"Over the 10 years, the top seven cities, i.e., Berlin, Düsseldorf, Frankfurt, Hamburg, Cologne, Munich and Stuttgart, have accounted for around three quarters of the overall office transaction volume in Germany."

"All players in the German real estate investment market have now had to adapt to the new market conditions for a whole year. The number and structure of active market participants has also changed since the outbreak of the pandemic."

"The change on the real estate market raises many question marks for the established property sectors."

""Flight-to-safety" is the order of the day in uncertain times like these. Together with a lack of investment alternatives, this will increase investor demand and push initial rates of return to new record levels in the long term."

"Countries perceived to be managing the pandemic best will be at an advantage."