DB prefers commercial real estate as economic outlook improves

CTP NV

30/06/2025 09:32

** Deutsche Bank shifts preference towards commercial real estate over the residential sector, citing improving economic outlook, high long-term interest rates

 ** DB sees recession risks fading, tariff tensions de-escalating and German fiscal stimulus as supportive

 ** It also points to high long-term interest rates, making the overall picture less favourable for residential real estate

** It names Merlin Properties MRL.MC, Gecina and WDP as top picks in the commercial real estate sector

** The broker ups French property firm Gecina GFCP.PA, Central European logistics developer CTP CTPN.AS to "buy" from "hold"

** It initiates coverage on Belgian logistics company Warehouses de Pauw WDPP.BR with "buy" and EUR 25 price target

(Reporting by Olivier Cherfan)

((olivier.cherfan@thomsonreuters.com))