Germany house and commercial property prices and rents, quarterly
The German property market by quarter, from the Bundesbank property statistics: residential property price indices for the country, the large cities and the categories of town, office and retail price indices, and the rents, yields, affordability and turnover indicators published alongside them.
| Indicator | Q3-2026 | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Residential: market indicators3 | ||||||||||||||
| Financial Indicators23 | ||||||||||||||
| Stock of domestic banks' loans for house purchase to domestic companies as a percentage of GDP | 4.88 | 4.9 | 4.95 | 5 | 5.06 | 5.08 | 5.11 | 5.14 | 5.16 | 5.18 | 5.19 | 5.18 | ||
| Stock of domestic banks' loans for house purchase to domestic households as a percentage of GDP | 35.17 | 35.35 | 35.45 | 35.59 | 35.64 | 35.68 | 35.84 | 36.09 | 36.21 | 36.28 | 36.42 | 36.72 | ||
| Debt of German households as a percentage of GDP according to ESA 2010 | 48 | 48.33 | 48.59 | 48.64 | 48.75 | 49 | 49.21 | 49.39 | 49.76 | 50.21 | 50.85 | |||
| Loans of German households for house purchase as a percentage of GDP according to ESA 2010 | 37.39 | 37.61 | 37.73 | 37.76 | 37.81 | 37.95 | 38.1 | 38.22 | 38.42 | 38.74 | 39.12 | |||
| Debt of German households as a percentage of disposable income according to ESA 2010 | 81.74 | 82.21 | 82.53 | 82.47 | 82.59 | 82.99 | 83.89 | 84.56 | 85.25 | 86.45 | 87.38 | |||
| Loans of German households for house purchase as a percentage of disposable income according to ESA 2010 | 63.68 | 63.98 | 64.09 | 64.02 | 64.05 | 64.28 | 64.96 | 65.43 | 65.82 | 66.7 | 67.24 | |||
| Changes in credit standards and margins for loans to German households for house purchase, Bank Lending Survey:DE:TERMS AND CONDITIONS FOR HOUSING LOANS, q. 12, price: margin on average loans, net balances | -3.7 | -7.4 | -7.4 | 7.4 | -11.1 | -7.4 | -11.1 | -18.5 | -14.8 | -3.6 | -7.1 | -7.1 | ||
| Changes in credit standards and margins for loans to German households for house purchase, Bank Lending Survey:DE:TERMS AND CONDITIONS FOR HOUSING LOANS, q. 12, price: margin on riskier loans, net balances | 7.4 | 3.7 | -3.7 | 11.1 | 0 | -3.7 | -3.7 | -3.7 | -7.4 | 3.6 | 0 | 14.3 | ||
| Changes in credit standards and margins for loans to German households for house purchase, Bank Lending Survey:DE:CREDIT STANDARDS FOR HOUSING LOANS, q. 10, net balances | 7.4 | 3.7 | 11.1 | 3.7 | 11.1 | -7.4 | 11.1 | 7.4 | 7.4 | 7.1 | 0 | 3.6 | ||
| Changes in credit standards and margins for loans to German households for house purchase, Bank Lending Survey:DE:OUTLOOK FOR CREDIT STANDARDS FOR HOUSING LOANS, q. 21, net balances | -3.7 | 11.1 | 11.1 | 7.4 | 7.4 | 18.5 | 7.4 | 0 | 11.1 | 10.7 | 17.9 | 7.1 | 3.6 | |
| Interest payments on loans to German households for house purchase as a percentage of disposable income | 1.42 | 1.39 | 1.35 | 1.33 | 1.31 | 1.28 | 1.26 | 1.25 | 1.23 | 1.21 | 1.21 | 1.2 | ||
| Interest payments on loans to German households for house purchase as a percentage of disposable income (year-on-year change) | 0.11 | 0.11 | 0.1 | 0.08 | 0.08 | 0.07 | 0.05 | 0.05 | 0.06 | 0.06 | 0.07 | 0.07 | ||
| Effective interest rates of German banks, new business, loans to households for house purchase, floating rate or an initial rate fixation up to 1 year | 4.29 | 4.13 | 4.15 | 4.15 | 4.34 | 4.52 | 4.93 | 5.35 | 5.47 | 5.38 | 5.57 | 5.3 | ||
| Effective interest rates of German banks, new business, loans to households for house purchase, initial rate fixation of over 1 year and up to 5 years | 3.89 | 3.62 | 3.59 | 3.54 | 3.55 | 3.57 | 3.73 | 4.01 | 4.13 | 4.07 | 4.52 | 4.46 | ||
| Effective interest rates of German banks, new business, loans to households for house purchase, initial rate fixation of over 5 years and up to 10 years | 3.72 | 3.6 | 3.57 | 3.57 | 3.5 | 3.35 | 3.37 | 3.57 | 3.61 | 3.56 | 3.86 | 3.81 | ||
| Effective interest rates of German banks, new business, loans to households for house purchase, initial rate fixation of over 10 years | 3.95 | 3.8 | 3.72 | 3.74 | 3.65 | 3.48 | 3.39 | 3.61 | 3.67 | 3.59 | 3.82 | 3.86 | ||
| Interest spread: difference between the interest rates on loans for house purchase with an initial rate fixation of over 5 and up to 10 years and an initial rate fixation of over 1 and up to 5 years | -0.17 | -0.02 | -0.02 | 0.03 | -0.04 | -0.23 | -0.36 | -0.45 | -0.52 | -0.51 | -0.67 | -0.66 | ||
| Fixed interest periods for loans to German households for house purchase ... over 1 year and up to 5 years | 10.46 | 10.72 | 10.92 | 11 | 10.65 | 9.67 | 10.27 | 9.59 | 9.95 | 11.16 | 11.52 | 9.82 | ||
| Fixed interest periods for loans to German households for house purchase ... over 5 years and up to 10 years | 35.32 | 33.59 | 33.63 | 32.62 | 31.94 | 30.01 | 30.91 | 37.13 | 38.04 | 36 | 36.98 | 36.97 | ||
| Fixed interest periods for loans to German households for house purchase ... over 10 years | 42.23 | 43.85 | 43.45 | 44.83 | 45.29 | 48.78 | 47.3 | 41.84 | 40.18 | 40.7 | 38.1 | 39.38 | ||
| Fixed interest periods for loans to German households for house purchase ... floating rate or up to 1 year | 11.99 | 11.85 | 12.01 | 11.55 | 12.12 | 11.54 | 11.53 | 11.44 | 11.83 | 12.14 | 13.4 | 13.83 | ||
| Domestic banks' loans for house purchase to domestic companies, seasonally adjusted | 2.2 | 2 | 2.5 | 2.1 | 1.6 | 1.5 | 1.6 | 2.3 | 3.3 | 5 | 5.4 | 5.5 | ||
| Domestic banks' loans for house purchase to domestic households, seasonally adjusted | 2.5 | 2.5 | 2.5 | 2.3 | 2 | 1.6 | 1.3 | 1 | 1 | 0.9 | 1.1 | 1.8 | ||
| Price Indicators9 | ||||||||||||||
| Verband deutscher Pfandbriefbanken, Index for owner occupied housing, unadjusted | 193.9 | 193.1 | 192.7 | 191.1 | 190 | 188.4 | 187.2 | 186.6 | 185 | 184.3 | 184.8 | 187.8 | ||
| Statistisches Bundesamt (Destatis), House price index, unadjusted | 183 | 182.4 | 183.3 | 182.1 | 180.4 | 177.9 | 177.7 | 176.2 | 173.9 | 174.6 | 178.1 | |||
| Hypoport AG, Overall index, unadjusted | 224.7 | 223.6 | 223.6 | 222.8 | 221.1 | 220.3 | 219.5 | 217.1 | 215.8 | 213.7 | 211.7 | 212.8 | ||
| Commercial property price index, multi-family dwellings | 204.6 | 203.9 | 203.1 | 202.5 | 201.2 | 200 | 198.8 | 196.3 | 194.6 | 194.2 | 193.4 | 194.2 | ||
| Commercial property price index, multi-family dwellings, 7 large cities | 220 | 220.2 | 218.9 | 217.8 | 215.4 | 215.4 | 211.4 | 207.2 | 205.4 | 204.7 | 201 | 201.9 | ||
| Annuity-to-income ratio, normed | 115.1 | 114.1 | 113.7 | 114.3 | 113.8 | 111.2 | 111 | 114.2 | 114.6 | 114.7 | 121.6 | 123.5 | ||
| Price-to-income ratio, normed | 117.6 | 118.4 | 118.4 | 119.1 | 119.5 | 119.1 | 118.5 | 118.8 | 118.8 | 119.6 | 122.1 | 125 | ||
| Price-to-rent ratio, normed | 105.4 | 105.8 | 105.7 | 105.5 | 106 | 105.9 | 106.1 | 106.5 | 106.2 | 107 | 109.6 | 113.6 | ||
| Consumer price index, unadjusted figures, 04.11 housing rents (including rental value of owner-occupied dwellings) | 128.2 | 127.5 | 126.7 | 126.1 | 125.5 | 124.7 | 124 | 123.4 | 122.9 | 122.2 | 121.3 | 120.8 | ||
| Real Economic Indicators5 | ||||||||||||||
| Construction permits - total number of flats, Total (including construction work on existing buildings) - residential and non-residential buildings, total, calendar and seasonally adjusted | 253.12 | 268.45 | 246.03 | 257.89 | 218.61 | 235.32 | 230.49 | 197.33 | 210.2 | 228.22 | 252.11 | 239.02 | ||
| Housing construction investment in Germany as a percentage of GDP | 5.98 | 5.95 | 6.04 | 6.03 | 6.06 | 6.14 | 6.12 | 6.16 | 6.21 | 6.34 | 6.28 | 6.5 | ||
| Housing construction investment in Germany - quarter-on-quarter change in percentage points | 0.03 | -0.09 | 0.01 | -0.03 | -0.08 | 0.02 | -0.04 | -0.06 | -0.12 | 0.05 | -0.22 | -0.16 | ||
| Orders received, at constant prices, residential construction, calendar and seasonally adjusted | 147.63 | 141.91 | 160.87 | 145.84 | 143.49 | 148.87 | 141.7 | 136.25 | 135.15 | 129.98 | 137.84 | 142.67 | ||
| Orders received, at constant prices, residential construction, calendar and seasonally adjusted - quarter-on-quarter change | 4.03 | -11.79 | 10.31 | 1.63 | -3.61 | 5.06 | 4 | 0.82 | 3.98 | -5.7 | -3.38 | -0.15 | ||
| Residential: price indices1 | ||||||||||||||
| House price index Statistisches Bundesamt (Destatis)2 | ||||||||||||||
| Total2 | 100.5 | 100.2 | 100.7 | 100 | 99.1 | 97.7 | 97.6 | 96.8 | 95.5 | 95.9 | 97.8 | |||
| Existing housing | 100.2 | 100.1 | 100.9 | 100 | 99 | 97.7 | 97.4 | 96.9 | 95.5 | 96 | 98 | |||
| New housing | 101.9 | 100.7 | 99.8 | 99.7 | 99.8 | 98 | 98.3 | 96.8 | 95.4 | 95.8 | 96.9 | |||
| Total (Index 2015=100)2 | 153.7 | 153.6 | 152.4 | 150.9 | 149.2 | 149 | 147.8 | 145.8 | 146.4 | 149.3 | ||||
| Existing housing (Index 2015=100) | 154 | 154.3 | 153 | 151 | 149.5 | 149 | 148.2 | 146.2 | 146.9 | 150 | ||||
| New housing (Index 2015=100) | 151.1 | 149.6 | 148.8 | 149.8 | 147 | 147.5 | 145.3 | 143.1 | 143.7 | 145.4 | ||||
| Commercial: market indicators3 | ||||||||||||||
| Financial Indicators28 | ||||||||||||||
| Total mortgage loans to domestic enterprises minus mortgage loans on residential real estate to domestic enterprises, all economic sectors, percentage change (year on year), unadjusted figures | 0.5 | -0.5 | 0 | -0.6 | -1.2 | 0.2 | -0.6 | -0.9 | -0.3 | -1.1 | 0.6 | 2.3 | ||
| Total mortgage loans to domestic enterprises minus mortgage loans on residential real estate to domestic enterprises, wholesale and retail trade, growth contribution, unadjusted figures | -0.2 | -0.2 | -0.4 | -0.4 | -0.5 | -0.4 | -0.3 | -0.3 | -0.2 | -0.2 | -0.2 | -0.1 | ||
| Total mortgage loans to domestic enterprises minus mortgage loans on residential real estate to domestic enterprises, financial intermediaries (excluding MFIs), growth contribution, unadjusted figures | -0.9 | -0.8 | -0.5 | -0.6 | -0.6 | -0.1 | -0.4 | -0.3 | -0.2 | -0.9 | 0.1 | 0.2 | ||
| Total mortgage loans to domestic enterprises minus mortgage loans on residential real estate to domestic enterprises, other real estate activities, growth contribution, unadjusted figures | -0.4 | -0.8 | -0.2 | -0.4 | -0.4 | 0.2 | -0.7 | -1.1 | -0.7 | -0.9 | -0.2 | 0.7 | ||
| Total mortgage loans to domestic enterprises minus mortgage loans on residential real estate to domestic enterprises, services sector excluding other real estate activities, growth contribution, unadjusted figures | 2.3 | 1.9 | 1.3 | 1.2 | 0.5 | 0.8 | 0.9 | 0.9 | 0.9 | 1.1 | 1.2 | 1.7 | ||
| Total mortgage loans to domestic enterprises minus mortgage loans on residential real estate to domestic enterprises, other economic sectors, growth contribution, unadjusted figures | -0.3 | -0.6 | -0.2 | -0.4 | -0.2 | -0.3 | -0.1 | -0.1 | -0.1 | -0.2 | -0.3 | -0.2 | ||
| Total mortgage loans to domestic enterprises minus mortgage loans on residential real estate to domestic enterprises, wholesale and retail trade, percentage change (year-on-year), unadjusted figures | -6.1 | -7.3 | -10.8 | -12.1 | -12.7 | -11.4 | -8.5 | -7.8 | -6 | -6.1 | -4.5 | -3.2 | ||
| Total mortgage loans to domestic enterprises minus mortgage loans on residential real estate to domestic enterprises, other real estate activities, percentage change (year-on-year), unadjusted figures | -0.9 | -2.1 | -0.6 | -1.1 | -1.1 | 0.5 | -1.8 | -2.8 | -1.9 | -2.5 | -0.6 | 1.7 | ||
| Total mortgage loans to domestic enterprises minus mortgage loans on residential real estate to domestic enterprises, services sector excluding other real estate activities, percentage change (year-on-year), unadjusted figures | 6.5 | 5.3 | 3.8 | 3.4 | 1.6 | 2.2 | 2.8 | 2.7 | 2.8 | 3.3 | 3.5 | 5.3 | ||
| Loans to domestic borrowers entailing commercial property risk, construction sector excluding civil engineering, contributions to growth in percentage points, unadjusted | 0 | -0.2 | -0.1 | -0.3 | -0.3 | -0.3 | -0.4 | -0.3 | -0.2 | -0.2 | 0 | |||
| Loans to domestic borrowers entailing commercial property risk, housing enterprises, contributions to growth in percentage points, unadjusted | 1.6 | 1.5 | 1.3 | 1.2 | 1 | 0.8 | 0.5 | 0.3 | 0.5 | 0.7 | 0.7 | |||
| Loans to domestic borrowers entailing commercial property risk, other real estate activities, contributions to growth in percentage points, unadjusted | -0.5 | 0.3 | 0.3 | -0.3 | -0.2 | -0.4 | -0.5 | -0.4 | -0.7 | -0.6 | -0.4 | |||
| Loans to domestic borrowers entailing commercial property risk, construction sector excluding civil engineering, housing enterprises and other real estate activities sector, percentage change (year-on-year), unadjusted | 1.2 | 1.6 | 1.4 | 0.6 | 0.4 | 0.1 | -0.5 | -0.4 | -0.4 | 0 | 0.2 | |||
| Loans to domestic borrowers entailing commercial property risk by economic sector, construction sector excluding civil engineering, percentage change (year-on-year), unadjusted | 0.3 | -1.2 | -0.8 | -2 | -2.3 | -1.9 | -2.6 | -2.1 | -1.2 | -1 | -0.2 | |||
| Loans to domestic borrowers entailing commercial property risk by economic sector, housing enterprises, percentage change (year-on-year), unadjusted | 3.1 | 2.9 | 2.5 | 2.4 | 2 | 1.5 | 0.9 | 0.6 | 1 | 1.4 | 1.3 | |||
| Loans to domestic borrowers entailing commercial property risk by economic sector, other real estate activities, percentage change (year-on-year), unadjusted | -1.4 | 0.8 | 0.8 | -1 | -0.7 | -1.1 | -1.6 | -1.2 | -2 | -1.6 | -1.2 | |||
| Loans to foreign borrowers entailing commercial property risk, construction sector excluding civil engineering, contributions to growth in percentage points, unadjusted | 0.6 | 1.6 | 0.8 | 0.9 | 0.7 | -0.3 | 0.2 | 0.1 | 0.1 | 0.9 | 0.3 | |||
| Loans to foreign borrowers entailing commercial property risk, housing enterprises, contributions to growth in percentage points, unadjusted | -0.4 | -1.2 | -1.2 | -1.4 | -1.4 | -0.7 | -0.6 | -0.8 | -0.4 | -0.6 | -0.9 | |||
| Loans to foreign borrowers entailing commercial property risk, other real estate activities, contributions to growth in percentage points, unadjusted | -2.4 | -2.9 | -1.6 | -3.2 | -1 | 0.2 | -2.4 | 0.9 | 1.2 | 1 | 0.5 | |||
| Loans to foreign borrowers entailing commercial property risk, construction sector excluding civil engineering, housing enterprises and other real estate activities sector, percentage change (year-on-year), unadjusted | -2.2 | -2.5 | -1.9 | -3.7 | -1.7 | -0.8 | -2.8 | 0.3 | 1 | 1.2 | -0.1 | |||
| Loans to foreign borrowers entailing commercial property risk by economic sector, construction sector excluding civil engineering, percentage change (year-on-year), unadjusted | 5.8 | 18.5 | 9.8 | 10 | 7.8 | -2.8 | 2.8 | 1.6 | 1.5 | 11.1 | 3.9 | |||
| Loans to foreign borrowers entailing commercial property risk by economic sector, housing enterprises, percentage change (year-on-year), unadjusted | -2.7 | -7.6 | -7.4 | -8.6 | -8.8 | -4.3 | -4 | -4.7 | -2.2 | -3.6 | -5.1 | |||
| Loans to foreign borrowers entailing commercial property risk by economic sector, other real estate activities, percentage change (year-on-year), unadjusted | -3.1 | -3.9 | -2.1 | -4.3 | -1.3 | 0.2 | -3.1 | 1.2 | 1.6 | 1.3 | 0.6 | |||
| Loans by domestic credit institutions entailing commercial property risk, domestic borrowers, contributions to growth in percentage points, unadjusted | 0.9 | 1.2 | 1.1 | 0.4 | 0.3 | 0.1 | -0.3 | -0.3 | -0.3 | 0 | 0.2 | |||
| Loans by domestic credit institutions entailing commercial property risk, foreign borrowers, contributions to growth in percentage points, unadjusted | -0.6 | -0.6 | -0.5 | -1 | -0.4 | -0.2 | -0.7 | 0.1 | 0.2 | 0.3 | 0 | |||
| Loans by domestic credit institutions entailing commercial property risk, domestic and foreign borrowers, percentage change (year-on-year), unadjusted | 0.3 | 0.5 | 0.6 | -0.6 | -0.1 | -0.1 | -1.1 | -0.3 | 0 | 0.3 | 0.1 | |||
| Loans by domestic credit institutions entailing commercial property risk, domestic borrowers, percentage change (year-on-year), unadjusted | 1.2 | 1.6 | 1.4 | 0.6 | 0.4 | 0.1 | -0.5 | -0.4 | -0.4 | 0 | 0.2 | |||
| Loans by domestic credit institutions entailing commercial property risk, foreign borrowers, percentage change (year-on-year), unadjusted | -2.2 | -2.5 | -1.9 | -3.7 | -1.7 | -0.8 | -2.8 | 0.3 | 1 | 1.2 | -0.1 | |||
| Price Indicators6 | ||||||||||||||
| Commercial property price index, total3 | 168.6 | 169.3 | 169.3 | 168.8 | 167.9 | 167.1 | 165.9 | 164.4 | 163.5 | 163.5 | 164.1 | 165 | ||
| Commercial property price index, office | 166.3 | 168.8 | 169.7 | 169.4 | 168.4 | 168.2 | 166.3 | 165.6 | 165.2 | 166 | 167.7 | 168.2 | ||
| Commercial property price index, retail | 96.7 | 97.4 | 97.5 | 97.3 | 97 | 96.6 | 96.5 | 95.4 | 95.1 | 95.1 | 95.6 | 97.5 | ||
| Commercial property price index, multi family houses | 204.6 | 203.9 | 203.1 | 202.5 | 201.2 | 200 | 198.8 | 196.3 | 194.6 | 194.2 | 193.4 | 194.2 | ||
| Commercial property price index, total, German cities of supra-regional importance3 | 168.8 | 169.8 | 169 | 168.5 | 167.9 | 167.6 | 166.3 | 164.1 | 162.9 | 163.3 | 162.2 | 163.3 | ||
| Commercial property price index, office, German cities of supra-regional importance | 138.7 | 141 | 140.7 | 140.7 | 141.4 | 141.4 | 140.2 | 138.9 | 138.9 | 140 | 140.5 | 141.7 | ||
| Commercial property price index, retail, German cities of supra-regional importance | 92.1 | 93 | 93.6 | 92 | 91 | 88.9 | 88.7 | 87.4 | 86.9 | 88 | 90.5 | 93.4 | ||
| Commercial property price index, multi family houses, German cities of supra-regional importance | 217.7 | 217.5 | 215.7 | 215 | 213.3 | 213.3 | 211.5 | 208.2 | 206 | 205.3 | 201.5 | 202.4 | ||
| Commercial property price index, total, Germany excluding cities of supra-regional importance3 | 168.3 | 168.8 | 169.7 | 169.2 | 167.7 | 166.8 | 165.8 | 164.7 | 164 | 164 | 165.6 | 166.5 | ||
| Commercial property price index, office, Germany excluding cities of supra-regional importance | 199.5 | 201.9 | 204.5 | 203.6 | 200.5 | 200.1 | 197.5 | 197.5 | 196.6 | 197.1 | 200.1 | 199.9 | ||
| Commercial property price index, retail, Germany excluding cities of supra-regional importance | 98.5 | 99 | 99 | 99.3 | 99.2 | 99.5 | 99.5 | 98.4 | 98.2 | 97.8 | 97.5 | 98.9 | ||
| Commercial property price index, multi family houses, Germany excluding cities of supra-regional importance | 191.4 | 190.2 | 190.4 | 189.6 | 188.7 | 186.4 | 186 | 184 | 182.9 | 182.9 | 184.8 | 186 | ||
| Association of German Pfandbrief Banks (Verband deutscher Pfandbriefbanken), index for offices, rents for new lettings | 145.8 | 144.7 | 143.9 | 142.9 | 142.1 | 140.8 | 139.4 | 138.4 | 137.3 | 136.6 | 135.6 | 136 | ||
| Association of German Pfandbrief Banks (Verband deutscher Pfandbriefbanken), index for retail properties, rents for new lettings | 101.4 | 101 | 100.9 | 100.4 | 100 | 99.6 | 99.2 | 98.5 | 97.9 | 97.3 | 96.2 | 95.4 | ||
| Association of German Pfandbrief Banks (Verband deutscher Pfandbriefbanken), index for multi family houses, rents for new lettings | 170.8 | 169.3 | 168.3 | 167 | 165.5 | 164.4 | 162.5 | 161 | 159.8 | 157.7 | 155.4 | 152.5 | ||
| Real Economic Indicators7 | ||||||||||||||
| Building permit index - floor space, total (including construction work on existing buildings) - non-residential buildings (including office and administrative buildings as well as wholesale and retail buildings and warehouses), unadjusted… | 69.2 | 93.8 | 85 | 100.3 | 89.6 | 108 | 91.8 | 97.4 | 111.3 | 119.2 | 111.8 | 125 | ||
| Building permit index - floor space, total (including construction work on existing buildings) - non-residential buildings (including office and administrative buildings), unadjusted figures | 95.5 | 133 | 125.5 | 107 | 115.1 | 130.3 | 118.7 | 128.4 | 122.8 | 190.4 | 158.9 | 159 | ||
| Building permit index - floor space, total (including construction work on existing buildings) - non-residential buildings (including wholesale and retail buildings and warehouses), unadjusted figures | 63.4 | 85.2 | 76.1 | 98.8 | 84 | 103.1 | 85.9 | 90.6 | 108.8 | 103.5 | 101.5 | 117.6 | ||
| Use of GDP, total economy excluding general government, construction investment, non-residential buildings, commercial building constructions, at current prices, percentage of GDP, quarter-on-quarter change in %points, calendar-adjusted… | 0 | -0.1 | -0.1 | 0 | 0 | 0 | 0 | 0 | -0.1 | -0.1 | -0.1 | -0.1 | ||
| Total new orders index for the main construction industry, total, commercial building constructions, quarter-on-quarter change in percentage points, at constant prices, calendar-adjusted only | 0 | 9.2 | 4.1 | 19.2 | -1.2 | 2.3 | -1.3 | -15.5 | 8.2 | -13.7 | -4.2 | 4.2 | ||
| Use of GDP, total economy excluding general government, construction investment, non-residential buildings, commercial building constructions, at current prices, percentage of GDP, calendar and seasonally adjusted | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2.1 | ||
| Total new orders index for the main construction industry, total, commercial building constructions, at constant prices, calendar and seasonally adjusted | 109.9 | 109.3 | 108.4 | 117 | 110.4 | 100.2 | 104.2 | 98.7 | 110.5 | 97.9 | 105.8 | 117.4 | ||
| Commercial: price indices1 | ||||||||||||||
| Commercial property price index8 | ||||||||||||||
| Sub-aggregate multi family houses, RegioStaR 17: Metropolitan urban region: Metropolis: Only seven largest cities | 99.6 | 99.7 | 99.1 | 98.6 | 97.5 | 97.5 | 95.7 | 93.8 | 93 | 92.7 | 91 | 91.4 | ||
| Cities of supra-regional importance1 | ||||||||||||||
| Total, RegioStaR Gem5: Cities of supra-regional importance3 | 91.6 | 92.1 | 91.7 | 91.4 | 91.1 | 90.9 | 90.2 | 89 | 88.4 | 88.6 | 88 | 88.6 | ||
| Sub-aggregate office, RegioStaR Gem5: Cities of supra-regional importance | 83.6 | 85 | 84.8 | 84.8 | 85.2 | 85.2 | 84.5 | 83.7 | 83.7 | 84.4 | 84.7 | 85.4 | ||
| Sub-aggregate retail, RegioStaR Gem5: Cities of supra-regional importance | 83.4 | 84.2 | 84.8 | 83.3 | 82.4 | 80.5 | 80.3 | 79.2 | 78.7 | 79.7 | 82 | 84.6 | ||
| Sub-aggregate multi family houses, RegioStaR Gem5: Cities of supra-regional importance | 98.4 | 98.3 | 97.5 | 97.2 | 96.4 | 96.4 | 95.6 | 94.1 | 93.1 | 92.8 | 91.1 | 91.5 | ||
| Cities of regional importance1 | ||||||||||||||
| Total, RegioStaR Gem5: Cities of regional importance3 | 94.6 | 94.7 | 95.6 | 95.3 | 93.8 | 92.9 | 92.9 | 92.6 | 92.4 | 93.3 | 93.2 | 93.6 | ||
| Sub-aggregate office, RegioStaR Gem5: Cities of regional importance | 92.8 | 94.4 | 96.6 | 96.9 | 94.7 | 93.9 | 92.5 | 92.8 | 93.1 | 94.8 | 93.9 | 93.5 | ||
| Sub-aggregate retail, RegioStaR Gem5: Cities of regional importance | 88.2 | 88.8 | 88.1 | 87.4 | 87.1 | 88.4 | 88.3 | 87 | 86.7 | 85.9 | 85.9 | 87.5 | ||
| Sub-aggregate multi family houses, RegioStaR Gem5: Cities of regional importance | 97.5 | 96.3 | 96.5 | 95.8 | 94.6 | 93.2 | 94.1 | 93.7 | 93 | 93.6 | 94.2 | 95 | ||
| Cities of local importance1 | ||||||||||||||
| Total, RegioStaR Gem5: Cities of local importance3 | 97.1 | 96.9 | 96.7 | 96 | 95.4 | 94.7 | 93.8 | 93.6 | 93.3 | 93.3 | 95.2 | 96.2 | ||
| Sub-aggregate office, RegioStaR Gem5: Cities of local importance | 92.3 | 93 | 93.5 | 92.3 | 90.3 | 90.3 | 88.5 | 89.6 | 89.2 | 89.4 | 91.6 | 93.6 | ||
| Sub-aggregate retail, RegioStaR Gem5: Cities of local importance | 94 | 94.2 | 94.6 | 94.2 | 93.9 | 93.4 | 93.7 | 93.5 | 93.5 | 93.5 | 92.9 | 93.3 | ||
| Sub-aggregate multi family houses, RegioStaR Gem5: Cities of local importance | 102.3 | 101 | 100.1 | 99.6 | 100 | 98.8 | 98.1 | 96.9 | 96.5 | 96.4 | 98.9 | 99.4 | ||
| Urban area1 | ||||||||||||||
| Total, RegioStaR Gem5: Urban area3 | 91.8 | 93.3 | 94 | 93.9 | 93.4 | 93.1 | 92.2 | 91.2 | 90.8 | 89.7 | 90.1 | 89.4 | ||
| Sub-aggregate office, RegioStaR Gem5: Urban area | 90.5 | 91.9 | 92.8 | 91.9 | 90.8 | 90.9 | 90.1 | 89.5 | 89.3 | 87.6 | 89.8 | 87.4 | ||
| Sub-aggregate retail, RegioStaR Gem5: Urban area | 86.9 | 87.5 | 87.1 | 88.1 | 88.5 | 88.9 | 88.4 | 88.3 | 88.4 | 87.9 | 87.2 | 88.4 | ||
| Sub-aggregate multi family houses, RegioStaR Gem5: Urban area | 96.2 | 98.3 | 99.4 | 99.5 | 99.2 | 98.1 | 96.8 | 95 | 94 | 93.1 | 92 | 92.3 | ||
| Village area1 | ||||||||||||||
| Total, RegioStaR Gem5: Village area3 | 89.7 | 89.8 | 90.4 | 91.5 | 92.5 | 92.8 | 92.3 | 89.7 | 88.1 | 87.3 | 90.4 | 91.4 | ||
| Sub-aggregate office, RegioStaR Gem5: Village area | 87.3 | 87.1 | 87.6 | 88.7 | 90.8 | 91.9 | 91.6 | 88.7 | 86.4 | 84.6 | 89.8 | 89.7 | ||
| Sub-aggregate retail, RegioStaR Gem5: Village area | 87.7 | 88.4 | 88.8 | 90.3 | 90.5 | 91.1 | 91 | 87.6 | 86.2 | 86 | 87 | 90.3 | ||
| Sub-aggregate multi family houses, RegioStaR Gem5: Village area | 95.5 | 95.5 | 96.5 | 97.3 | 97.2 | 95.9 | 94.5 | 93.4 | 92.9 | 92.9 | 94.5 | 95.4 | ||
| Total excluding Cities of supra-regional importance1 | ||||||||||||||
| Total, RegioStaR Gem5: Total excluding Cities of supra-regional importance3 | 94.4 | 94.7 | 95.2 | 94.9 | 94.1 | 93.6 | 93 | 92.4 | 92 | 92 | 92.9 | 93.4 | ||
| Sub-aggregate office, RegioStaR Gem5: Total excluding Cities of supra-regional importance | 91.5 | 92.6 | 93.8 | 93.4 | 92 | 91.8 | 90.6 | 90.6 | 90.2 | 90.4 | 91.8 | 91.7 | ||
| Sub-aggregate retail, RegioStaR Gem5: Total excluding Cities of supra-regional importance | 89.9 | 90.4 | 90.4 | 90.6 | 90.5 | 90.8 | 90.8 | 89.8 | 89.6 | 89.3 | 89 | 90.3 | ||
| Sub-aggregate multi family houses, RegioStaR Gem5: Total excluding Cities of supra-regional importance | 98.9 | 98.3 | 98.4 | 98 | 97.5 | 96.3 | 96.1 | 95.1 | 94.5 | 94.5 | 95.5 | 96.1 | ||
| Total2 | 93.1 | 93.5 | 93.5 | 93.2 | 92.7 | 92.3 | 91.6 | 90.8 | 90.3 | 90.3 | 90.6 | 91.1 | ||
| Sub-aggregate office and retail2 | 87.8 | 88.9 | 89.3 | 89.1 | 88.7 | 88.5 | 87.7 | 87.2 | 87 | 87.3 | 88.1 | 88.7 | ||
| Sub-aggregate office | 87.7 | 89 | 89.5 | 89.3 | 88.8 | 88.7 | 87.7 | 87.3 | 87.1 | 87.5 | 88.4 | 88.7 | ||
| Sub-aggregate retail | 88.1 | 88.7 | 88.8 | 88.6 | 88.3 | 88 | 87.9 | 86.9 | 86.6 | 86.6 | 87.1 | 88.8 | ||
| Sub-aggregate multi family houses | 98.6 | 98.3 | 97.9 | 97.6 | 97 | 96.4 | 95.8 | 94.6 | 93.8 | 93.6 | 93.2 | 93.6 |
Latest reading
The latest reading is 4.88%, for Q2 2026. That is unchanged from Q1 2026 and −0.2 pp from a year earlier. The series on this page is quarterly and runs from Q1 2003 to Q2 2026. Source: Deutsche Bundesbank.
- Latest
- 4.88%
- Q2 2026
- vs previous period
- 0.0 pp
- Q1 2026
- vs a year earlier
- −0.2 pp
About this data
The German property market by quarter, from the Bundesbank property statistics: residential property price indices for the country, the large cities and the categories of town, office and retail price indices, and the rents, yields, affordability and turnover indicators published alongside them. Housing and commercial property move on different cycles, which is only visible when they are read together.
