100 % bulwiengesa

In September 2014, bulwiengesa appraisal GmbH was formed for the purpose of simplifying and streamlining processes in strictly independent real estate valuation. This ensures that bulwiengesa market data with its proven quality may now enter directly into property appraisals.

100% Transparent Data Origin

What banks, investors and property asset holders value most when it comes to analyses and appraisals are trust and integrity. It is on this sort of quality-tested information and data that "bulwiengesa appraisal" bases its valid, marketable solutions. Both for front and back office business functions.

100% Regulation-Compliant

bulwiengesa is known for the high quality of its property data across segments and with regional drill-down depth. As the acknowledged result of methodological and regulatory best practice, our data are used by Deutsche Bundesbank, European Central Bank, and the IMF, among others. At the same time, our in-house information system RIWIS analyses several thousand specific properties each year, focusing on relevant real estate industry parameters such as rent, purchase price, and yield rate. This enables the appraiser team to rely on a fully valid data basis.

100% Coverage of the Product Spectrum

We offer fair market value reports and mortgage appraisal reports. Methods used include the depreciated replacement cost and income capitalisation methods under German law as well as Red Book-compliant and earnings-based approaches (DCF analyses).

Specifically, the following products are available:
  • Fair value / market value appraisal pursuant to the German Building Code (BauGB) / German Real Estate Valuation Ordinance (ImmoWertV)
  • mortgage appraisal report pursuant to the German Mortgage Bond Act (PfandBG) / Mortgage Lending Value Ordinance (BelWertV)
  • Fair value measurement for financial reporting purposes under the IFRS
  • Appraisal reports in accordance with international standards RICS, TEGoVA, JVSC
  • Portfolio valuations


Drop us a line

bulwiengesa appraisal GmbH
Wallstraße 61
10179 Berlin
Tel.: +49 30 27 87 68-0

Ralf-Peter Koschny CRE FRICS
Tel. +49 40 42 32 22-16

Dipl.-Kaufmann, Immobilienökonom (EBS)
Sven Carstensen MRICS
Tel. +49 30 27 87 68 10

MBA Int. Real Estate Management
Ralf Fröba MRICS
Tel. +49 89 23 23 76-24

Marcus Badmann FRICS
Head of Valuation
CIS HypZert (F), öbuv Sachverständiger
Tel. +49 69 75 61 467 59