In a guest commentary in the “Immobilien Zeitung” of 25.7.2013, Oliver Herrmann, Managing Director of redos, writes that in their euphoria over German residential property, investors have completely left out of account the political risks associated with this class of asset. At the present time a good deal of uncertainty is making itself felt, because investors are having difficulty estimating to what extent political demands for further regulation of the residential housing market will actually be implemented after the election. Hermann stresses the contrasting situation of the commercial property market, where the politicians are less inclined to favour regulatory intervention.