Germany Pfandbrief real estate lending
Germany Pfandbrief real estate lending tracks new loan commitments and outstanding stock from the vdp.
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| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| New loan commitments3 | ||||||||||||||
| Total real-estate financing | 40.6 | 39.8 | 38.2 | 36.3 | 36.5 | 37.6 | 32.8 | 32 | 32.8 | 30.8 | ||||
| Residential property financing2 | 24.9 | 25.2 | 22.7 | 22.3 | 23 | 24.6 | 18.9 | 20.2 | 20.2 | 19.5 | ||||
| By property type4 | ||||||||||||||
| One- and two-family houses | 11.3 | 11.9 | 11 | 10.9 | 11 | 11.3 | 9.1 | 10 | 9.5 | 9.4 | ||||
| Condominiums | 5.6 | 5.6 | 5.2 | 5 | 5.1 | 5.4 | 4.3 | 4.7 | 4.6 | 4.3 | ||||
| Multi-family houses | 6.7 | 6.5 | 5.3 | 5.2 | 5.7 | 6.6 | 4.3 | 4.3 | 4.8 | 4.5 | ||||
| Other residential property | 1.3 | 1.2 | 1.2 | 1.2 | 1.2 | 1.3 | 1.2 | 1.2 | 1.3 | 1.3 | ||||
| By location2 | ||||||||||||||
| Residential property in Germany | 22.3 | 22.6 | 20.5 | 20.4 | 20.4 | 22.1 | 17.5 | 18.5 | 18.5 | 18.2 | ||||
| Residential property abroad | 2.6 | 2.6 | 2.2 | 1.9 | 2.6 | 2.5 | 1.4 | 1.7 | 1.7 | 1.3 | ||||
| Commercial property financing4 | 15.7 | 14.6 | 15.5 | 14 | 13.5 | 13 | 13.9 | 11.8 | 12.6 | 11.3 | ||||
| Office buildings | 7.9 | 6.9 | 8.1 | 7.2 | 7.6 | 5.9 | 7.5 | 6.4 | 6.4 | 6.3 | ||||
| Retail buildings | 4.3 | 4.7 | 3.9 | 3.2 | 3 | 3.4 | 3.8 | 2.8 | 3.1 | 2.3 | ||||
| Hotels | 1.8 | 0.6 | 1.2 | 1.1 | 0.9 | 1.3 | 0.9 | 0.9 | 0.8 | 0.6 | ||||
| Industrial buildings | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | 0.5 | 0.9 | ||||
| Outstanding loan stock3 | ||||||||||||||
| Total real-estate financing | 1,041.3 | 1,040.4 | 1,040.3 | 1,040.2 | 1,041.3 | 1,041.9 | 1,042.1 | 1,043.2 | 1,043.8 | 1,044.6 | ||||
| Residential property financing2 | 762.9 | 760 | 756.8 | 754.6 | 752.9 | 750.5 | 747.4 | 748.1 | 748.2 | 748.4 | ||||
| By property type4 | ||||||||||||||
| One- and two-family houses | 401.7 | 400.6 | 398.8 | 397.4 | 396.1 | 394.7 | 393.1 | 393.3 | 393.1 | 393.2 | ||||
| Condominiums | 159.2 | 158.4 | 157.6 | 156.9 | 156.4 | 155.8 | 155 | 154.9 | 154.7 | 154.5 | ||||
| Multi-family houses | 177.4 | 176.7 | 176.2 | 176.4 | 176.7 | 176.6 | 176.2 | 177.2 | 178.2 | 179 | ||||
| Other residential property | 24.6 | 24.3 | 24.2 | 23.9 | 23.7 | 23.4 | 23.1 | 22.7 | 22.2 | 21.7 | ||||
| By location2 | ||||||||||||||
| Residential property in Germany | 716.5 | 714.7 | 712.4 | 711 | 709.7 | 708.5 | 706.3 | 707.2 | 707.6 | 708 | ||||
| Residential property abroad | 46.4 | 45.3 | 44.4 | 43.6 | 43.2 | 42 | 41.1 | 40.9 | 40.6 | 40.4 | ||||
| Commercial property financing4 | 278.4 | 280.4 | 283.5 | 285.6 | 288.4 | 291.4 | 294.7 | 295.1 | 295.6 | 296.2 | ||||
| Office buildings | 146.3 | 147.4 | 149.6 | 150.6 | 152 | 153.2 | 155.3 | 155.5 | 155.9 | 156.3 | ||||
| Retail buildings | 70.1 | 70.4 | 70.4 | 71.3 | 72.5 | 73.8 | 74.9 | 74.8 | 74.8 | 74.6 | ||||
| Hotels | 24.2 | 23.6 | 24.1 | 24 | 23.9 | 24 | 23.8 | 24 | 24.1 | 24.3 | ||||
| Industrial buildings | 6 | 6.2 | 6.4 | 6.5 | 6.7 | 6.8 | 6.9 | 7 | 7.1 | 7.2 | ||||
| Residential mortgage disbursements2 | ||||||||||||||
| Mortgage disbursements | 58.2 | 58.5 | 61 | 62.3 | 59.6 | 56.2 | 53.2 | 54.3 | 51.7 | 46.7 | 50.5 | 48.7 | 47.8 | |
| Year-on-year change | -2.35 | 4.09 | 14.66 | 14.73 | 15.28 | 20.34 | 5.35 | 11.5 | 8.16 | -5.27 | -8.35 | -28.17 | -36.86 |
Latest reading
The series on this page is quarterly and runs from Q1 2024 to Q2 2026.
About this data
Germany Pfandbrief real estate lending tracks new loan commitments and outstanding stock from the vdp. The data includes residential property financing for houses and condominiums, and commercial property financing for office, retail, hotel and industrial buildings. The Association of German Pfandbrief Banks publishes this quarterly data since 2019, showing absolute values and year-on-year percentage changes.
Frequently asked questions
- What is the latest figure for Germany Pfandbrief real estate lending?
- Total real-estate financing stood at 40.6 EUR billion in Q2 2026. That is +2.0% from Q1 2026 and +11.2% from a year earlier.
- Is Germany Pfandbrief real estate lending at a high or a low right now?
- The reading of 40.6 EUR billion is the highest in data going back to Q1 2024.
- How far back does the Germany Pfandbrief real estate lending data go?
- The series on this page is quarterly and runs from Q1 2024 to Q2 2026. Every series in the table can be charted over its full history and downloaded as CSV or Excel.
- What does Germany Pfandbrief real estate lending measure?
- Germany Pfandbrief real estate lending measures the total real estate finance provided by German Pfandbrief banks. It tracks new loan commitments and the outstanding loan stock for both residential and commercial property financing.
- Which property types are included in German Pfandbrief real estate lending data?
- The German Pfandbrief real estate lending data includes breakdowns for residential property such as one- and two-family houses, condominiums and multi-family houses. Commercial property financing is broken down into office buildings, retail buildings, hotels and industrial buildings.
- Does the German Pfandbrief data show properties abroad?
- Yes, the Germany Pfandbrief real estate lending statistics distinguish between residential property financing located in Germany and residential property located abroad. It also tracks the actual mortgage disbursements alongside new loan commitments.