Property type · Retail property
Retail property: price index by space type
Price index for retail property in metropolises, large cities, medium-sized towns and rural areas, with annual changes and comparison of property types.
Data as of: 10 Oct 2026 · updated daily from the time series databases of the sources
Key figures
Current developments
Price index
Prices for retail property by space type
Commercial property price index of the Bundesbank (2022 = 100), smoothed, broken down by the spatial types of the regional statistical spatial typology (RegioStaR).
Retail property price index Germany
2022=100
- Retail property88.1Q2 2026 · approx. −0.2 % vs. prior year
Retail property: change vs. same quarter of prior year
% vs. prior year
- Retail propertyrd. −0.2 %vs. prior year · Q2 2026
Retail property by space type
2022=100
- Metropolises83.4Q2 2026 · approx. +1.2 % vs. prior year
- Regiopoles and large cities88.2Q2 2026 · approx. +1.3 % vs. prior year
- Central cities, medium-sized towns94.0Q2 2026 · approx. +0.1 % vs. prior year
- Urban areas86.9Q2 2026 · approx. −1.8 % vs. prior year
Retail property: metropolises and rest of Germany
2022=100
- Metropolises83.4Q2 2026 · approx. +1.2 % vs. prior year
- Germany excluding major cities89.9Q2 2026 · approx. −0.7 % vs. prior year
- Germany88.1Q2 2026 · approx. −0.2 % vs. prior year
Retail property by space type: change vs. same quarter of prior year
% vs. prior year
- Metropolisesrd. +1.2 %vs. prior year · Q2 2026
- Regiopoles and large citiesrd. +1.3 %vs. prior year · Q2 2026
- Small-town and rural areasrd. −3.1 %vs. prior year · Q2 2026
Retail property compared with other property types
2022=100
- Multi-family houses98.6Q2 2026 · approx. +1.6 % vs. prior year
- Office87.7Q2 2026 · approx. −1.2 % vs. prior year
- Retail88.1Q2 2026 · approx. −0.2 % vs. prior year
- Commercial property overall93.1Q2 2026 · approx. +0.4 % vs. prior year
Retail property: annual values by space type
2022=100
- Metropolises82.82025 · approx. +4.2 % vs. prior year
- Regiopoles and large cities87.82025 · approx. +0.9 % vs. prior year
- Central cities, medium-sized towns94.02025 · approx. +0.4 % vs. prior year
- Urban areas88.22025 · approx. −0.1 % vs. prior year
Office and retail combined
2022=100
- Office and retail87.8Q2 2026 · approx. −1.0 % vs. prior year
- Retail88.1Q2 2026 · approx. −0.2 % vs. prior year
- Office87.7Q2 2026 · approx. −1.2 % vs. prior year
Long series
Retail property since 1995
German Property Index of bulwiengesa AG, capital growth, annual.
Retail property: 7 major cities and 127 cities
2022=100
- 7 major cities76.52025 · approx. −1.8 % vs. prior year
- 127 cities77.12025 · approx. −4.3 % vs. prior year
Office and retail combined: 7 major cities and 127 cities
2022=100
- 7 major cities77.72025 · approx. −0.3 % vs. prior year
- 127 cities80.42025 · approx. −2.5 % vs. prior year
Context
Retail property in valuation
The market value is determined under § 194 BauGB by the price that could be achieved in the ordinary course of business on the valuation date. Decisive are the general value conditions on the valuation date: the totality of circumstances relevant to price formation, such as the general economic situation, capital market conditions and the economic and demographic developments of the area (§ 2 para. 2 ImmoWertV). They enter the valuation procedure through the input data and the market adjustment (§ 7 ImmoWertV).
Income-producing properties are valued using the income approach (§§ 27 to 34 ImmoWertV). The property yield is the interest rate at which the market value of properties of the respective type is on average customarily remunerated (§ 21 para. 2 ImmoWertV); it is derived by the expert committee from purchase prices and the associated net income. If prices rise with unchanged income, the property yield falls, and vice versa. The price index therefore shows in which direction property yields are likely to have moved since the evaluation period of the market report.
For commercial property, lease term, tenant credit quality, alternative-use potential and space efficiency affect value more strongly than for residential property. Deviations of actual from market rents are to be considered as special property-specific features (§ 8 para. 3 ImmoWertV). In retail, turnover rents, anchor tenants and the local-supply function of the location are added.
Questions and answers
Frequently asked questions
Briefly answered, with source reference.
How have retail property prices developed?
The retail price index for Germany stands at 88.1 (2022 = 100). The charts show the trend since 2013 by space type.
Which retail properties does the index cover?
The index is a sub-aggregate of the commercial property price index in the Bundesbank indicator system; it does not report individual store formats. For individual formats such as retail parks or grocery stores, market reports of brokerage firms should be consulted.