"Almost two years after the German property investment market went into a tailspin, we are seeing the first (tentative) signs of increasing momentum again, at least on the supply side."

"In spring last year, many market players expected a turnaround in the property investment market if the ECB did not raise interest rates any further. After three ECB meetings without such an interest rate hike, these expectations have not been fulfilled."

"The German property investment market ended 2023 with a turnover of around €29.0bn. This corresponds to a decline of 56% compared to the previous year and is the lowest figure since 2010."

"The transaction volume and the number of transactions have probably bottomed out, while prices have initially continued to fall in recent months."

"Activity on the German real estate investment market stabilised in the 2nd quarter of the year but remained exceptionally low."

"The adjustment phase on the German real estate investment market triggered by the steep rise in interest rates continued in Q1 2023."

"The German Language Society has chosen "Zeitenwende", meaning turning point, as the word of the year 2022."

"Although the list of stress factors and risks has not become shorter, activity in the German real estate investment market has stabilised in the last three months, at least for commercial properties."

"The signs on the German real estate investment market had already changed noticeably by the end of the first quarter and the changed environment is now also clearly reflected in the figures."

"Activity on the investment market has cooled rapidly in recent weeks and the recovery from the consequences of the pandemic that had been gathering momentum since the beginning of last year was abruptly interrupted."