Germany Real Estate / Construction Corporate Bond Yields (EUR)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/eur-corporate-real-estate-construction-germany
Germany Real Estate / Construction Corporate Bond Yields (EUR) as of 2026-09-10: 10Y at 5.00%, fitted curve 6M–25Y (3.48%–5.43%), 57 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 6M | 3.48% | — |
| 9M | 3.53% | 3.73% |
| 12M | 3.59% | 3.73% |
| 18M | 3.69% | 3.95% |
| 2Y | 3.80% | 4.17% |
| 3Y | 4.00% | 4.49% |
| 4Y | 4.19% | 4.88% |
| 5Y | 4.37% | 5.23% |
| 6Y | 4.53% | 5.53% |
| 7Y | 4.67% | 5.77% |
| 8Y | 4.80% | 5.96% |
| 9Y | 4.90% | 6.10% |
| 10Y | 5.00% | 6.19% |
| 15Y | 5.28% | 6.25% |
| 25Y | 5.43% | 5.97% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 3.80% and the 10-year 5.00%, a 10Y−2Y spread of +120 bp — positively sloped — as of 2026-09-10. The chart and table below track how they have moved.
Fitted 2Y and 10Y yields and their spread, sampled one build date per month. See all inverted curves today →
| Tenor | Latest2026-09-10 | 1m ago2026-08-11 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-13 | 5m ago2026-04-13 | 6m ago2026-03-13 |
|---|---|---|---|---|---|---|---|
| 2Y | 3.80% | 3.32% | 3.25% | 3.32% | 3.33% | 3.32% | 3.00% |
| 10Y | 5.00% | — | 4.48% | 4.44% | 4.48% | 4.53% | — |
| 10Y − 2Y | +120 bp | — | +124 bp | +113 bp | +114 bp | +121 bp | — |
Yields by rating group
The same curve split by credit quality: 52 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: A+ to BBB- 4.41%, Speculative 6.05%.
Bonds in this curve
A selection of 30 of the 58 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Grand City Properties S.A. | 3.27% | 2027-02-22 | 1.50% | XS1781401085 |
| Vonovia SE | 3.36% | 2027-06-16 | 0.38% | DE000A3E5MG8 |
| Hochtief AG | 3.34% | 2027-09-03 | 0.50% | DE000A2YN2U2 |
| Vonovia SE | 3.50% | 2027-10-07 | 0.62% | DE000A2R8ND3 |
| Alstria Office AG | 5.07% | 2027-11-15 | 1.50% | XS1717584913 |
| Grand City Properties S.A. | 3.90% | 2028-01-11 | 0.12% | XS2282101539 |
| Vonovia SE | 3.59% | 2028-01-14 | 1.50% | DE000A19UR79 |
| Vonovia SE | 3.96% | 2028-06-28 | 1.88% | DE000A3MQS64 |
| Vonovia SE | 3.78% | 2028-09-01 | 0.25% | DE000A3MP4U9 |
| LEG Immobilien SE | 4.00% | 2029-01-17 | 0.88% | DE000A3MQNP4 |
| Hochtief AG | 3.63% | 2029-04-26 | 0.62% | DE000A3E5S00 |
| Vonovia SE | 3.82% | 2029-09-14 | 0.50% | DE000A2R7JD3 |
| Heidelberg Materials AG | 3.78% | 2029-10-10 | 3.50% | XS3379436325 |
| Vonovia SE | 4.05% | 2030-03-22 | 2.12% | DE000A19X8B2 |
| Vonovia SE | 4.16% | 2030-04-07 | 2.25% | DE000A28VQD2 |
| Deutsche Wohnen SE | 4.22% | 2030-04-30 | 1.50% | DE000A289NF1 |
| Vonovia SE | 4.28% | 2031-03-24 | 0.62% | DE000A3E5FR9 |
| Deutsche Wohnen SE | 4.44% | 2031-04-07 | 0.50% | DE000A3H25P4 |
| Vonovia SE | 4.21% | 2032-03-25 | 2.38% | DE000A3MQS72 |
| Vonovia SE | 4.44% | 2032-09-01 | 0.75% | DE000A3MP4V7 |
| LEG Immobilien SE | 4.66% | 2033-03-30 | 0.88% | DE000A3H3JU7 |
| Vonovia SE | 4.72% | 2033-06-16 | 1.00% | DE000A3E5MJ2 |
| Vonovia SE | 4.63% | 2034-04-10 | 4.25% | DE000A3829J7 |
| Hochtief AG | 4.46% | 2034-04-15 | 4.00% | DE000A46ZW17 |
| Heidelberg Materials AG | 4.58% | 2035-07-18 | 4.00% | XS3379436598 |
| Vonovia SE | 4.99% | 2038-03-22 | 2.75% | DE000A19X8C0 |
| Vonovia SE | 5.23% | 2038-07-06 | 4.38% | XS3423368417 |
| Vonovia SE | 5.14% | 2039-10-07 | 1.62% | DE000A2R8NE1 |
| Vonovia SE | 5.17% | 2041-01-28 | 1.00% | DE000A287179 |
| Vonovia SE | 5.50% | 2051-09-01 | 1.62% | DE000A3MP4W5 |