Market sentiment among decision-makers: pbb survey sees recovery at first in residential and logistics
19.12.2024
Munich, 19 December 2024 - A survey conducted by the research institute Civey on behalf of Deutsche Pfandbriefbank AG (pbb) among decision-makers in the German real estate industry shows that many industry experts (68%) currently consider the property market to remain less robust. In general, respondents do not see a broad-based recovery in the market at present (69%) or in 2025 (61%). At the same time, the survey identifies specific factors as decisive for market stabilisation and recovery.
Lower interest rates and more stable economic conditions crucial for market recovery
The experts see lower interest rates (71%) and more stable economic conditions (57%) in particular as key factors for a market recovery. Just under 38% see subsidy programmes for real estate buyers as decisive. Other, less important influences include an increasing supply of property, the easing of lending guidelines and rising incomes among the population.
Logistics and residential lead the way
Respondets named residential (44%) and logistics (14%) as the asset classes where the market is expected to recover the quickliest. Office (5%), retail (4%) and hotel (2%) are currently viewed much more cautiously.
The results of the survey reflect the currently still cautious, but certainly multi-layered assessment of the market situation. However, they also reveal the key factors that could promote stabilisation and long-term recovery. For large financiers such as pbb, a broader diversification of the portfolio, which the bank has started to establish with its Strategy 2027, may be critical to success. Logistics has long since established itself as a growth sector, while residential has always been considered particularly robust. New asset classes are also on the rise: These include segments such as serviced living and senior living.
About the survey
The survey was conducted by Civey on behalf of pbb between 13 September and 22 October 2024 among decision-makers in the German real estate and housing industry. Around 100 industry experts were surveyed.