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Real Estate Letting & Operating in Germany Industry Data and Analysis
The past five years have presented property landlords in Germany with considerable challenges. Since 2021, sector turnover has fallen by an average of 2.8 per cent per year, a trend primarily attributable to a two-tiered market development. Whilst metropolitan areas are seeing rising rents for residential property thanks to a sustained influx of new residents, the commercial property sector – particularly in city centres – is coming under increasing pressure. Stagnant or declining turnover in high-street retail, industry and other commercial sectors is weakening demand for high-quality office and retail space, leading to rising vacancy rates. Converting such spaces into residential accommodation is often difficult and, in the short term, holds little economic appeal, as the rental income that can be generated falls short of that from commercial use. Rising vacancy rates weaken landlords’ negotiating position and limit the potential for rent increases in the commercial sector.
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What's included in this industry analysis
91¶¶Òù's research coverage on the Real Estate Letting & Operating industry in Germany includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released August 2026.
About this industry
What's this industry report about?
The Real Estate Letting & Operating industry in Germany operates under the WZ industry code L68.20DE. Operators in this sector let and lease land, buildings and flats to commercial and private customers; the properties may also have been leased previously. The sector also includes the implementation of construction projects, provided the buildings are intended for the company¡¯s own future management, as well as the letting and leasing of pitches for motorhomes. Only companies with at least one employee are included. Related terms covered in the Real Estate Letting & Operating industry in Germany include property, rental, lease, suburbanisation, sale-and-lease-back and coworking.
What's included in this industry?
91¶¶Òù and services covered in Real Estate Letting & Operating industry in Germany include Flats in blocks of flats, Office property and Retail property.
What companies are included in this industry?
Companies covered in the Real Estate Letting & Operating industry in Germany include Vonovia SE, Saga Siedlungs-Aktiengesellschaft Hamburg and Vivawest GmbH.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Real Estate Letting & Operating industry in Germany.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
91¶¶Òù & Markets
What's included in the 91¶¶Òù and Markets chapter?
The 91¶¶Òù and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Real Estate Letting & Operating industry in Germany.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Real Estate Letting & Operating industry in Germany.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Real Estate Letting & Operating industry in Germany. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Real Estate Letting & Operating industry in Germany. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Real Estate Letting & Operating industry in Germany. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Real Estate Letting & Operating industry in Germany. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Real Estate Letting & Operating industry in Germany.
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Frequently Asked Questions
What is the market size of the Real Estate Letting & Operating industry in Germany in 2026?
The market size of the Real Estate Letting & Operating industry in Germany is €90.5bn in 2026.
How many businesses are there in the Real Estate Letting & Operating industry in Germany in 2026?
There are 85,988 businesses in the Real Estate Letting & Operating industry in Germany, which has declined at a CAGR of 4.0 % between 2021 and 2026.
How may import tariffs affect the Real Estate Letting & Operating industry in Germany?
The Real Estate Letting & Operating industry in Germany is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Real Estate Letting & Operating industry in Germany?
The Real Estate Letting & Operating industry in Germany is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Real Estate Letting & Operating industry in Germany grown or declined over the past 5 years?
The market size of the Real Estate Letting & Operating industry in Germany has been declining at a CAGR of 2.8 % between 2021 and 2026.
What is the forecast growth of the Real Estate Letting & Operating industry in Germany over the next 5 years?
Over the next five years, the Real Estate Letting & Operating industry in Germany is expected to grow.
What are the biggest companies in the Real Estate Letting & Operating industry in Germany?
The biggest companies operating in the Real Estate Letting & Operating industry in Germany are Vonovia SE, Saga Siedlungs-Aktiengesellschaft Hamburg and Vivawest GmbH
What does the Real Estate Letting & Operating industry in Germany include?
Flats in blocks of flats and Office property are part of the Real Estate Letting & Operating industry in Germany.
Which companies have the highest market share in the Real Estate Letting & Operating industry in Germany?
The company holding the most market share in the Real Estate Letting & Operating industry in Germany is Vonovia SE.
How competitive is the Real Estate Letting & Operating industry in Germany?
The level of competition is high and increasing in the Real Estate Letting & Operating industry in Germany.
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