During 2025 condominium values remained resilient and PRS valuations rose for the first time since 2022. At 31 December 2025, the Portfolio value was €540m (€3,686/sqm, 3.6% gross yield), up 1.5% like-for-like.
JLL Valuation Summary1
| Metric | Total Portfolio | Condominium Sales Pool | PRS Portfolio | |||
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | |
| Properties | 73 | 74 | 40 | 16 | 33 | 58 |
| Total units | 2,081 | 2,161 | 891 | 366 | 1,190 | 1,795 |
| Total sqm (‘000) | 146.5 | 152.2 | 64.7 | 29.0 | 81.9 | 123.2 |
| Valuation (€m) | 540.1 | 552.8 | 271.0 | 110.8 | 269.1 | 442.0 |
| Value per sqm (€m) | 3,686 | 3,633 | 4,191 | 3,820 | 3,288 | 3,589 |
| LFL growth per sqm (YoY) | +1.5% | +0.8% | +3.1% | +10.6% | +0.8% | (1.4)% |
Market stabilsation
- Berlin residential market showed early signs of valuation stabilisation in 2025, following a prolonged correction across German residential real estate
- Condominium values continue to command a significant premium over PRS values, reflecting owner-occupier demand, scarcity of legally divided stock and the structural premium achievable through individual apartment sales
- PRS valuations have now stabilised, indicating that the cyclical correction of recent years has moderated — though investor demand in the PRS segment remains subdued
- Condominium Portfolio (+3.1% LFL): 40 properties (891 units) valued at €271.0m (€4,191/sqm), consistent with achieved transaction pricing
- PRS Portfolio (+0.8% LFL): 33 properties (1,190 units) valued at €269.1m (€3,288/sqm) — first annual valuation increase since the 2022 downturn
LFL Portfolio Growth
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