INSIGHTS. ANALYSIS. PERSPECTIVES. 

The year 2025 continued to be marked by uncertainty for the real estate industry.

Spending a full day in Berlin offered two complementary lenses on the current state of the real estate industry. In the afternoon, the gif Research Day 2025 at HTW Berlin analysed political frameworks, regulatory dynamics and economic feasibility. Later that evening, the Institute for Corporate Governance in the German Real Estate Industry (ICG) convened at Hotel Oderberger to discuss social impact, inclusion and responsible development.

Gunnar Gombert attended the ZIA Office Property Day 2025 in person. The event provided a clear picture of the current status of the German office market: vacancy rates in the Big 7 sit at around 8 %, with Frankfurt and Düsseldorf significantly higher. The “flight to quality” continues to sharpen – strong locations and ESG-compliant, flexible assets remain resilient, while older, less adaptable buildings come under increasing pressure.

As part of the course “Real Estate Markets and Investors” taught by Prof. Dr. Gunnar Gombert at the Technical University of Munich, a guest lecture on the German and Munich office real estate markets took place.

As part of the course “Real Estate Markets and Investors” taught by Prof. Dr. Gunnar Gombert at the Technical University of Munich, a guest lecture was held with Dr. Heike Piasecki, Head of the Munich Office and Head of Residential & Healthcare Real Estate at bulwiengesa.

Transformation of the Munich Office Market – Facts, Trends, and Perspectives

After three intense days at Expo Real 2025 in Munich, one clear impression remains: the industry feels more open again – but also more realistic. Between cautious optimism and a sober look at the facts, the market appears to be processing recent challenges, yet far from overcoming them.

2 Years of Gunnar Gombert Strategy Consulting – Looking Back and Ahead

How can future-oriented urban development succeed within existing structures? This question was at the heart of an excursion by real estate management students of Prof. Dr. Gunnar Gombert and architecture students of Prof. Dr.-Ing. Bettina-Maria Müller from IU International University to the Munich-based development firm WÖHR + BAUER.

Gunnar Gombert Strategy Consulting at Expo Real 2025

Insights from Teaching at IU with Industry Experts from MünchenerHyp and Ponti Capital Partners The real estate financing market is under pressure. Rising interest rates, falling valuations, tighter regulation (including Basel III and IV), growing ESG requirements, and ongoing uncertainty are weighing heavily on development, transactions, and refinancing.

nsights from the Ten Towers Excursion as Part of the URBAN VACANCIES Initiative The trend is clear: structural vacancy in German office real estate markets is on the rise. Hybrid work, increasing ESG requirements, and shifting space demands have led to a growing number of empty offices. But vacancy is not just a risk—it’s also an opportunity. The key question is: What can we do with vacant office buildings?

Government budgets around the world are under pressure: trillions in sovereign debt must be refinanced – and no longer at zero rates, but in a higher-for-longer environment. Sounds like dry macroeconomics? It isn’t. Because what happens in the bond markets has a direct impact on real estate.

PropTechs in the Shadow of a Giant Gunnar Gombert Strategy Consulting participated in the TUM Entrepreneurship Day, one of the leading innovation events in the German-speaking region.

A Full House and Clear Messages The Friedrichstadt-Palast set the stage, with 2,500 decision-makers in the audience and 30 speakers delivering pointed messages. The 2025 Tag der Immobilienwirtschaft shows: Germany’s real estate sector remains in a state of exception – but not in a standstill.

As part of the real estate lecture series by Prof. Dr. Gunnar Gombert at IU International University, we were pleased to welcome Max Witte, Head of RIWIS & Applications at bulwiengesa AG. His guest lecture focused on recent developments in market transparency, the role of structured data models, and how data is increasingly shaping real estate decision-making. Max Witte, bulwiengesa at IU (Source: Gunnar Gombert)

As part of the real estate lecture series by Prof. Dr. Gunnar Gombert at IU International University, we had the pleasure of welcoming Lars Eickhoff, co-founder of DeepImmo, a data-driven PropTech start-up based in Munich.

At the end of April 2025, our founder Prof. Dr. Gunnar Gombert took on a dual role: as a Professor of Real Estate Management at IU International University and as Strategic Advisor Capital Markets at Cushman & Wakefield. The occasion was the ULI Germany – Young Leaders Event, hosted at Cushman & Wakefield’s Munich offices. Seizing the opportunity, he brought along his students from the “Ownership and Property Transfer” course – a successful bridge between academia and practic

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In mid-February 2025, Prof. Dr. Gunnar Gombert and his students from the Real Estate Management lecture at IU Internationale Hochschule took

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The real estate industry is undergoing a profound transformation. Digitalization, ESG regulations, labor shortages, and rising construction