Strategic advice.

Relevant data.

Resilient valuation.

bulwiengesa is one of the largest independent consulting and analysis companies for the real estate industry in Germany. Project developers, property developers, institutional investors, banks, municipalities and property owners have trusted us since 1983.



Project developer market 2022: Turnaround and change at the same time

Project developers find themselves in the grip of rising interest rates, inflation and the explosion of construction costs. After years of growth, the German project development market is faltering. Our current analyses show: The overall market in A-cities is declining significantly, especially in residential. This reinforces the suburban trend

Chart of the Month June: Fewer Project Developments

In the seven class A cities, the project volume now amounts to only 46.2 million sqm. This corresponds to a decline of 3.6 per cent compared to the first Corona year 2020. Trading development in particular is on the decline, while portfolio holders continue to build and plan diligently.

Chart of the Month May: Retail vacancy rates in German cities

How are retail vacancies developing? We have looked at the established retail locations in the metropolises of Berlin, Hamburg, Frankfurt, Munich and Cologne. We regularly survey the retail stock there and thus also the vacancy rate. The analysis shows: Vacancy rates have increased most significantly in the top retail locations.

Update hotel real estate

After two years of emergency, the hotel market is still far from pre-crisis levels. Now the situation seems to be improving in slow steps, even if the industry is still wavering between hope and fear


bulwiengesa publications are methodologically robust and contain professionally in-depth individual analyses. Whether for strategy, presentation or marketing - in any case, study results must be understandable, relevant and comprehensible. Our entire team is committed to ensuring that they are.

Study "Public Infrastructure Real Estate"

Public infrastructure real estate - a response to the challenges in the investment market

bulwiengesa Property Market Index 2022

No bend, on the contrary: real estate prices have been rising for 17 years

Market Report of the Comparables Initiative

The Comparables initiative gains market relevance

Strategic Consulting

bulwiengesa is one of the major, independent consulting companies in continental Europe. For almost 40 years we have supported our partners and clients in real estate related questions. We offer sound data services, provide strategic advice and conduct bespoke surveys, analyses and valuations. Our clients are, among others, real estate developers, contractors, institutional investors, banks, local communities and asset managers.

About us

Our 90-strong team works interdisciplinary and with passion at five locations. Get to know us and our history.



RIWIS is more than a database and has already helped with countless assessments of markets, properties and locations.


Massive shortage of care places by 2040

A comprehensive study commissioned by Cureus looks for the first time not only at demographic trends, but also at the stock of care properties and construction activity. The result: if no more building takes place, there will be a shortage of around 168,000 care places by 2040



The challenges of demographic change are enormous, as the future demand for care places in particular shows. This is primarily due to demographic factors, but at the same time there is also a need to catch up due to the modernisation backlog in many care properties. The market potential is large, but answers must also be found for the ever-growing group of people in need of care with low household incomes.