commercial property price index, excl. major cities
Regional business environments, secondary towns, and rural municipalities provide the raw transaction data for this broad aggregate index. It calculates the combined valuation shifts for office spaces, retail units, and multi-family residential blocks situated strictly outside the designated cities of supra-regional importance. By deliberately excluding the primary metropolitan hubs, the series captures the localized real estate dynamics of the broader national landscape. The indicator offers a macro perspective on provincial investment appetite, though its composite nature requires users to recognize that disparate movements in suburban offices or small-town retail can pull the total figure in conflicting directions.
Monitoring provincial commercial real estate relies on the 2013=100 mathematical baseline to trace long-term divergence from the primary urban centers. The annual periodicity eliminates the need for seasonal adjustments, confirming year-on-year analysis as the only structurally sound method for interpreting the dataset. Subsequent revisions to published figures should be anticipated as rural and regional land registries process final transaction documents at varying speeds. Comparing this rural and secondary-city aggregate against its supra-regional counterpart reveals the geographical polarization of investment capital, though analysts must avoid conflating this capital price metric with regional rental yields.
Frequently asked questions
- Are residential single-family homes in rural areas tracked here?
- Single-family properties are omitted, as the residential component of this commercial index strictly monitors multi-family apartment buildings.
- What happens if a secondary city is reclassified as having supra-regional importance?
- Reclassifications result in a methodological break, where subsequent transactions for that city are shifted to the major-city indices.
- Are agricultural land sales captured by this regional indicator?
- Raw agricultural terrain is excluded, with the focus remaining tightly on developed commercial and multi-dwelling real estate assets.