Germany Pfandbrief bank real-estate lending, quarterly
Real-estate finance provided by the German Pfandbrief banks: new loan commitments by property type in the quarter, the outstanding stock the commitments feed into, and the amounts actually disbursed on residential mortgages.
| 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
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. The series on this page is quarterly and runs from Q1 2024 to Q2 2026. Source: Association of German Pfandbrief Banks (vdp) / vdpResearch.
- Latest
- 40.6 EUR billion
- Q2 2026
- vs previous period
- +2.0%
- Q1 2026
- vs a year earlier
- +11.2%
About this data
Real-estate finance provided by the German Pfandbrief banks: new loan commitments by property type in the quarter, the outstanding stock the commitments feed into, and the amounts actually disbursed on residential mortgages. Source: vdp and vdpResearch.
