The recent Expo Real 2026 reflected a market environment characterised by continued restraint. At the same time, a clear readiness to realise transactions became apparent, provided that the fundamental conditions justified it. Market sentiment continues to be influenced by economic and geopolitical uncertainties, which weigh on general investment appetite.
Discussions at the fair confirmed that companies have substantial capital requirements and are intensively considering how best to finance them. This necessity to generate capital leads to an increased examination of alternative financing strategies. A notable trend observed in discussions in Munich is the growing interest in sale-leaseback structures, which were discussed as a viable solution for raising liquidity.
Sale-Leaseback as a Strategic Financing Alternative
Particularly in Germany, a challenging financing landscape, high energy costs, and the need for capital for investments and growth are increasingly prompting companies to look beyond traditional financing sources. Sale-leasebacks offer a concrete option here to increase operating liquidity and free up tied-up capital, which can then be used for core activities or strategic growth. Companies are actively seeking ways to optimise their balance sheet structures while securing the use of their properties.
The outlook for sale-leasebacks remains positive. A relevant factor whose development needs to be closely monitored is the expansion of corporate credit spreads. Should their expansion continue, a further increase in the relative economic attractiveness of sale-leasebacks compared to other financing options is to be expected. This would further strengthen the position of sale-leasebacks as a preferred instrument for capital procurement.
Outlook for the European Market
Parallel to the increasing attractiveness of sale-leasebacks, there continues to be strong investor demand for high-quality real estate. This combination creates favourable conditions for the development of the European sale-leaseback market in the coming twelve to 18 months. The convergence of corporate needs seeking flexible financing solutions and the continued interest of investors in stable real assets is likely to further strengthen this sector and promote its growth in the European context.
