Matthias Danne, head of Germany’s largest real estate mutual-fund company, is ready to return to the commercial property market and make purchases in France, Germany and the UK after prices dropped as much as 45%.

'For the first time in five or six years, we can buy Class A properties in prime locations,' the DekaBank Deutsche Girozentrale management board member said in an interview at the Expo Real trade fair in Munich, which takes place in October each year following the Oktoberfest beer festival. 'Two years ago, it was too expensive.'

Deka, Commerz Real and Union Investment Real Estate are leading a revival in acquisitions in Europe by German property funds as the 87.3 billion-euro ($131bn) industry recovers from its second crisis in five years.