CrowdSquare - Invest in real estate online

Top 5 Real Estate Investment Funds in Germany: Best Alternatives to REITs

Germany has long been considered one of Europe’s most stable and attractive real estate markets, drawing interest from both local and international investors. For those looking to gain exposure to commercial and residential property without directly buying assets, real estate investment funds (REIFs), particularly open-ended ones, offer a flexible and diversified way to participate.

In this article, we explore the top 5 real estate investment funds in Germany that have demonstrated consistent performance, robust asset management, and broad portfolio diversification. Whether you're a conservative investor or looking for long-term capital preservation, these funds are among the most trusted in the German property market.

Managed by: Deka Immobilien Investment GmbH

Focus: Pan-European commercial real estate

Assets Under Management (AUM): Approx. €16 billion

Deka-ImmobilienEuropa is one of the largest and most recognized real estate funds in Germany. It focuses on high-quality commercial properties across key European markets such as Germany, France, the Netherlands, and the UK.

Why it stands out

• Wide sector diversification (offices, logistics, retail, hotels)

• Conservative management with low vacancy rates

• Strong liquidity and transparency for investors

The fund is ideal for long-term investors seeking stability and regular income through rental yields.

Managed by: Union Investment Real Estate GmbH

Focus: German core real estate

AUM: Approx. €13 billion

UniImmo: Deutschland focuses primarily on high-quality office and retail properties in major German cities like Berlin, Munich, and Frankfurt. It is tailored for investors seeking a strong domestic portfolio with minimal currency risk.

Key features

• German-focused investments with strict quality criteria

• Steady annual returns between 2–3% in recent years

• Ideal for conservative investors focused on local assets

The fund has built a reputation for risk-averse strategies and stable long-term growth.

Managed by: Commerz Real AG

Focus: Global, with a strong European core

AUM: Approx. €17 billion

hausInvest is a globally diversified fund that emphasizes sustainable and energy-efficient real estate. With assets in more than 15 countries, the fund covers a mix of office buildings, hotels, and shopping centers.

Highlights

• ESG-compliant investment approach

• Proven crisis resilience and continuous positive returns

• Low minimum investment, accessible to retail investors

Its balance of income and growth makes it attractive for medium- to long-term investors.

Managed by: Union Investment Real Estate GmbH

Focus: Commercial real estate across Europe

AUM: Approx. €14 billion

UniImmo: Europa complements its Germany-focused counterpart by targeting stable, high-value properties across other European economies, including France, Belgium, and Austria.

Strengths

• Eurozone-only investments reduce FX exposure

• Balanced allocation between core and core-plus assets

• Suitable for investors seeking geographical diversification

This fund is a good fit for those who want European diversification while still relying on Union Investment's strong asset selection.

Managed by: Deka Immobilien

Focus: Office and retail in core European markets

AUM: Approx. €9 billion

WestInvest InterSelect concentrates on first-class office buildings in top-tier locations such as London, Paris, and Frankfurt. It is particularly appealing to institutional investors but is also open to private investors.

What to know

• Portfolio stability with long-term leases

• Focus on core Western European economies

• Maintains high occupancy rates and tenant quality

While slightly more exclusive, the fund’s stable performance and focus on premium office space make it a solid choice for investors looking for quality over quantity.

Investing in real estate funds allows individuals to tap into the professional asset management and diversification typically reserved for institutional players. The top five real estate investment funds in Germany—Deka-ImmobilienEuropa, UniImmo: Deutschland, hausInvest, UniImmo: Europa, and WestInvest InterSelect—offer well-balanced exposure to both domestic and international property markets.

These funds are ideal for investors seeking:

• Stable income through rental returns

• Long-term capital appreciation

• Exposure to professionally managed property portfolios

• Lower entry points than direct real estate ownership

As always, investors should consider their risk tolerance, investment horizon, and liquidity needs before committing capital. Real estate funds are generally less volatile than equities but are not without risks, especially in periods of rising interest rates or shifting market cycles.