In the first part of the paper a Best Practise for German REITs is developed based on the German experience with open ended property funds and property companies as well as on the international experience with REITs on the one side and the new financial category, the room for manoeuvre on the other side. Following the situation in Germany with the different pressure groups, Initiative Finanzplatz Deutschland, BVI, BfW, GdW, Ministry of Finance, Investment Banks, insurance companies, public open ended property funds, and special open ended property funds is illustrated.