Healthcare Real Estate Report 2026

Key Insights at a Glance 

Nursing Homes & Assisted Living · Medical Office Buildings · Preventive Care & Rehabilitation Facilities

By 2070, the number of people requiring long-term care in Germany is expected to increase by more than 35%, while the population aged 80 and above is projected to grow by around 52%. At the same time, the supply of new healthcare real estate remains limited due to high construction costs and a slowdown in project development activity. The result is a structural demand surplus across nearly all healthcare real estate subsectors, creating an attractive market environment characterized by long-term stable cash flows and strong yield-supporting fundamentals.

01 Nursing Homes & Assisted Living

The care provision gap continues to widen. Despite the political emphasis on outpatient services, inpatient care remains indispensable. At the same time, new construction activity is declining while demand continues to rise. Nursing homes and assisted living facilities therefore offer an attractive combination of sustained rental demand, high social relevance, and stable returns.

02 Outpatient Medical Care

Outpatient healthcare is one of the most dynamic growth areas within the healthcare sector. Since 2014, the number of Medical Office Buildings (MOBs) has grown by 148 per cent to more than 5,000 facilities. The trend towards larger healthcare hubs, specialist medical centres and multidisciplinary medical practices is being accelerated by the shortage of healthcare professionals and the ongoing structural transformation of the healthcare system. For investors, MOBs offer long-term lease structures, demand supported by public healthcare provision and favourable demographic tailwinds. 

03 Preventive Care & Rehabilitation Facilities

As part of the inpatient healthcare sector, preventive care and rehabilitation facilities have emerged as a distinct asset class attracting increasing investor attention in recent years. In addition to benefiting from an aging population and rising patient volumes, rehabilitation properties are supported by the healthcare policy principle of “rehabilitation before retirement, rehabilitation before nursing care.” High occupancy rates, limited supply, and attractive yields are making this segment increasingly appealing to institutional investors.