Germany office and retail core property rents, 120 cities
Germany office and retail core property rents, 120 cities stood at 93.1 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 1995 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Price Indicators | |||||||||||
| Bulwiengesa AG commercial property price index, rents for office and retail core properties, 120 towns and cities - Bundesbank calculations | 93.1 | 93.8 | 96 | 99.4 | 102.6 | 106.5 | 109.1 | 110 | 109.7 | 109 | |
| Bulwiengesa AG commercial property price index, rents for office and retail core properties, 7 major cities (A cities) - Bundesbank calculations | 130.6 | 129.8 | 128.1 | 129.7 | 126.6 | 132.2 | 137.2 | 133.2 | 131.8 | 129.7 |
Understanding germany office and retail core property rents, 120 cities
Prime commercial leasing obligations outside the top tier of metropolitan hubs form the basis of this specific calculation. By intentionally excluding the seven major A cities, the Bundesbank and Bulwiengesa AG index isolates the rental dynamics of mid-sized and secondary regional centers. This formulation measures the pure cost of securing corporate workspaces and retail storefronts in municipalities that typically rely on domestic or regional economic drivers rather than international capital flows. It provides a cleaner view of the broad-based, non-premium commercial landscape compared to the all-encompassing overarching aggregate series.
Assessing these regional market rents demands attention to structural economic changes rather than speculative financial cycles. Without the volatility often found in premier global hubs, these localized property metrics tend to move smoothly, making year-on-year index comparisons highly reliable for identifying sustained shifts in regional business confidence. Users should be aware that the index formulation obscures absolute monetary values, serving only to map relative momentum against the fixed reference period. Careful analysis avoids directly contrasting these smoothed trends with the more reactive, transaction-heavy metrics observed in the excluded top-tier urban centers.
Frequently asked questions
- What distinguishes the 120 towns from the broader municipal sample?
- They represent the German commercial property market excluding the seven largest internationally integrated metropolitan hubs.
- Does this track existing lease renewals or only new agreements?
- The figures reflect the prevailing market rates for prime properties, typically aligned with new leasing contracts.
- Are suburban business parks included in the core property definition?
- Core properties generally refer to prime central locations, leaving peripheral business parks outside the primary scope.