Introduction
Berlin's prices and rents are shaped by local market mechanics as much as by the wider macro environment. This report covers the latter. All time series come from the Deutsche Bundesbank. Primary sources behind them are the ECB, Destatis, the Federal Employment Agency, and selected index providers, depending on the indicator. For the local apartment and apartment-building markets, see the respective market reports.
Peter Guthmann
Managing Director, Founder
Monetary Policy and Yields
Mortgage rates take shape against two figures. The ECB key interest rates determine what banks pay for short-term funding. The yield on the ten-year German government bond serves as the reference for pricing long fixation periods.
ECB Key Interest Rates
The ECB raised its key interest rates between July 2022 and September 2023. The deposit facility rate rose from minus 0.50 percent to 4.00 percent. From June 2024 to June 2025 the ECB lowered it in eight steps to 2.00 percent. In June 2026 it raised the rate to 2.25 percent. In the most recent published month it stands at 2.25 %.
ECB Interest Rates
Main refinancing rate and deposit facility
| Period | Marginal lending | Main refinancing rate | Deposit facility |
|---|---|---|---|
| 2010-01-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-02-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-03-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-04-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-05-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-06-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-07-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-08-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-09-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-10-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-11-01 | 1.75 % | 1.00 % | 0.25 % |
| 2010-12-01 | 1.75 % | 1.00 % | 0.25 % |
| 2011-01-01 | 1.75 % | 1.00 % | 0.25 % |
| 2011-02-01 | 1.75 % | 1.00 % | 0.25 % |
| 2011-03-01 | 1.75 % | 1.00 % | 0.25 % |
| 2011-04-01 | 2.00 % | 1.25 % | 0.50 % |
| 2011-05-01 | 2.00 % | 1.25 % | 0.50 % |
| 2011-06-01 | 2.00 % | 1.25 % | 0.50 % |
| 2011-07-01 | 2.25 % | 1.50 % | 0.75 % |
| 2011-08-01 | 2.25 % | 1.50 % | 0.75 % |
| 2011-09-01 | 2.25 % | 1.50 % | 0.75 % |
| 2011-10-01 | 2.25 % | 1.50 % | 0.75 % |
| 2011-11-01 | 2.00 % | 1.25 % | 0.50 % |
| 2011-12-01 | 1.75 % | 1.00 % | 0.25 % |
| 2012-01-01 | 1.75 % | 1.00 % | 0.25 % |
| 2012-02-01 | 1.75 % | 1.00 % | 0.25 % |
| 2012-03-01 | 1.75 % | 1.00 % | 0.25 % |
| 2012-04-01 | 1.75 % | 1.00 % | 0.25 % |
| 2012-05-01 | 1.75 % | 1.00 % | 0.25 % |
| 2012-06-01 | 1.75 % | 1.00 % | 0.25 % |
| 2012-07-01 | 1.50 % | 0.75 % | 0.00 % |
| 2012-08-01 | 1.50 % | 0.75 % | 0.00 % |
| 2012-09-01 | 1.50 % | 0.75 % | 0.00 % |
| 2012-10-01 | 1.50 % | 0.75 % | 0.00 % |
| 2012-11-01 | 1.50 % | 0.75 % | 0.00 % |
| 2012-12-01 | 1.50 % | 0.75 % | 0.00 % |
| 2013-01-01 | 1.50 % | 0.75 % | 0.00 % |
| 2013-02-01 | 1.50 % | 0.75 % | 0.00 % |
| 2013-03-01 | 1.50 % | 0.75 % | 0.00 % |
| 2013-04-01 | 1.50 % | 0.75 % | 0.00 % |
| 2013-05-01 | 1.00 % | 0.50 % | 0.00 % |
| 2013-06-01 | 1.00 % | 0.50 % | 0.00 % |
| 2013-07-01 | 1.00 % | 0.50 % | 0.00 % |
| 2013-08-01 | 1.00 % | 0.50 % | 0.00 % |
| 2013-09-01 | 1.00 % | 0.50 % | 0.00 % |
| 2013-10-01 | 1.00 % | 0.50 % | 0.00 % |
| 2013-11-01 | 0.75 % | 0.25 % | 0.00 % |
| 2013-12-01 | 0.75 % | 0.25 % | 0.00 % |
| 2014-01-01 | 0.75 % | 0.25 % | 0.00 % |
| 2014-02-01 | 0.75 % | 0.25 % | 0.00 % |
| 2014-03-01 | 0.75 % | 0.25 % | 0.00 % |
| 2014-04-01 | 0.75 % | 0.25 % | 0.00 % |
| 2014-05-01 | 0.75 % | 0.25 % | 0.00 % |
| 2014-06-01 | 0.40 % | 0.15 % | -0.10 % |
| 2014-07-01 | 0.40 % | 0.15 % | -0.10 % |
| 2014-08-01 | 0.40 % | 0.15 % | -0.10 % |
| 2014-09-01 | 0.30 % | 0.05 % | -0.20 % |
| 2014-10-01 | 0.30 % | 0.05 % | -0.20 % |
| 2014-11-01 | 0.30 % | 0.05 % | -0.20 % |
| 2014-12-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-01-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-02-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-03-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-04-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-05-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-06-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-07-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-08-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-09-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-10-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-11-01 | 0.30 % | 0.05 % | -0.20 % |
| 2015-12-01 | 0.30 % | 0.05 % | -0.30 % |
| 2016-01-01 | 0.30 % | 0.05 % | -0.30 % |
| 2016-02-01 | 0.30 % | 0.05 % | -0.30 % |
| 2016-03-01 | 0.25 % | 0.00 % | -0.40 % |
| 2016-04-01 | 0.25 % | 0.00 % | -0.40 % |
| 2016-05-01 | 0.25 % | 0.00 % | -0.40 % |
| 2016-06-01 | 0.25 % | 0.00 % | -0.40 % |
| 2016-07-01 | 0.25 % | 0.00 % | -0.40 % |
| 2016-08-01 | 0.25 % | 0.00 % | -0.40 % |
| 2016-09-01 | 0.25 % | 0.00 % | -0.40 % |
| 2016-10-01 | 0.25 % | 0.00 % | -0.40 % |
| 2016-11-01 | 0.25 % | 0.00 % | -0.40 % |
| 2016-12-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-01-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-02-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-03-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-04-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-05-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-06-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-07-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-08-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-09-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-10-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-11-01 | 0.25 % | 0.00 % | -0.40 % |
| 2017-12-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-01-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-02-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-03-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-04-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-05-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-06-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-07-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-08-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-09-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-10-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-11-01 | 0.25 % | 0.00 % | -0.40 % |
| 2018-12-01 | 0.25 % | 0.00 % | -0.40 % |
| 2019-01-01 | 0.25 % | 0.00 % | -0.40 % |
| 2019-02-01 | 0.25 % | 0.00 % | -0.40 % |
| 2019-03-01 | 0.25 % | 0.00 % | -0.40 % |
| 2019-04-01 | 0.25 % | 0.00 % | -0.40 % |
| 2019-05-01 | 0.25 % | 0.00 % | -0.40 % |
| 2019-06-01 | 0.25 % | 0.00 % | -0.40 % |
| 2019-07-01 | 0.25 % | 0.00 % | -0.40 % |
| 2019-08-01 | 0.25 % | 0.00 % | -0.40 % |
| 2019-09-01 | 0.25 % | 0.00 % | -0.50 % |
| 2019-10-01 | 0.25 % | 0.00 % | -0.50 % |
| 2019-11-01 | 0.25 % | 0.00 % | -0.50 % |
| 2019-12-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-01-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-02-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-03-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-04-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-05-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-06-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-07-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-08-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-09-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-10-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-11-01 | 0.25 % | 0.00 % | -0.50 % |
| 2020-12-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-01-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-02-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-03-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-04-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-05-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-06-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-07-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-08-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-09-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-10-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-11-01 | 0.25 % | 0.00 % | -0.50 % |
| 2021-12-01 | 0.25 % | 0.00 % | -0.50 % |
| 2022-01-01 | 0.25 % | 0.00 % | -0.50 % |
| 2022-02-01 | 0.25 % | 0.00 % | -0.50 % |
| 2022-03-01 | 0.25 % | 0.00 % | -0.50 % |
| 2022-04-01 | 0.25 % | 0.00 % | -0.50 % |
| 2022-05-01 | 0.25 % | 0.00 % | -0.50 % |
| 2022-06-01 | 0.25 % | 0.00 % | -0.50 % |
| 2022-07-01 | 0.75 % | 0.50 % | 0.00 % |
| 2022-08-01 | 0.75 % | 0.50 % | 0.00 % |
| 2022-09-01 | 1.50 % | 1.25 % | 0.75 % |
| 2022-10-01 | 1.50 % | 1.25 % | 0.75 % |
| 2022-11-01 | 2.25 % | 2.00 % | 1.50 % |
| 2022-12-01 | 2.75 % | 2.50 % | 2.00 % |
| 2023-01-01 | 2.75 % | 2.50 % | 2.00 % |
| 2023-02-01 | 3.25 % | 3.00 % | 2.50 % |
| 2023-03-01 | 3.75 % | 3.50 % | 3.00 % |
| 2023-04-01 | 3.75 % | 3.50 % | 3.00 % |
| 2023-05-01 | 4.00 % | 3.75 % | 3.25 % |
| 2023-06-01 | 4.25 % | 4.00 % | 3.50 % |
| 2023-07-01 | 4.25 % | 4.00 % | 3.50 % |
| 2023-08-01 | 4.50 % | 4.25 % | 3.75 % |
| 2023-09-01 | 4.75 % | 4.50 % | 4.00 % |
| 2023-10-01 | 4.75 % | 4.50 % | 4.00 % |
| 2023-11-01 | 4.75 % | 4.50 % | 4.00 % |
| 2023-12-01 | 4.75 % | 4.50 % | 4.00 % |
| 2024-01-01 | 4.75 % | 4.50 % | 4.00 % |
| 2024-02-01 | 4.75 % | 4.50 % | 4.00 % |
| 2024-03-01 | 4.75 % | 4.50 % | 4.00 % |
| 2024-04-01 | 4.75 % | 4.50 % | 4.00 % |
| 2024-05-01 | 4.75 % | 4.50 % | 4.00 % |
| 2024-06-01 | 4.50 % | 4.25 % | 3.75 % |
| 2024-07-01 | 4.50 % | 4.25 % | 3.75 % |
| 2024-08-01 | 4.50 % | 4.25 % | 3.75 % |
| 2024-09-01 | 3.90 % | 3.65 % | 3.50 % |
| 2024-10-01 | 3.65 % | 3.40 % | 3.25 % |
| 2024-11-01 | 3.65 % | 3.40 % | 3.25 % |
| 2024-12-01 | 3.40 % | 3.15 % | 3.00 % |
| 2025-01-01 | 3.40 % | 3.15 % | 3.00 % |
| 2025-02-01 | 3.15 % | 2.90 % | 2.75 % |
| 2025-03-01 | 2.90 % | 2.65 % | 2.50 % |
| 2025-04-01 | 2.65 % | 2.40 % | 2.25 % |
| 2025-05-01 | 2.65 % | 2.40 % | 2.25 % |
| 2025-06-01 | 2.40 % | 2.15 % | 2.00 % |
| 2025-07-01 | 2.40 % | 2.15 % | 2.00 % |
| 2025-08-01 | 2.40 % | 2.15 % | 2.00 % |
| 2025-09-01 | 2.40 % | 2.15 % | 2.00 % |
| 2025-10-01 | 2.40 % | 2.15 % | 2.00 % |
| 2025-11-01 | 2.40 % | 2.15 % | 2.00 % |
| 2025-12-01 | 2.40 % | 2.15 % | 2.00 % |
| 2026-01-01 | 2.40 % | 2.15 % | 2.00 % |
| 2026-02-01 | 2.40 % | 2.15 % | 2.00 % |
| 2026-03-01 | 2.40 % | 2.15 % | 2.00 % |
| 2026-04-01 | 2.40 % | 2.15 % | 2.00 % |
| 2026-05-01 | 2.40 % | 2.15 % | 2.00 % |
| 2026-06-01 | 2.65 % | 2.40 % | 2.25 % |
| 2026-07-01 | 2.65 % | 2.40 % | 2.25 % |
| 2026-08-01 | 2.65 % | 2.40 % | 2.25 % |
Yields on German Government Bonds
Banks price long-term mortgage lending against capital market rates. The ten-year Bund yield rose from 2.54 percent in June 2025 to 3.07 percent in May 2026, the month before the ECB rate step. The average rate on new mortgage lending rose from 3.57 to 3.82 percent over the same period. In the most recent published month the ten-year yield stands at 3.36 %, the fifteen-year yield at 3.64 % and the thirty-year yield at 3.83 %.
German Government Bond Yields
Development of German government bond yields
| Period | Yield 10Y | Yield 15Y | Yield 30Y |
|---|---|---|---|
| 2010-01-01 | 3.29 % | – | 4.05 % |
| 2010-02-01 | 3.20 % | – | 3.93 % |
| 2010-03-01 | 3.13 % | – | 3.90 % |
| 2010-04-01 | 3.10 % | – | 3.81 % |
| 2010-05-01 | 2.81 % | – | 3.56 % |
| 2010-06-01 | 2.63 % | – | 3.36 % |
| 2010-07-01 | 2.65 % | – | 3.33 % |
| 2010-08-01 | 2.39 % | – | 3.03 % |
| 2010-09-01 | 2.32 % | – | 2.93 % |
| 2010-10-01 | 2.37 % | – | 2.93 % |
| 2010-11-01 | 2.55 % | – | 3.05 % |
| 2010-12-01 | 2.95 % | – | 3.41 % |
| 2011-01-01 | 3.04 % | – | 3.49 % |
| 2011-02-01 | 3.22 % | – | 3.65 % |
| 2011-03-01 | 3.24 % | – | 3.67 % |
| 2011-04-01 | 3.37 % | – | 3.84 % |
| 2011-05-01 | 3.12 % | – | 3.62 % |
| 2011-06-01 | 2.97 % | – | 3.59 % |
| 2011-07-01 | 2.79 % | – | 3.48 % |
| 2011-08-01 | 2.27 % | – | 3.08 % |
| 2011-09-01 | 1.87 % | – | 2.72 % |
| 2011-10-01 | 2.04 % | – | 2.79 % |
| 2011-11-01 | 1.94 % | – | 2.68 % |
| 2011-12-01 | 2.02 % | – | 2.55 % |
| 2012-01-01 | 1.87 % | – | 2.48 % |
| 2012-02-01 | 1.90 % | – | 2.51 % |
| 2012-03-01 | 1.88 % | – | 2.52 % |
| 2012-04-01 | 1.74 % | – | 2.41 % |
| 2012-05-01 | 1.47 % | – | 2.12 % |
| 2012-06-01 | 1.43 % | – | 2.07 % |
| 2012-07-01 | 1.32 % | – | 2.18 % |
| 2012-08-01 | 1.42 % | – | 2.23 % |
| 2012-09-01 | 1.54 % | – | 2.36 % |
| 2012-10-01 | 1.52 % | – | 2.36 % |
| 2012-11-01 | 1.39 % | – | 2.26 % |
| 2012-12-01 | 1.36 % | – | 2.25 % |
| 2013-01-01 | 1.56 % | – | 2.38 % |
| 2013-02-01 | 1.60 % | – | 2.39 % |
| 2013-03-01 | 1.42 % | – | 2.29 % |
| 2013-04-01 | 1.26 % | – | 2.17 % |
| 2013-05-01 | 1.36 % | – | 2.26 % |
| 2013-06-01 | 1.61 % | – | 2.43 % |
| 2013-07-01 | 1.63 % | – | 2.43 % |
| 2013-08-01 | 1.80 % | – | 2.58 % |
| 2013-09-01 | 1.93 % | – | 2.71 % |
| 2013-10-01 | 1.81 % | – | 2.68 % |
| 2013-11-01 | 1.72 % | – | 2.66 % |
| 2013-12-01 | 1.83 % | – | 2.69 % |
| 2014-01-01 | 1.80 % | – | 2.66 % |
| 2014-02-01 | 1.66 % | – | 2.52 % |
| 2014-03-01 | 1.59 % | – | 2.49 % |
| 2014-04-01 | 1.54 % | – | 2.44 % |
| 2014-05-01 | 1.41 % | – | 2.31 % |
| 2014-06-01 | 1.35 % | – | 2.30 % |
| 2014-07-01 | 1.20 % | – | 2.13 % |
| 2014-08-01 | 1.02 % | – | 1.91 % |
| 2014-09-01 | 1.00 % | – | 1.93 % |
| 2014-10-01 | 0.87 % | – | 1.78 % |
| 2014-11-01 | 0.80 % | – | 1.71 % |
| 2014-12-01 | 0.66 % | – | 1.52 % |
| 2015-01-01 | 0.45 % | – | 1.17 % |
| 2015-02-01 | 0.35 % | – | 0.97 % |
| 2015-03-01 | 0.26 % | – | 0.76 % |
| 2015-04-01 | 0.15 % | – | 0.60 % |
| 2015-05-01 | 0.59 % | – | 1.20 % |
| 2015-06-01 | 0.82 % | – | 1.53 % |
| 2015-07-01 | 0.77 % | – | 1.51 % |
| 2015-08-01 | 0.65 % | – | 1.34 % |
| 2015-09-01 | 0.68 % | – | 1.41 % |
| 2015-10-01 | 0.55 % | – | 1.30 % |
| 2015-11-01 | 0.55 % | – | 1.38 % |
| 2015-12-01 | 0.58 % | – | 1.39 % |
| 2016-01-01 | 0.51 % | – | 1.30 % |
| 2016-02-01 | 0.23 % | – | 0.93 % |
| 2016-03-01 | 0.20 % | – | 0.94 % |
| 2016-04-01 | 0.17 % | – | 0.85 % |
| 2016-05-01 | 0.17 % | – | 0.88 % |
| 2016-06-01 | 0.02 % | – | 0.61 % |
| 2016-07-01 | -0.08 % | – | 0.43 % |
| 2016-08-01 | -0.08 % | – | 0.42 % |
| 2016-09-01 | -0.05 % | – | 0.52 % |
| 2016-10-01 | 0.04 % | – | 0.66 % |
| 2016-11-01 | 0.23 % | – | 0.86 % |
| 2016-12-01 | 0.30 % | – | 1.02 % |
| 2017-01-01 | 0.35 % | – | 1.09 % |
| 2017-02-01 | 0.33 % | – | 1.11 % |
| 2017-03-01 | 0.39 % | – | 1.15 % |
| 2017-04-01 | 0.26 % | – | 1.02 % |
| 2017-05-01 | 0.38 % | – | 1.19 % |
| 2017-06-01 | 0.29 % | – | 1.11 % |
| 2017-07-01 | 0.53 % | – | 1.30 % |
| 2017-08-01 | 0.42 % | – | 1.17 % |
| 2017-09-01 | 0.40 % | – | 1.21 % |
| 2017-10-01 | 0.43 % | – | 1.28 % |
| 2017-11-01 | 0.36 % | – | 1.23 % |
| 2017-12-01 | 0.34 % | – | 1.17 % |
| 2018-01-01 | 0.55 % | – | 1.30 % |
| 2018-02-01 | 0.72 % | – | 1.36 % |
| 2018-03-01 | 0.59 % | – | 1.23 % |
| 2018-04-01 | 0.55 % | – | 1.20 % |
| 2018-05-01 | 0.52 % | – | 1.22 % |
| 2018-06-01 | 0.40 % | – | 1.12 % |
| 2018-07-01 | 0.36 % | – | 1.03 % |
| 2018-08-01 | 0.36 % | – | 1.02 % |
| 2018-09-01 | 0.44 % | – | 1.09 % |
| 2018-10-01 | 0.46 % | – | 1.09 % |
| 2018-11-01 | 0.38 % | – | 1.03 % |
| 2018-12-01 | 0.25 % | – | 0.88 % |
| 2019-01-01 | 0.22 % | – | 0.83 % |
| 2019-02-01 | 0.13 % | – | 0.74 % |
| 2019-03-01 | 0.06 % | – | 0.70 % |
| 2019-04-01 | 0.01 % | – | 0.66 % |
| 2019-05-01 | -0.08 % | – | 0.56 % |
| 2019-06-01 | -0.27 % | – | 0.33 % |
| 2019-07-01 | -0.34 % | – | 0.25 % |
| 2019-08-01 | -0.62 % | – | -0.11 % |
| 2019-09-01 | -0.58 % | – | -0.04 % |
| 2019-10-01 | -0.45 % | – | 0.07 % |
| 2019-11-01 | -0.33 % | – | 0.19 % |
| 2019-12-01 | -0.28 % | – | 0.24 % |
| 2020-01-01 | -0.27 % | – | 0.25 % |
| 2020-02-01 | -0.44 % | – | 0.07 % |
| 2020-03-01 | -0.53 % | – | -0.14 % |
| 2020-04-01 | -0.44 % | – | -0.03 % |
| 2020-05-01 | -0.51 % | -0.27 % | -0.06 % |
| 2020-06-01 | -0.40 % | -0.19 % | 0.07 % |
| 2020-07-01 | -0.47 % | -0.27 % | -0.04 % |
| 2020-08-01 | -0.48 % | -0.28 % | -0.05 % |
| 2020-09-01 | -0.49 % | -0.29 % | -0.05 % |
| 2020-10-01 | -0.57 % | -0.38 % | -0.16 % |
| 2020-11-01 | -0.58 % | -0.39 % | -0.17 % |
| 2020-12-01 | -0.58 % | -0.40 % | -0.17 % |
| 2021-01-01 | -0.53 % | -0.37 % | -0.13 % |
| 2021-02-01 | -0.40 % | -0.20 % | 0.08 % |
| 2021-03-01 | -0.32 % | -0.04 % | 0.21 % |
| 2021-04-01 | -0.27 % | 0.02 % | 0.28 % |
| 2021-05-01 | -0.16 % | 0.14 % | 0.40 % |
| 2021-06-01 | -0.20 % | 0.08 % | 0.32 % |
| 2021-07-01 | -0.34 % | -0.09 % | 0.15 % |
| 2021-08-01 | -0.46 % | -0.22 % | -0.01 % |
| 2021-09-01 | -0.31 % | -0.05 % | 0.20 % |
| 2021-10-01 | -0.15 % | 0.07 % | 0.28 % |
| 2021-11-01 | -0.25 % | -0.08 % | 0.07 % |
| 2021-12-01 | -0.33 % | -0.15 % | -0.01 % |
| 2022-01-01 | -0.06 % | 0.09 % | 0.25 % |
| 2022-02-01 | 0.19 % | 0.32 % | 0.42 % |
| 2022-03-01 | 0.32 % | 0.45 % | 0.50 % |
| 2022-04-01 | 0.78 % | 0.90 % | 0.91 % |
| 2022-05-01 | 0.99 % | 1.18 % | 1.16 % |
| 2022-06-01 | 1.49 % | 1.70 % | 1.69 % |
| 2022-07-01 | 1.17 % | 1.40 % | 1.42 % |
| 2022-08-01 | 1.09 % | 1.28 % | 1.28 % |
| 2022-09-01 | 1.82 % | 1.95 % | 1.83 % |
| 2022-10-01 | 2.21 % | 2.39 % | 2.25 % |
| 2022-11-01 | 2.08 % | 2.21 % | 2.07 % |
| 2022-12-01 | 2.10 % | 2.16 % | 1.96 % |
| 2023-01-01 | 2.23 % | 2.32 % | 2.17 % |
| 2023-02-01 | 2.40 % | 2.49 % | 2.36 % |
| 2023-03-01 | 2.40 % | 2.51 % | 2.41 % |
| 2023-04-01 | 2.38 % | 2.52 % | 2.45 % |
| 2023-05-01 | 2.36 % | 2.55 % | 2.52 % |
| 2023-06-01 | 2.39 % | 2.55 % | 2.50 % |
| 2023-07-01 | 2.49 % | 2.59 % | 2.51 % |
| 2023-08-01 | 2.57 % | 2.71 % | 2.66 % |
| 2023-09-01 | 2.68 % | 2.84 % | 2.83 % |
| 2023-10-01 | 2.85 % | 3.05 % | 3.07 % |
| 2023-11-01 | 2.63 % | 2.85 % | 2.85 % |
| 2023-12-01 | 2.12 % | 2.32 % | 2.34 % |
| 2024-01-01 | 2.22 % | 2.41 % | 2.43 % |
| 2024-02-01 | 2.36 % | 2.53 % | 2.53 % |
| 2024-03-01 | 2.36 % | 2.51 % | 2.51 % |
| 2024-04-01 | 2.46 % | 2.63 % | 2.60 % |
| 2024-05-01 | 2.53 % | 2.71 % | 2.65 % |
| 2024-06-01 | 2.49 % | 2.69 % | 2.65 % |
| 2024-07-01 | 2.49 % | 2.70 % | 2.67 % |
| 2024-08-01 | 2.23 % | 2.48 % | 2.46 % |
| 2024-09-01 | 2.18 % | 2.46 % | 2.47 % |
| 2024-10-01 | 2.24 % | 2.53 % | 2.54 % |
| 2024-11-01 | 2.32 % | 2.56 % | 2.54 % |
| 2024-12-01 | 2.20 % | 2.44 % | 2.42 % |
| 2025-01-01 | 2.53 % | 2.76 % | 2.75 % |
| 2025-02-01 | 2.44 % | 2.68 % | 2.70 % |
| 2025-03-01 | 2.77 % | 3.05 % | 3.10 % |
| 2025-04-01 | 2.54 % | 2.86 % | 2.95 % |
| 2025-05-01 | 2.58 % | 2.94 % | 3.06 % |
| 2025-06-01 | 2.54 % | 2.87 % | 3.02 % |
| 2025-07-01 | 2.67 % | 3.00 % | 3.17 % |
| 2025-08-01 | 2.70 % | 3.06 % | 3.25 % |
| 2025-09-01 | 2.71 % | 3.09 % | 3.31 % |
| 2025-10-01 | 2.64 % | 3.01 % | 3.22 % |
| 2025-11-01 | 2.68 % | 3.06 % | 3.29 % |
| 2025-12-01 | 2.83 % | 3.22 % | 3.46 % |
| 2026-01-01 | 2.86 % | 3.23 % | 3.48 % |
| 2026-02-01 | 2.80 % | 3.19 % | 3.47 % |
| 2026-03-01 | 2.91 % | 3.26 % | 3.47 % |
| 2026-04-01 | 3.01 % | 3.35 % | 3.54 % |
| 2026-05-01 | 3.07 % | 3.41 % | 3.60 % |
| 2026-06-01 | 2.97 % | 3.31 % | 3.52 % |
| 2026-07-01 | 3.07 % | 3.39 % | 3.60 % |
| 2026-08-01 | 3.19 % | 3.49 % | 3.70 % |
| 2026-09-01 | 3.36 % | 3.64 % | 3.83 % |
Economy and Labour Market
Economic activity, inflation and employment determine purchasing power and the ability to finance a purchase. Demand in Berlin also depends on inward migration, household formation, new construction volumes and regulation. Those series are covered in the Berlin market reports.
Gross Domestic Product
The price-adjusted chain index stood at 105.6 in the second quarter of 2022 and at 106.3 in the second quarter of 2026. In 2023 and 2024 it was below the corresponding prior-year quarter in every quarter, and above it since 2025. In the most recent published quarter GDP changes by 1.5 % against the prior-year quarter and by 0.3 % against the previous quarter. The series is price-adjusted, seasonally adjusted and calendar-adjusted.
Gross Domestic Product
Development of price-adjusted GDP chain index
| Period | GDP chain index |
|---|---|
| 2010-01-01 | 87.2 |
| 2010-04-01 | 89.1 |
| 2010-07-01 | 90 |
| 2010-10-01 | 90.6 |
| 2011-01-01 | 92.2 |
| 2011-04-01 | 92.5 |
| 2011-07-01 | 93 |
| 2011-10-01 | 93 |
| 2012-01-01 | 93.2 |
| 2012-04-01 | 93.3 |
| 2012-07-01 | 93.4 |
| 2012-10-01 | 93.2 |
| 2013-01-01 | 92.6 |
| 2013-04-01 | 93.7 |
| 2013-07-01 | 94.2 |
| 2013-10-01 | 94.3 |
| 2014-01-01 | 95.3 |
| 2014-04-01 | 95.3 |
| 2014-07-01 | 95.8 |
| 2014-10-01 | 96.6 |
| 2015-01-01 | 96.4 |
| 2015-04-01 | 96.9 |
| 2015-07-01 | 97.4 |
| 2015-10-01 | 97.9 |
| 2016-01-01 | 98.7 |
| 2016-04-01 | 99 |
| 2016-07-01 | 99.3 |
| 2016-10-01 | 99.8 |
| 2017-01-01 | 101.1 |
| 2017-04-01 | 101.8 |
| 2017-07-01 | 102.6 |
| 2017-10-01 | 103.6 |
| 2018-01-01 | 103.1 |
| 2018-04-01 | 103.9 |
| 2018-07-01 | 103.2 |
| 2018-10-01 | 103.7 |
| 2019-01-01 | 104.3 |
| 2019-04-01 | 104.4 |
| 2019-07-01 | 104.8 |
| 2019-10-01 | 104.4 |
| 2020-01-01 | 102.3 |
| 2020-04-01 | 93.2 |
| 2020-07-01 | 101.3 |
| 2020-10-01 | 102.3 |
| 2021-01-01 | 101.7 |
| 2021-04-01 | 104.1 |
| 2021-07-01 | 104.2 |
| 2021-10-01 | 104.7 |
| 2022-01-01 | 105.4 |
| 2022-04-01 | 105.6 |
| 2022-07-01 | 105.9 |
| 2022-10-01 | 105.5 |
| 2023-01-01 | 105 |
| 2023-04-01 | 105 |
| 2023-07-01 | 105 |
| 2023-10-01 | 104.7 |
| 2024-01-01 | 104.6 |
| 2024-04-01 | 104.3 |
| 2024-07-01 | 104.3 |
| 2024-10-01 | 104.5 |
| 2025-01-01 | 104.8 |
| 2025-04-01 | 104.7 |
| 2025-07-01 | 104.6 |
| 2025-10-01 | 105.4 |
| 2026-01-01 | 105.9 |
| 2026-04-01 | 106.3 |
Inflation Rate
The Harmonised Index of Consumer Prices is the ECB reference for its two percent target. The headline rate ranged between 2.0 and 2.5 percent in 2025 and has been above that range since March 2026. In the most recent published month it stands at 3.0 % year on year, core inflation excluding energy and food at 2.6 % and the energy component at 9.4 %.
HICP Inflation
Harmonized Index of Consumer Prices - Inflation development
| Period | HICP total Change vs. prev. year | HICP excl. energy Change vs. prev. year | HICP core inflation Change vs. prev. year |
|---|---|---|---|
| 2010-01-01 | 0.5 | 0.5 | 0.7 |
| 2010-02-01 | 0.3 | 0.4 | 0.6 |
| 2010-03-01 | 0.6 | 0.4 | 0.4 |
| 2010-04-01 | 1 | 0.5 | 0.4 |
| 2010-05-01 | 0.8 | 0.4 | 0.3 |
| 2010-06-01 | 0.8 | 0.5 | 0.4 |
| 2010-07-01 | 0.9 | 0.6 | 0.4 |
| 2010-08-01 | 0.8 | 0.6 | 0.5 |
| 2010-09-01 | 1 | 0.6 | 0.4 |
| 2010-10-01 | 0.9 | 0.5 | 0.4 |
| 2010-11-01 | 1 | 0.7 | 0.6 |
| 2010-12-01 | 1.1 | 0.7 | 0.5 |
| 2011-01-01 | 1.4 | 0.8 | 0.7 |
| 2011-02-01 | 1.5 | 0.8 | 0.7 |
| 2011-03-01 | 1.7 | 1 | 0.9 |
| 2011-04-01 | 1.7 | 0.9 | 0.8 |
| 2011-05-01 | 1.8 | 1.1 | 0.9 |
| 2011-06-01 | 1.6 | 1 | 0.9 |
| 2011-07-01 | 1.8 | 1 | 0.9 |
| 2011-08-01 | 1.7 | 1 | 0.9 |
| 2011-09-01 | 1.9 | 1.1 | 1 |
| 2011-10-01 | 1.9 | 1.2 | 0.9 |
| 2011-11-01 | 1.9 | 1.2 | 0.9 |
| 2011-12-01 | 1.6 | 1 | 0.9 |
| 2012-01-01 | 1.6 | 1.2 | 0.9 |
| 2012-02-01 | 1.9 | 1.4 | 1 |
| 2012-03-01 | 1.8 | 1.3 | 1 |
| 2012-04-01 | 1.5 | 1.3 | 1.1 |
| 2012-05-01 | 1.5 | 1.2 | 1.1 |
| 2012-06-01 | 1.5 | 1.2 | 1.1 |
| 2012-07-01 | 1.3 | 1.1 | 1 |
| 2012-08-01 | 1.6 | 1.1 | 0.9 |
| 2012-09-01 | 1.6 | 1.1 | 0.9 |
| 2012-10-01 | 1.5 | 1.1 | 1 |
| 2012-11-01 | 1.4 | 1.2 | 1 |
| 2012-12-01 | 1.5 | 1.3 | 1 |
| 2013-01-01 | 1.5 | 1.2 | 1 |
| 2013-02-01 | 1.3 | 1.1 | 1 |
| 2013-03-01 | 1.1 | 1.2 | 1 |
| 2013-04-01 | 1.2 | 1.1 | 1 |
| 2013-05-01 | 1.2 | 1.2 | 0.8 |
| 2013-06-01 | 1.3 | 1.3 | 0.9 |
| 2013-07-01 | 1.4 | 1.3 | 0.8 |
| 2013-08-01 | 1.2 | 1.2 | 0.9 |
| 2013-09-01 | 1.1 | 1.2 | 0.9 |
| 2013-10-01 | 1 | 1.1 | 0.8 |
| 2013-11-01 | 1 | 1.1 | 1 |
| 2013-12-01 | 1.1 | 1.1 | 0.9 |
| 2014-01-01 | 0.9 | 1.2 | 0.9 |
| 2014-02-01 | 0.8 | 1.1 | 0.9 |
| 2014-03-01 | 0.7 | 0.9 | 0.8 |
| 2014-04-01 | 0.6 | 0.9 | 0.7 |
| 2014-05-01 | 0.5 | 0.8 | 0.8 |
| 2014-06-01 | 0.6 | 0.7 | 0.7 |
| 2014-07-01 | 0.6 | 0.8 | 0.9 |
| 2014-08-01 | 0.6 | 0.9 | 0.9 |
| 2014-09-01 | 0.6 | 0.9 | 0.9 |
| 2014-10-01 | 0.5 | 0.9 | 0.9 |
| 2014-11-01 | 0.4 | 0.7 | 0.7 |
| 2014-12-01 | 0 | 0.7 | 0.8 |
| 2015-01-01 | 0.1 | 1.1 | 1.5 |
| 2015-02-01 | 0.5 | 1.3 | 1.5 |
| 2015-03-01 | 0.6 | 1.3 | 1.5 |
| 2015-04-01 | 0.7 | 1.4 | 1.5 |
| 2015-05-01 | 0.9 | 1.4 | 1.6 |
| 2015-06-01 | 0.7 | 1.4 | 1.5 |
| 2015-07-01 | 0.4 | 1.1 | 1.2 |
| 2015-08-01 | 0.3 | 1.2 | 1.4 |
| 2015-09-01 | 0.2 | 1.3 | 1.4 |
| 2015-10-01 | 0.5 | 1.4 | 1.5 |
| 2015-11-01 | 0.7 | 1.5 | 1.6 |
| 2015-12-01 | 0.6 | 1.4 | 1.5 |
| 2016-01-01 | 0.3 | 0.9 | 0.9 |
| 2016-02-01 | -0.1 | 0.7 | 0.8 |
| 2016-03-01 | -0.1 | 0.8 | 0.8 |
| 2016-04-01 | 0 | 0.8 | 0.9 |
| 2016-05-01 | 0 | 0.8 | 0.7 |
| 2016-06-01 | 0.1 | 0.7 | 0.8 |
| 2016-07-01 | 0.3 | 1 | 1 |
| 2016-08-01 | 0.3 | 0.9 | 0.8 |
| 2016-09-01 | 0.4 | 0.8 | 0.8 |
| 2016-10-01 | 0.5 | 0.8 | 0.8 |
| 2016-11-01 | 0.5 | 0.9 | 0.8 |
| 2016-12-01 | 1.2 | 1.1 | 1 |
| 2017-01-01 | 1.4 | 1 | 0.8 |
| 2017-02-01 | 1.5 | 1.2 | 0.8 |
| 2017-03-01 | 1.4 | 1.2 | 1 |
| 2017-04-01 | 1.3 | 1.1 | 1 |
| 2017-05-01 | 1.2 | 1.2 | 1.2 |
| 2017-06-01 | 1 | 1.2 | 1.1 |
| 2017-07-01 | 1.2 | 1.3 | 1.2 |
| 2017-08-01 | 1.3 | 1.3 | 1.2 |
| 2017-09-01 | 1.4 | 1.3 | 1.2 |
| 2017-10-01 | 1.1 | 1.1 | 0.9 |
| 2017-11-01 | 1.5 | 1.3 | 1.1 |
| 2017-12-01 | 1.1 | 1.2 | 1 |
| 2018-01-01 | 1.1 | 1.3 | 1 |
| 2018-02-01 | 1 | 1.1 | 1.1 |
| 2018-03-01 | 1.1 | 1.2 | 1.1 |
| 2018-04-01 | 1.3 | 1.3 | 1.1 |
| 2018-05-01 | 1.6 | 1.4 | 1.1 |
| 2018-06-01 | 1.8 | 1.4 | 1.1 |
| 2018-07-01 | 1.5 | 1.2 | 0.9 |
| 2018-08-01 | 1.6 | 1.2 | 1 |
| 2018-09-01 | 1.7 | 1.3 | 1 |
| 2018-10-01 | 2 | 1.5 | 1.4 |
| 2018-11-01 | 1.7 | 1.1 | 1 |
| 2018-12-01 | 1.3 | 1 | 0.9 |
| 2019-01-01 | 1.1 | 1 | 1 |
| 2019-02-01 | 1.2 | 1 | 1 |
| 2019-03-01 | 1.2 | 0.9 | 0.9 |
| 2019-04-01 | 1.3 | 1.1 | 1.1 |
| 2019-05-01 | 1.3 | 1 | 1 |
| 2019-06-01 | 1.1 | 1.1 | 1.1 |
| 2019-07-01 | 1.3 | 1.2 | 1.3 |
| 2019-08-01 | 1.1 | 1.2 | 1.1 |
| 2019-09-01 | 0.9 | 1.1 | 1.1 |
| 2019-10-01 | 0.8 | 1.1 | 1.1 |
| 2019-11-01 | 0.7 | 1.3 | 1.2 |
| 2019-12-01 | 1.2 | 1.4 | 1.4 |
| 2020-01-01 | 1.3 | 1.1 | 1 |
| 2020-02-01 | 1.3 | 1.4 | 1.1 |
| 2020-03-01 | 1.1 | 1.3 | 1 |
| 2020-04-01 | 0.6 | 1.3 | 0.9 |
| 2020-05-01 | 0.4 | 1.3 | 1 |
| 2020-06-01 | 0.7 | 1.4 | 1 |
| 2020-07-01 | -0.1 | 0.5 | 0.4 |
| 2020-08-01 | -0.1 | 0.5 | 0.4 |
| 2020-09-01 | -0.3 | 0.3 | 0.3 |
| 2020-10-01 | -0.3 | 0.3 | 0.2 |
| 2020-11-01 | -0.6 | 0 | -0.1 |
| 2020-12-01 | -0.5 | 0 | -0.2 |
| 2021-01-01 | 0.8 | 1.2 | 1 |
| 2021-02-01 | 1 | 1.1 | 1 |
| 2021-03-01 | 1.3 | 1.1 | 1 |
| 2021-04-01 | 1.6 | 1 | 0.9 |
| 2021-05-01 | 1.8 | 1.2 | 1.2 |
| 2021-06-01 | 1.9 | 1.2 | 1.3 |
| 2021-07-01 | 3 | 2.4 | 2.2 |
| 2021-08-01 | 3.2 | 2.4 | 2.3 |
| 2021-09-01 | 3.4 | 2.6 | 2.4 |
| 2021-10-01 | 3.9 | 2.7 | 2.5 |
| 2021-11-01 | 4.5 | 3.1 | 3.1 |
| 2021-12-01 | 4.5 | 3.3 | 3.3 |
| 2022-01-01 | 4.2 | 2.6 | 2.6 |
| 2022-02-01 | 4.5 | 2.8 | 2.6 |
| 2022-03-01 | 6.2 | 3.1 | 2.9 |
| 2022-04-01 | 6.5 | 3.7 | 3.3 |
| 2022-05-01 | 7.2 | 4.2 | 3.4 |
| 2022-06-01 | 6.8 | 3.8 | 2.7 |
| 2022-07-01 | 7 | 4.1 | 2.7 |
| 2022-08-01 | 7.3 | 4.4 | 2.9 |
| 2022-09-01 | 9.2 | 5.6 | 4.1 |
| 2022-10-01 | 9.7 | 6.1 | 4.5 |
| 2022-11-01 | 9.5 | 6.2 | 4.4 |
| 2022-12-01 | 8.1 | 6.4 | 4.6 |
| 2023-01-01 | 8.4 | 6.8 | 5 |
| 2023-02-01 | 8.4 | 7.1 | 5.2 |
| 2023-03-01 | 7 | 7.4 | 5.4 |
| 2023-04-01 | 6.7 | 6.7 | 5.1 |
| 2023-05-01 | 5.6 | 5.9 | 4.5 |
| 2023-06-01 | 5.9 | 6.3 | 5.3 |
| 2023-07-01 | 5.4 | 5.8 | 5.1 |
| 2023-08-01 | 5.4 | 5.7 | 5.1 |
| 2023-09-01 | 3.7 | 4.7 | 4.1 |
| 2023-10-01 | 2.5 | 4.1 | 3.6 |
| 2023-11-01 | 2.4 | 4 | 3.6 |
| 2023-12-01 | 3.5 | 3.6 | 3.2 |
| 2024-01-01 | 2.7 | 3.4 | 3.1 |
| 2024-02-01 | 2.5 | 3 | 3.1 |
| 2024-03-01 | 2.2 | 2.7 | 3 |
| 2024-04-01 | 2.3 | 2.6 | 2.8 |
| 2024-05-01 | 2.6 | 3 | 3.3 |
| 2024-06-01 | 2.5 | 3 | 3.1 |
| 2024-07-01 | 2.6 | 3 | 3.1 |
| 2024-08-01 | 2.1 | 2.9 | 3 |
| 2024-09-01 | 1.8 | 2.9 | 2.9 |
| 2024-10-01 | 2.3 | 3.1 | 3.1 |
| 2024-11-01 | 2.3 | 2.9 | 2.9 |
| 2024-12-01 | 2.7 | 3.1 | 3.2 |
| 2025-01-01 | 2.5 | 2.8 | 3 |
| 2025-02-01 | 2.3 | 2.7 | 2.7 |
| 2025-03-01 | 2.2 | 2.7 | 2.6 |
| 2025-04-01 | 2.1 | 3 | 2.9 |
| 2025-05-01 | 2 | 2.8 | 2.6 |
| 2025-06-01 | 2 | 2.6 | 2.6 |
| 2025-07-01 | 2 | 2.7 | 2.6 |
| 2025-08-01 | 2.2 | 2.7 | 2.6 |
| 2025-09-01 | 2.5 | 2.7 | 2.7 |
| 2025-10-01 | 2.3 | 2.7 | 2.8 |
| 2025-11-01 | 2.4 | 2.7 | 2.8 |
| 2025-12-01 | 2 | 2.3 | 2.4 |
| 2026-01-01 | 2 | 2.5 | 2.4 |
| 2026-02-01 | 2 | 2.4 | 2.5 |
| 2026-03-01 | 2.8 | 2.4 | 2.5 |
| 2026-04-01 | 3 | 2.3 | 2.4 |
| 2026-05-01 | 2.8 | 2.4 | 2.7 |
| 2026-06-01 | 2.4 | 2.4 | 2.6 |
| 2026-07-01 | 2.9 | 2.4 | 2.7 |
| 2026-08-01 | 3 | 2.3 | 2.6 |
Labour Market
The German unemployment rate stood at 5.9 percent in January 2024 and has risen in steps since. The number of persons in employment peaked at 46.0 million in February 2025 and has fallen in every month since. In the most recent published month the unemployment rate is 6.4 %, covering 2,996,000 registered unemployed. Short-time work figures are published with a two-month lag and most recently stand at 144,433.
Employment
Development of employed persons and social security contributors
| Period | Employed | Employees subj. to soc. ins. |
|---|---|---|
| 2010-01-01 | 40,881,000 persons | 27,757,000 persons |
| 2010-02-01 | 40,888,000 persons | 27,762,000 persons |
| 2010-03-01 | 40,948,000 persons | 27,840,000 persons |
| 2010-04-01 | 41,014,000 persons | 27,914,000 persons |
| 2010-05-01 | 41,058,000 persons | 27,977,000 persons |
| 2010-06-01 | 41,106,000 persons | 28,028,000 persons |
| 2010-07-01 | 41,122,000 persons | 28,064,000 persons |
| 2010-09-01 | 41,217,000 persons | 28,162,000 persons |
| 2010-10-01 | 41,228,000 persons | 28,194,000 persons |
| 2010-11-01 | 41,271,000 persons | 28,251,000 persons |
| 2010-12-01 | 41,306,000 persons | 28,299,000 persons |
| 2011-02-01 | 41,382,000 persons | 28,432,000 persons |
| 2011-04-01 | 41,467,000 persons | 28,560,000 persons |
| 2011-05-01 | 41,512,000 persons | 28,646,000 persons |
| 2011-07-01 | 41,573,000 persons | 28,739,000 persons |
| 2011-08-01 | 41,645,000 persons | 28,818,000 persons |
| 2011-09-01 | 41,684,000 persons | 28,873,000 persons |
| 2011-11-01 | 41,760,000 persons | 29,002,000 persons |
| 2011-12-01 | 41,815,000 persons | 29,064,000 persons |
| 2012-01-01 | 41,896,000 persons | 29,159,000 persons |
| 2012-03-01 | 41,940,000 persons | 29,251,000 persons |
| 2012-04-01 | 41,973,000 persons | 29,283,000 persons |
| 2012-05-01 | 42,025,000 persons | 29,320,000 persons |
| 2012-07-01 | 42,085,000 persons | 29,393,000 persons |
| 2012-08-01 | 42,132,000 persons | 29,414,000 persons |
| 2012-09-01 | 42,131,000 persons | 29,412,000 persons |
| 2012-10-01 | 42,174,000 persons | 29,497,000 persons |
| 2012-11-01 | 42,238,000 persons | 29,540,000 persons |
| 2012-12-01 | 42,263,000 persons | 29,558,000 persons |
| 2013-01-01 | 42,259,000 persons | 29,575,000 persons |
| 2013-03-01 | 42,280,000 persons | 29,579,000 persons |
| 2013-04-01 | 42,278,000 persons | 29,637,000 persons |
| 2013-05-01 | 42,325,000 persons | 29,667,000 persons |
| 2013-07-01 | 42,397,000 persons | 29,735,000 persons |
| 2013-08-01 | 42,407,000 persons | 29,788,000 persons |
| 2013-09-01 | 42,441,000 persons | 29,828,000 persons |
| 2013-10-01 | 42,492,000 persons | 29,861,000 persons |
| 2013-12-01 | 42,527,000 persons | 29,921,000 persons |
| 2014-01-01 | 42,616,000 persons | 29,974,000 persons |
| 2014-02-01 | 42,650,000 persons | 30,025,000 persons |
| 2014-05-01 | 42,735,000 persons | 30,158,000 persons |
| 2014-07-01 | 42,801,000 persons | 30,264,000 persons |
| 2014-08-01 | 42,786,000 persons | 30,263,000 persons |
| 2014-09-01 | 42,816,000 persons | 30,331,000 persons |
| 2014-10-01 | 42,858,000 persons | 30,364,000 persons |
| 2014-11-01 | 42,828,000 persons | 30,379,000 persons |
| 2015-01-01 | 42,876,000 persons | 30,508,000 persons |
| 2015-02-01 | 42,905,000 persons | 30,571,000 persons |
| 2015-03-01 | 42,980,000 persons | 30,659,000 persons |
| 2015-04-01 | 43,036,000 persons | 30,715,000 persons |
| 2015-06-01 | 43,120,000 persons | 30,831,000 persons |
| 2015-07-01 | 43,177,000 persons | 30,896,000 persons |
| 2015-10-01 | 43,296,000 persons | 31,063,000 persons |
| 2015-11-01 | 43,351,000 persons | 31,130,000 persons |
| 2015-12-01 | 43,394,000 persons | 31,181,000 persons |
| 2016-01-01 | 43,391,000 persons | 31,207,000 persons |
| 2016-02-01 | 43,457,000 persons | 31,286,000 persons |
| 2016-04-01 | 43,557,000 persons | 31,384,000 persons |
| 2016-05-01 | 43,614,000 persons | 31,450,000 persons |
| 2016-06-01 | 43,674,000 persons | 31,509,000 persons |
| 2016-07-01 | 43,679,000 persons | 31,540,000 persons |
| 2016-08-01 | 43,759,000 persons | 31,635,000 persons |
| 2016-09-01 | 43,829,000 persons | 31,691,000 persons |
| 2016-10-01 | 43,868,000 persons | 31,745,000 persons |
| 2016-11-01 | 43,924,000 persons | 31,807,000 persons |
| 2016-12-01 | 43,981,000 persons | 31,871,000 persons |
| 2017-01-01 | 43,997,000 persons | 31,918,000 persons |
| 2017-02-01 | 44,045,000 persons | 31,979,000 persons |
| 2017-03-01 | 44,119,000 persons | 32,053,000 persons |
| 2017-04-01 | 44,162,000 persons | 32,084,000 persons |
| 2017-05-01 | 44,210,000 persons | 32,174,000 persons |
| 2017-06-01 | 44,284,000 persons | 32,239,000 persons |
| 2017-07-01 | 44,336,000 persons | 32,303,000 persons |
| 2017-08-01 | 44,379,000 persons | 32,361,000 persons |
| 2017-09-01 | 44,423,000 persons | 32,425,000 persons |
| 2017-10-01 | 44,451,000 persons | 32,481,000 persons |
| 2017-11-01 | 44,515,000 persons | 32,562,000 persons |
| 2017-12-01 | 44,573,000 persons | 32,619,000 persons |
| 2018-01-01 | 44,659,000 persons | 32,701,000 persons |
| 2018-02-01 | 44,686,000 persons | 32,746,000 persons |
| 2018-03-01 | 44,730,000 persons | 32,780,000 persons |
| 2018-04-01 | 44,784,000 persons | 32,855,000 persons |
| 2018-05-01 | 44,847,000 persons | 32,903,000 persons |
| 2018-06-01 | 44,871,000 persons | 32,953,000 persons |
| 2018-07-01 | 44,913,000 persons | 33,031,000 persons |
| 2018-08-01 | 44,963,000 persons | 33,103,000 persons |
| 2018-09-01 | 44,962,000 persons | 33,125,000 persons |
| 2018-11-01 | 45,056,000 persons | 33,241,000 persons |
| 2018-12-01 | 45,087,000 persons | 33,283,000 persons |
| 2019-01-01 | 45,131,000 persons | 33,336,000 persons |
| 2019-03-01 | 45,213,000 persons | 33,402,000 persons |
| 2019-04-01 | 45,270,000 persons | 33,458,000 persons |
| 2019-05-01 | 45,288,000 persons | 33,483,000 persons |
| 2019-07-01 | 45,317,000 persons | 33,558,000 persons |
| 2019-08-01 | 45,313,000 persons | 33,592,000 persons |
| 2019-09-01 | 45,335,000 persons | 33,650,000 persons |
| 2019-10-01 | 45,368,000 persons | 33,679,000 persons |
| 2019-12-01 | 45,418,000 persons | 33,726,000 persons |
| 2020-01-01 | 45,455,000 persons | 33,775,000 persons |
| 2020-02-01 | 45,466,000 persons | 33,796,000 persons |
| 2020-03-01 | 45,344,000 persons | 33,757,000 persons |
| 2020-04-01 | 44,985,000 persons | 33,506,000 persons |
| 2020-05-01 | 44,749,000 persons | 33,382,000 persons |
| 2020-06-01 | 44,716,000 persons | 33,411,000 persons |
| 2020-07-01 | 44,740,000 persons | 33,436,000 persons |
| 2020-08-01 | 44,774,000 persons | 33,475,000 persons |
| 2020-09-01 | 44,832,000 persons | 33,514,000 persons |
| 2020-10-01 | 44,871,000 persons | 33,586,000 persons |
| 2020-11-01 | 44,835,000 persons | 33,634,000 persons |
| 2020-12-01 | 44,846,000 persons | 33,677,000 persons |
| 2021-01-01 | 44,810,000 persons | 33,671,000 persons |
| 2021-02-01 | 44,795,000 persons | 33,679,000 persons |
| 2021-03-01 | 44,847,000 persons | 33,736,000 persons |
| 2021-04-01 | 44,869,000 persons | 33,766,000 persons |
| 2021-05-01 | 44,889,000 persons | 33,802,000 persons |
| 2021-07-01 | 45,083,000 persons | 33,944,000 persons |
| 2021-08-01 | 45,146,000 persons | 33,998,000 persons |
| 2021-10-01 | 45,224,000 persons | 34,096,000 persons |
| 2021-11-01 | 45,290,000 persons | 34,185,000 persons |
| 2022-01-01 | 45,429,000 persons | 34,328,000 persons |
| 2022-02-01 | 45,471,000 persons | 34,392,000 persons |
| 2022-03-01 | 45,526,000 persons | 34,427,000 persons |
| 2022-04-01 | 45,557,000 persons | 34,445,000 persons |
| 2022-05-01 | 45,598,000 persons | 34,502,000 persons |
| 2022-07-01 | 45,617,000 persons | 34,540,000 persons |
| 2022-08-01 | 45,676,000 persons | 34,584,000 persons |
| 2022-10-01 | 45,759,000 persons | 34,624,000 persons |
| 2022-11-01 | 45,774,000 persons | 34,636,000 persons |
| 2022-12-01 | 45,799,000 persons | 34,670,000 persons |
| 2023-02-01 | 45,884,000 persons | 34,741,000 persons |
| 2023-03-01 | 45,916,000 persons | 34,768,000 persons |
| 2023-04-01 | 45,925,000 persons | 34,760,000 persons |
| 2023-05-01 | 45,939,000 persons | 34,784,000 persons |
| 2023-06-01 | 45,955,000 persons | 34,795,000 persons |
| 2023-08-01 | 45,950,000 persons | 34,825,000 persons |
| 2023-09-01 | 45,948,000 persons | 34,821,000 persons |
| 2023-10-01 | 45,951,000 persons | 34,850,000 persons |
| 2023-12-01 | 45,987,000 persons | 34,878,000 persons |
| 2024-01-01 | 45,969,000 persons | 34,902,000 persons |
| 2024-02-01 | 45,974,000 persons | 34,904,000 persons |
| 2024-03-01 | 45,984,000 persons | 34,896,000 persons |
| 2024-05-01 | 46,008,000 persons | 34,942,000 persons |
| 2024-06-01 | 45,987,000 persons | 34,924,000 persons |
| 2024-07-01 | 45,989,000 persons | 34,946,000 persons |
| 2024-09-01 | 45,975,000 persons | 34,955,000 persons |
| 2024-10-01 | 45,989,000 persons | 34,970,000 persons |
| 2024-11-01 | 45,999,000 persons | 34,969,000 persons |
| 2024-12-01 | 46,009,000 persons | 34,981,000 persons |
| 2025-01-01 | 46,005,000 persons | 34,969,000 persons |
| 2025-02-01 | 46,016,000 persons | 34,974,000 persons |
| 2025-05-01 | 45,996,000 persons | 34,957,000 persons |
| 2025-06-01 | 45,985,000 persons | 34,978,000 persons |
| 2025-07-01 | 45,979,000 persons | 34,982,000 persons |
| 2025-09-01 | 45,941,000 persons | 34,970,000 persons |
| 2025-10-01 | 45,948,000 persons | 34,959,000 persons |
| 2025-11-01 | 45,937,000 persons | 34,937,000 persons |
| 2025-12-01 | 45,929,000 persons | 34,932,000 persons |
| 2026-01-01 | 45,878,000 persons | 34,901,000 persons |
| 2026-02-01 | 45,864,000 persons | 34,895,000 persons |
| 2026-03-01 | 45,839,000 persons | 34,910,000 persons |
| 2026-04-01 | 45,722,000 persons | 34,907,000 persons |
| 2026-05-01 | 45,695,000 persons | 34,900,000 persons |
| 2026-06-01 | 45,672,000 persons | 34,902,000 persons |
| 2026-07-01 | 45,658,000 persons | – |
Unemployment Rate
Development of unemployment rate in Germany
| Period | Unemployment rate |
|---|---|
| 2010-01-01 | 8.0 % |
| 2010-02-01 | 8.0 % |
| 2010-03-01 | 8.0 % |
| 2010-04-01 | 7.8 % |
| 2010-05-01 | 7.7 % |
| 2010-06-01 | 7.7 % |
| 2010-07-01 | 7.6 % |
| 2010-09-01 | 7.5 % |
| 2010-10-01 | 7.4 % |
| 2010-11-01 | 7.4 % |
| 2010-12-01 | 7.4 % |
| 2011-02-01 | 7.3 % |
| 2011-04-01 | 7.1 % |
| 2011-05-01 | 7.1 % |
| 2011-07-01 | 7.0 % |
| 2011-08-01 | 7.0 % |
| 2011-09-01 | 6.9 % |
| 2011-11-01 | 6.8 % |
| 2011-12-01 | 6.8 % |
| 2012-01-01 | 6.8 % |
| 2012-03-01 | 6.8 % |
| 2012-04-01 | 6.9 % |
| 2012-05-01 | 6.8 % |
| 2012-07-01 | 6.8 % |
| 2012-08-01 | 6.8 % |
| 2012-09-01 | 6.8 % |
| 2012-10-01 | 6.8 % |
| 2012-11-01 | 6.8 % |
| 2012-12-01 | 6.9 % |
| 2013-01-01 | 6.9 % |
| 2013-03-01 | 6.9 % |
| 2013-04-01 | 7.0 % |
| 2013-05-01 | 6.9 % |
| 2013-07-01 | 6.8 % |
| 2013-08-01 | 6.8 % |
| 2013-09-01 | 6.8 % |
| 2013-10-01 | 6.8 % |
| 2013-12-01 | 6.8 % |
| 2014-01-01 | 6.8 % |
| 2014-02-01 | 6.8 % |
| 2014-05-01 | 6.7 % |
| 2014-07-01 | 6.7 % |
| 2014-08-01 | 6.7 % |
| 2014-09-01 | 6.7 % |
| 2014-10-01 | 6.6 % |
| 2014-11-01 | 6.6 % |
| 2015-01-01 | 6.5 % |
| 2015-02-01 | 6.5 % |
| 2015-03-01 | 6.5 % |
| 2015-04-01 | 6.5 % |
| 2015-06-01 | 6.4 % |
| 2015-07-01 | 6.4 % |
| 2015-10-01 | 6.3 % |
| 2015-11-01 | 6.3 % |
| 2015-12-01 | 6.3 % |
| 2016-01-01 | 6.2 % |
| 2016-02-01 | 6.2 % |
| 2016-04-01 | 6.2 % |
| 2016-05-01 | 6.1 % |
| 2016-06-01 | 6.1 % |
| 2016-07-01 | 6.1 % |
| 2016-08-01 | 6.0 % |
| 2016-09-01 | 6.0 % |
| 2016-10-01 | 6.0 % |
| 2016-11-01 | 6.0 % |
| 2016-12-01 | 6.0 % |
| 2017-01-01 | 5.9 % |
| 2017-02-01 | 5.9 % |
| 2017-03-01 | 5.8 % |
| 2017-04-01 | 5.8 % |
| 2017-05-01 | 5.7 % |
| 2017-06-01 | 5.7 % |
| 2017-07-01 | 5.7 % |
| 2017-08-01 | 5.6 % |
| 2017-09-01 | 5.6 % |
| 2017-10-01 | 5.6 % |
| 2017-11-01 | 5.5 % |
| 2017-12-01 | 5.5 % |
| 2018-01-01 | 5.4 % |
| 2018-02-01 | 5.4 % |
| 2018-03-01 | 5.3 % |
| 2018-04-01 | 5.3 % |
| 2018-05-01 | 5.2 % |
| 2018-06-01 | 5.2 % |
| 2018-07-01 | 5.2 % |
| 2018-08-01 | 5.1 % |
| 2018-09-01 | 5.1 % |
| 2018-11-01 | 5.0 % |
| 2018-12-01 | 5.0 % |
| 2019-01-01 | 5.0 % |
| 2019-03-01 | 5.0 % |
| 2019-04-01 | 4.9 % |
| 2019-05-01 | 5.0 % |
| 2019-07-01 | 5.0 % |
| 2019-08-01 | 5.0 % |
| 2019-09-01 | 5.0 % |
| 2019-10-01 | 5.0 % |
| 2019-12-01 | 5.0 % |
| 2020-01-01 | 5.0 % |
| 2020-02-01 | 5.0 % |
| 2020-03-01 | 5.0 % |
| 2020-04-01 | 5.8 % |
| 2020-05-01 | 6.2 % |
| 2020-06-01 | 6.4 % |
| 2020-07-01 | 6.4 % |
| 2020-08-01 | 6.3 % |
| 2020-09-01 | 6.3 % |
| 2020-10-01 | 6.2 % |
| 2020-11-01 | 6.1 % |
| 2020-12-01 | 6.1 % |
| 2021-01-01 | 6.0 % |
| 2021-02-01 | 6.1 % |
| 2021-03-01 | 6.0 % |
| 2021-04-01 | 6.0 % |
| 2021-05-01 | 6.0 % |
| 2021-07-01 | 5.6 % |
| 2021-08-01 | 5.5 % |
| 2021-10-01 | 5.3 % |
| 2021-11-01 | 5.2 % |
| 2022-01-01 | 5.1 % |
| 2022-02-01 | 5.1 % |
| 2022-03-01 | 5.0 % |
| 2022-04-01 | 5.0 % |
| 2022-05-01 | 5.0 % |
| 2022-07-01 | 5.4 % |
| 2022-08-01 | 5.5 % |
| 2022-10-01 | 5.5 % |
| 2022-11-01 | 5.5 % |
| 2022-12-01 | 5.5 % |
| 2023-02-01 | 5.5 % |
| 2023-03-01 | 5.6 % |
| 2023-04-01 | 5.6 % |
| 2023-05-01 | 5.6 % |
| 2023-06-01 | 5.6 % |
| 2023-08-01 | 5.7 % |
| 2023-09-01 | 5.7 % |
| 2023-10-01 | 5.8 % |
| 2023-12-01 | 5.9 % |
| 2024-01-01 | 5.9 % |
| 2024-02-01 | 5.9 % |
| 2024-03-01 | 5.9 % |
| 2024-05-01 | 5.9 % |
| 2024-06-01 | 5.9 % |
| 2024-07-01 | 6.0 % |
| 2024-09-01 | 6.0 % |
| 2024-10-01 | 6.1 % |
| 2024-11-01 | 6.1 % |
| 2024-12-01 | 6.2 % |
| 2025-01-01 | 6.2 % |
| 2025-02-01 | 6.2 % |
| 2025-05-01 | 6.3 % |
| 2025-06-01 | 6.3 % |
| 2025-07-01 | 6.3 % |
| 2025-09-01 | 6.3 % |
| 2025-10-01 | 6.3 % |
| 2025-11-01 | 6.3 % |
| 2025-12-01 | 6.3 % |
| 2026-01-01 | 6.3 % |
| 2026-02-01 | 6.3 % |
| 2026-03-01 | 6.3 % |
| 2026-04-01 | 6.4 % |
| 2026-05-01 | 6.3 % |
| 2026-06-01 | 6.3 % |
| 2026-07-01 | 6.4 % |
| 2026-08-01 | 6.4 % |
Financing and Construction Costs
Mortgage Lending
Monthly new mortgage lending by German banks peaked in March 2022 at 14.6 billion euros. In 2023 it ranged between 5.1 and 6.7 billion euros. Since January 2025 it has ranged between 7.7 and 10.8 billion euros, with month-to-month swings of up to two billion euros.
In the most recent published month new business volume is €9,463,000,000 at an average interest rate of 3.78 %. Loans with a fixation of one to five years are priced at 3.80 %, loans with a fixation of more than ten years at 3.72 %. Short fixation periods therefore cost more than long ones. In January 2021 the relationship ran the other way.
Mortgage Volumes
Development of mortgage volumes by maturity
| Period | Volume var./up to 1Y | Volume 1-5Y | Volume 5-10Y | Volume >10Y |
|---|---|---|---|---|
| 2010-06-01 | €736,000,000 | €985,000,000 | €2,254,000,000 | €2,509,000,000 |
| 2010-07-01 | €1,075,000,000 | €1,387,000,000 | €3,263,000,000 | €2,740,000,000 |
| 2010-08-01 | €890,000,000 | €1,207,000,000 | €2,987,000,000 | €2,689,000,000 |
| 2010-09-01 | €841,000,000 | €1,215,000,000 | €3,287,000,000 | €3,040,000,000 |
| 2010-10-01 | €1,256,000,000 | €1,322,000,000 | €3,415,000,000 | €3,033,000,000 |
| 2010-11-01 | €923,000,000 | €1,219,000,000 | €3,307,000,000 | €2,959,000,000 |
| 2010-12-01 | €1,149,000,000 | €1,373,000,000 | €3,599,000,000 | €2,784,000,000 |
| 2011-01-01 | €1,553,000,000 | €1,433,000,000 | €3,403,000,000 | €2,226,000,000 |
| 2011-02-01 | €971,000,000 | €1,298,000,000 | €3,069,000,000 | €2,268,000,000 |
| 2011-03-01 | €1,158,000,000 | €1,380,000,000 | €3,431,000,000 | €2,675,000,000 |
| 2011-04-01 | €1,405,000,000 | €1,286,000,000 | €3,323,000,000 | €2,644,000,000 |
| 2011-05-01 | €1,166,000,000 | €1,271,000,000 | €3,437,000,000 | €2,505,000,000 |
| 2011-06-01 | €1,045,000,000 | €1,005,000,000 | €2,769,000,000 | €2,197,000,000 |
| 2011-07-01 | €1,670,000,000 | €1,232,000,000 | €3,162,000,000 | €2,355,000,000 |
| 2011-08-01 | €1,086,000,000 | €1,178,000,000 | €3,080,000,000 | €2,573,000,000 |
| 2011-09-01 | €977,000,000 | €1,102,000,000 | €2,881,000,000 | €2,476,000,000 |
| 2011-10-01 | €1,250,000,000 | €1,147,000,000 | €3,247,000,000 | €2,431,000,000 |
| 2011-11-01 | €961,000,000 | €1,150,000,000 | €3,236,000,000 | €2,768,000,000 |
| 2011-12-01 | €1,073,000,000 | €1,245,000,000 | €3,282,000,000 | €2,625,000,000 |
| 2012-01-01 | €1,266,000,000 | €1,225,000,000 | €3,150,000,000 | €2,031,000,000 |
| 2012-02-01 | €1,092,000,000 | €984,000,000 | €2,489,000,000 | €2,105,000,000 |
| 2012-03-01 | €876,000,000 | €1,187,000,000 | €2,882,000,000 | €2,502,000,000 |
| 2012-04-01 | €1,066,000,000 | €1,130,000,000 | €2,899,000,000 | €2,376,000,000 |
| 2012-05-01 | €994,000,000 | €1,011,000,000 | €2,963,000,000 | €2,157,000,000 |
| 2012-06-01 | €913,000,000 | €976,000,000 | €2,876,000,000 | €2,509,000,000 |
| 2012-07-01 | €1,196,000,000 | €1,170,000,000 | €3,526,000,000 | €2,717,000,000 |
| 2012-08-01 | €1,020,000,000 | €1,040,000,000 | €3,252,000,000 | €2,891,000,000 |
| 2012-09-01 | €877,000,000 | €905,000,000 | €2,676,000,000 | €2,473,000,000 |
| 2012-10-01 | €1,097,000,000 | €1,097,000,000 | €3,271,000,000 | €2,685,000,000 |
| 2012-11-01 | €870,000,000 | €1,028,000,000 | €2,942,000,000 | €2,605,000,000 |
| 2012-12-01 | €1,052,000,000 | €858,000,000 | €2,653,000,000 | €2,088,000,000 |
| 2013-01-01 | €1,297,000,000 | €1,128,000,000 | €3,224,000,000 | €2,151,000,000 |
| 2013-02-01 | €875,000,000 | €895,000,000 | €2,764,000,000 | €2,052,000,000 |
| 2013-03-01 | €986,000,000 | €949,000,000 | €2,846,000,000 | €2,376,000,000 |
| 2013-04-01 | €1,230,000,000 | €1,130,000,000 | €3,423,000,000 | €2,607,000,000 |
| 2013-05-01 | €953,000,000 | €958,000,000 | €2,980,000,000 | €2,328,000,000 |
| 2013-06-01 | €1,019,000,000 | €995,000,000 | €3,129,000,000 | €2,749,000,000 |
| 2013-07-01 | €1,304,000,000 | €1,291,000,000 | €4,165,000,000 | €3,213,000,000 |
| 2013-08-01 | €1,022,000,000 | €998,000,000 | €3,164,000,000 | €2,580,000,000 |
| 2013-09-01 | €941,000,000 | €978,000,000 | €2,972,000,000 | €2,249,000,000 |
| 2013-10-01 | €1,239,000,000 | €1,184,000,000 | €3,276,000,000 | €2,360,000,000 |
| 2013-11-01 | €814,000,000 | €934,000,000 | €2,578,000,000 | €2,228,000,000 |
| 2013-12-01 | €984,000,000 | €1,008,000,000 | €2,747,000,000 | €2,022,000,000 |
| 2014-01-01 | €1,163,000,000 | €1,230,000,000 | €3,150,000,000 | €2,205,000,000 |
| 2014-02-01 | €1,210,000,000 | €986,000,000 | €2,561,000,000 | €2,226,000,000 |
| 2014-03-01 | €1,001,000,000 | €1,075,000,000 | €3,000,000,000 | €2,520,000,000 |
| 2014-04-01 | €1,201,000,000 | €1,295,000,000 | €3,376,000,000 | €2,814,000,000 |
| 2014-05-01 | €948,000,000 | €1,054,000,000 | €2,942,000,000 | €2,444,000,000 |
| 2014-06-01 | €969,000,000 | €962,000,000 | €2,830,000,000 | €2,249,000,000 |
| 2014-07-01 | €1,205,000,000 | €1,289,000,000 | €3,568,000,000 | €2,750,000,000 |
| 2014-08-01 | €887,000,000 | €946,000,000 | €2,895,000,000 | €2,521,000,000 |
| 2014-09-01 | €843,000,000 | €957,000,000 | €2,960,000,000 | €2,614,000,000 |
| 2014-10-01 | €1,027,000,000 | €1,060,000,000 | €3,264,000,000 | €2,796,000,000 |
| 2014-11-01 | €916,000,000 | €1,157,000,000 | €2,858,000,000 | €2,612,000,000 |
| 2014-12-01 | €1,060,000,000 | €1,024,000,000 | €3,345,000,000 | €3,005,000,000 |
| 2015-01-01 | €1,063,000,000 | €1,061,000,000 | €3,426,000,000 | €4,696,000,000 |
| 2015-02-01 | €895,000,000 | €945,000,000 | €3,166,000,000 | €3,019,000,000 |
| 2015-03-01 | €1,130,000,000 | €1,050,000,000 | €3,663,000,000 | €3,892,000,000 |
| 2015-04-01 | €1,083,000,000 | €1,021,000,000 | €3,549,000,000 | €4,133,000,000 |
| 2015-05-01 | €879,000,000 | €849,000,000 | €3,669,000,000 | €3,877,000,000 |
| 2015-06-01 | €1,096,000,000 | €1,090,000,000 | €4,502,000,000 | €4,432,000,000 |
| 2015-07-01 | €1,134,000,000 | €1,314,000,000 | €4,906,000,000 | €4,622,000,000 |
| 2015-08-01 | €794,000,000 | €1,016,000,000 | €3,653,000,000 | €3,740,000,000 |
| 2015-09-01 | €912,000,000 | €878,000,000 | €3,334,000,000 | €3,310,000,000 |
| 2015-10-01 | €995,000,000 | €1,063,000,000 | €3,583,000,000 | €3,682,000,000 |
| 2015-11-01 | €812,000,000 | €888,000,000 | €3,378,000,000 | €3,167,000,000 |
| 2015-12-01 | €969,000,000 | €915,000,000 | €3,272,000,000 | €3,138,000,000 |
| 2016-01-01 | €916,000,000 | €1,003,000,000 | €3,276,000,000 | €3,154,000,000 |
| 2016-02-01 | €987,000,000 | €875,000,000 | €3,048,000,000 | €2,965,000,000 |
| 2016-03-01 | €1,002,000,000 | €1,075,000,000 | €3,807,000,000 | €3,902,000,000 |
| 2016-04-01 | €848,000,000 | €843,000,000 | €2,827,000,000 | €3,462,000,000 |
| 2016-05-01 | €783,000,000 | €752,000,000 | €2,804,000,000 | €3,004,000,000 |
| 2016-06-01 | €956,000,000 | €849,000,000 | €3,475,000,000 | €3,831,000,000 |
| 2016-07-01 | €927,000,000 | €833,000,000 | €3,387,000,000 | €3,528,000,000 |
| 2016-08-01 | €770,000,000 | €770,000,000 | €3,410,000,000 | €3,526,000,000 |
| 2016-09-01 | €728,000,000 | €708,000,000 | €3,109,000,000 | €3,385,000,000 |
| 2016-10-01 | €764,000,000 | €768,000,000 | €3,023,000,000 | €3,299,000,000 |
| 2016-11-01 | €1,225,000,000 | €763,000,000 | €3,407,000,000 | €3,720,000,000 |
| 2016-12-01 | €863,000,000 | €878,000,000 | €3,968,000,000 | €3,996,000,000 |
| 2017-01-01 | €835,000,000 | €925,000,000 | €3,632,000,000 | €3,540,000,000 |
| 2017-02-01 | €643,000,000 | €796,000,000 | €3,181,000,000 | €3,344,000,000 |
| 2017-03-01 | €855,000,000 | €939,000,000 | €3,565,000,000 | €4,546,000,000 |
| 2017-04-01 | €795,000,000 | €838,000,000 | €3,204,000,000 | €3,576,000,000 |
| 2017-05-01 | €843,000,000 | €900,000,000 | €3,370,000,000 | €3,997,000,000 |
| 2017-06-01 | €865,000,000 | €726,000,000 | €3,030,000,000 | €3,753,000,000 |
| 2017-07-01 | €896,000,000 | €891,000,000 | €3,529,000,000 | €3,746,000,000 |
| 2017-08-01 | €821,000,000 | €996,000,000 | €3,204,000,000 | €3,440,000,000 |
| 2017-09-01 | €711,000,000 | €797,000,000 | €2,707,000,000 | €3,486,000,000 |
| 2017-10-01 | €780,000,000 | €782,000,000 | €3,095,000,000 | €3,560,000,000 |
| 2017-11-01 | €771,000,000 | €796,000,000 | €3,031,000,000 | €3,866,000,000 |
| 2017-12-01 | €685,000,000 | €740,000,000 | €2,733,000,000 | €3,486,000,000 |
| 2018-01-01 | €837,000,000 | €946,000,000 | €3,283,000,000 | €4,003,000,000 |
| 2018-02-01 | €702,000,000 | €803,000,000 | €2,946,000,000 | €4,128,000,000 |
| 2018-03-01 | €831,000,000 | €871,000,000 | €3,271,000,000 | €4,181,000,000 |
| 2018-04-01 | €866,000,000 | €907,000,000 | €3,606,000,000 | €4,403,000,000 |
| 2018-05-01 | €733,000,000 | €834,000,000 | €3,043,000,000 | €3,782,000,000 |
| 2018-06-01 | €1,087,000,000 | €901,000,000 | €3,025,000,000 | €4,027,000,000 |
| 2018-07-01 | €914,000,000 | €960,000,000 | €3,575,000,000 | €4,173,000,000 |
| 2018-08-01 | €807,000,000 | €792,000,000 | €2,911,000,000 | €3,914,000,000 |
| 2018-09-01 | €664,000,000 | €715,000,000 | €2,604,000,000 | €3,512,000,000 |
| 2018-10-01 | €880,000,000 | €846,000,000 | €3,351,000,000 | €4,124,000,000 |
| 2018-11-01 | €750,000,000 | €771,000,000 | €2,910,000,000 | €4,073,000,000 |
| 2018-12-01 | €694,000,000 | €670,000,000 | €2,592,000,000 | €3,286,000,000 |
| 2019-01-01 | €922,000,000 | €948,000,000 | €3,196,000,000 | €4,172,000,000 |
| 2019-02-01 | €682,000,000 | €859,000,000 | €2,709,000,000 | €3,790,000,000 |
| 2019-03-01 | €732,000,000 | €768,000,000 | €2,924,000,000 | €4,191,000,000 |
| 2019-04-01 | €933,000,000 | €986,000,000 | €3,469,000,000 | €4,498,000,000 |
| 2019-05-01 | €945,000,000 | €879,000,000 | €3,118,000,000 | €4,492,000,000 |
| 2019-06-01 | €820,000,000 | €744,000,000 | €2,732,000,000 | €3,981,000,000 |
| 2019-07-01 | €944,000,000 | €935,000,000 | €3,493,000,000 | €5,054,000,000 |
| 2019-08-01 | €732,000,000 | €762,000,000 | €2,860,000,000 | €4,654,000,000 |
| 2019-09-01 | €689,000,000 | €689,000,000 | €2,919,000,000 | €4,669,000,000 |
| 2019-10-01 | €818,000,000 | €799,000,000 | €3,118,000,000 | €4,925,000,000 |
| 2019-11-01 | €738,000,000 | €787,000,000 | €2,848,000,000 | €4,800,000,000 |
| 2019-12-01 | €758,000,000 | €719,000,000 | €2,898,000,000 | €4,365,000,000 |
| 2020-01-01 | €891,000,000 | €888,000,000 | €3,130,000,000 | €5,054,000,000 |
| 2020-02-01 | €641,000,000 | €702,000,000 | €2,785,000,000 | €4,739,000,000 |
| 2020-03-01 | €828,000,000 | €925,000,000 | €3,673,000,000 | €6,035,000,000 |
| 2020-04-01 | €951,000,000 | €939,000,000 | €3,594,000,000 | €6,011,000,000 |
| 2020-05-01 | €1,046,000,000 | €835,000,000 | €3,065,000,000 | €5,138,000,000 |
| 2020-06-01 | €803,000,000 | €935,000,000 | €3,656,000,000 | €4,696,000,000 |
| 2020-07-01 | €951,000,000 | €876,000,000 | €3,621,000,000 | €5,239,000,000 |
| 2020-08-01 | €748,000,000 | €673,000,000 | €3,137,000,000 | €4,516,000,000 |
| 2020-09-01 | €795,000,000 | €753,000,000 | €3,201,000,000 | €5,116,000,000 |
| 2020-10-01 | €806,000,000 | €748,000,000 | €3,239,000,000 | €5,349,000,000 |
| 2020-11-01 | €819,000,000 | €823,000,000 | €3,182,000,000 | €5,313,000,000 |
| 2020-12-01 | €796,000,000 | €781,000,000 | €3,355,000,000 | €4,660,000,000 |
| 2021-01-01 | €814,000,000 | €780,000,000 | €3,226,000,000 | €4,911,000,000 |
| 2021-02-01 | €752,000,000 | €773,000,000 | €3,228,000,000 | €4,906,000,000 |
| 2021-03-01 | €929,000,000 | €884,000,000 | €4,589,000,000 | €6,352,000,000 |
| 2021-04-01 | €801,000,000 | €822,000,000 | €3,834,000,000 | €5,026,000,000 |
| 2021-05-01 | €747,000,000 | €725,000,000 | €3,738,000,000 | €4,587,000,000 |
| 2021-06-01 | €836,000,000 | €793,000,000 | €4,071,000,000 | €4,930,000,000 |
| 2021-07-01 | €934,000,000 | €749,000,000 | €3,906,000,000 | €4,878,000,000 |
| 2021-08-01 | €821,000,000 | €665,000,000 | €3,442,000,000 | €4,479,000,000 |
| 2021-09-01 | €802,000,000 | €664,000,000 | €3,299,000,000 | €4,706,000,000 |
| 2021-10-01 | €874,000,000 | €746,000,000 | €3,569,000,000 | €4,577,000,000 |
| 2021-11-01 | €708,000,000 | €685,000,000 | €3,670,000,000 | €4,605,000,000 |
| 2021-12-01 | €783,000,000 | €727,000,000 | €3,784,000,000 | €4,971,000,000 |
| 2022-01-01 | €942,000,000 | €861,000,000 | €4,087,000,000 | €5,115,000,000 |
| 2022-02-01 | €749,000,000 | €826,000,000 | €4,366,000,000 | €5,652,000,000 |
| 2022-03-01 | €936,000,000 | €974,000,000 | €5,637,000,000 | €7,019,000,000 |
| 2022-04-01 | €804,000,000 | €831,000,000 | €4,658,000,000 | €5,379,000,000 |
| 2022-05-01 | €839,000,000 | €856,000,000 | €5,030,000,000 | €5,361,000,000 |
| 2022-06-01 | €865,000,000 | €774,000,000 | €4,073,000,000 | €4,573,000,000 |
| 2022-07-01 | €1,031,000,000 | €802,000,000 | €3,794,000,000 | €4,084,000,000 |
| 2022-08-01 | €820,000,000 | €711,000,000 | €3,215,000,000 | €3,457,000,000 |
| 2022-09-01 | €746,000,000 | €638,000,000 | €2,725,000,000 | €3,059,000,000 |
| 2022-10-01 | €916,000,000 | €661,000,000 | €2,482,000,000 | €2,563,000,000 |
| 2022-11-01 | €806,000,000 | €563,000,000 | €2,402,000,000 | €2,312,000,000 |
| 2022-12-01 | €923,000,000 | €554,000,000 | €2,213,000,000 | €2,285,000,000 |
| 2023-01-01 | €813,000,000 | €584,000,000 | €2,136,000,000 | €2,082,000,000 |
| 2023-02-01 | €763,000,000 | €556,000,000 | €1,928,000,000 | €1,887,000,000 |
| 2023-03-01 | €841,000,000 | €752,000,000 | €2,520,000,000 | €2,621,000,000 |
| 2023-04-01 | €824,000,000 | €601,000,000 | €2,141,000,000 | €2,401,000,000 |
| 2023-05-01 | €789,000,000 | €629,000,000 | €2,225,000,000 | €2,178,000,000 |
| 2023-06-01 | €836,000,000 | €648,000,000 | €2,314,000,000 | €2,387,000,000 |
| 2023-07-01 | €729,000,000 | €661,000,000 | €2,384,000,000 | €2,818,000,000 |
| 2023-08-01 | €767,000,000 | €637,000,000 | €2,399,000,000 | €2,664,000,000 |
| 2023-09-01 | €540,000,000 | €551,000,000 | €2,092,000,000 | €2,521,000,000 |
| 2023-10-01 | €769,000,000 | €587,000,000 | €2,335,000,000 | €2,516,000,000 |
| 2023-11-01 | €669,000,000 | €728,000,000 | €2,170,000,000 | €2,607,000,000 |
| 2023-12-01 | €612,000,000 | €609,000,000 | €1,935,000,000 | €2,432,000,000 |
| 2024-01-01 | €706,000,000 | €746,000,000 | €2,461,000,000 | €3,138,000,000 |
| 2024-02-01 | €717,000,000 | €764,000,000 | €2,314,000,000 | €3,032,000,000 |
| 2024-03-01 | €737,000,000 | €762,000,000 | €2,491,000,000 | €3,334,000,000 |
| 2024-04-01 | €783,000,000 | €853,000,000 | €2,770,000,000 | €3,492,000,000 |
| 2024-05-01 | €740,000,000 | €677,000,000 | €2,483,000,000 | €2,973,000,000 |
| 2024-06-01 | €844,000,000 | €682,000,000 | €2,777,000,000 | €3,442,000,000 |
| 2024-07-01 | €877,000,000 | €808,000,000 | €3,290,000,000 | €3,886,000,000 |
| 2024-08-01 | €745,000,000 | €710,000,000 | €2,614,000,000 | €3,479,000,000 |
| 2024-09-01 | €746,000,000 | €687,000,000 | €2,689,000,000 | €3,486,000,000 |
| 2024-10-01 | €843,000,000 | €787,000,000 | €2,635,000,000 | €3,747,000,000 |
| 2024-11-01 | €770,000,000 | €791,000,000 | €2,224,000,000 | €4,095,000,000 |
| 2024-12-01 | €802,000,000 | €764,000,000 | €2,167,000,000 | €3,666,000,000 |
| 2025-01-01 | €936,000,000 | €902,000,000 | €2,629,000,000 | €4,261,000,000 |
| 2025-02-01 | €935,000,000 | €817,000,000 | €2,340,000,000 | €4,088,000,000 |
| 2025-03-01 | €1,013,000,000 | €1,057,000,000 | €2,878,000,000 | €4,715,000,000 |
| 2025-04-01 | €1,048,000,000 | €1,045,000,000 | €2,936,000,000 | €4,083,000,000 |
| 2025-05-01 | €961,000,000 | €932,000,000 | €2,624,000,000 | €4,140,000,000 |
| 2025-06-01 | €1,107,000,000 | €959,000,000 | €2,695,000,000 | €3,815,000,000 |
| 2025-07-01 | €1,106,000,000 | €1,149,000,000 | €3,119,000,000 | €4,348,000,000 |
| 2025-08-01 | €927,000,000 | €883,000,000 | €2,522,000,000 | €3,689,000,000 |
| 2025-09-01 | €781,000,000 | €924,000,000 | €2,679,000,000 | €3,760,000,000 |
| 2025-10-01 | €951,000,000 | €1,086,000,000 | €2,880,000,000 | €3,943,000,000 |
| 2025-11-01 | €916,000,000 | €1,009,000,000 | €2,701,000,000 | €4,008,000,000 |
| 2025-12-01 | €993,000,000 | €966,000,000 | €2,874,000,000 | €3,629,000,000 |
| 2026-01-01 | €964,000,000 | €1,019,000,000 | €2,758,000,000 | €3,548,000,000 |
| 2026-02-01 | €891,000,000 | €896,000,000 | €2,783,000,000 | €3,623,000,000 |
| 2026-03-01 | €1,055,000,000 | €1,305,000,000 | €3,470,000,000 | €4,991,000,000 |
| 2026-04-01 | €980,000,000 | €1,048,000,000 | €3,194,000,000 | €4,167,000,000 |
| 2026-05-01 | €913,000,000 | €893,000,000 | €2,628,000,000 | €3,301,000,000 |
| 2026-06-01 | €940,000,000 | €986,000,000 | €2,940,000,000 | €3,665,000,000 |
| 2026-07-01 | €935,000,000 | €920,000,000 | €3,206,000,000 | €4,402,000,000 |
Mortgage Interest Rates
Development of mortgage interest rates by maturity
| Period | Interest rate var./up to 1Y | Interest rate 1-5Y | Interest rate 5-10Y | Interest rate >10Y |
|---|---|---|---|---|
| 2010-06-01 | 3.08 % | 3.28 % | 3.80 % | 3.80 % |
| 2010-07-01 | 2.81 % | 3.35 % | 3.76 % | 3.80 % |
| 2010-08-01 | 2.98 % | 3.25 % | 3.72 % | 3.76 % |
| 2010-09-01 | 2.99 % | 3.18 % | 3.59 % | 3.56 % |
| 2010-10-01 | 2.81 % | 3.33 % | 3.52 % | 3.64 % |
| 2010-11-01 | 3.05 % | 3.17 % | 3.54 % | 3.65 % |
| 2010-12-01 | 3.13 % | 3.29 % | 3.64 % | 3.77 % |
| 2011-01-01 | 3.05 % | 3.34 % | 3.78 % | 3.98 % |
| 2011-02-01 | 3.29 % | 3.51 % | 3.98 % | 4.09 % |
| 2011-03-01 | 3.28 % | 3.63 % | 4.05 % | 4.18 % |
| 2011-04-01 | 3.20 % | 3.70 % | 4.12 % | 4.47 % |
| 2011-05-01 | 3.59 % | 3.80 % | 4.20 % | 4.33 % |
| 2011-06-01 | 3.55 % | 3.74 % | 4.15 % | 4.25 % |
| 2011-07-01 | 3.34 % | 3.78 % | 4.08 % | 4.18 % |
| 2011-08-01 | 3.65 % | 3.63 % | 3.96 % | 4.09 % |
| 2011-09-01 | 3.56 % | 3.39 % | 3.74 % | 3.75 % |
| 2011-10-01 | 3.44 % | 3.31 % | 3.55 % | 3.65 % |
| 2011-11-01 | 3.46 % | 3.23 % | 3.50 % | 3.50 % |
| 2011-12-01 | 3.49 % | 3.18 % | 3.46 % | 3.43 % |
| 2012-01-01 | 3.44 % | 3.15 % | 3.41 % | 3.56 % |
| 2012-02-01 | 3.50 % | 2.94 % | 3.29 % | 3.43 % |
| 2012-03-01 | 3.13 % | 2.83 % | 3.21 % | 3.34 % |
| 2012-04-01 | 3.11 % | 2.88 % | 3.18 % | 3.65 % |
| 2012-05-01 | 3.01 % | 2.78 % | 3.10 % | 3.28 % |
| 2012-06-01 | 2.94 % | 2.67 % | 2.95 % | 3.07 % |
| 2012-07-01 | 2.99 % | 2.66 % | 2.90 % | 2.97 % |
| 2012-08-01 | 2.98 % | 2.54 % | 2.80 % | 2.98 % |
| 2012-09-01 | 2.78 % | 2.52 % | 2.79 % | 2.94 % |
| 2012-10-01 | 2.59 % | 2.52 % | 2.78 % | 2.97 % |
| 2012-11-01 | 2.79 % | 2.44 % | 2.73 % | 2.87 % |
| 2012-12-01 | 2.71 % | 2.38 % | 2.71 % | 2.86 % |
| 2013-01-01 | 2.55 % | 2.42 % | 2.65 % | 2.92 % |
| 2013-02-01 | 2.67 % | 2.34 % | 2.69 % | 2.93 % |
| 2013-03-01 | 2.67 % | 2.32 % | 2.68 % | 2.89 % |
| 2013-04-01 | 2.73 % | 2.37 % | 2.64 % | 3.05 % |
| 2013-05-01 | 2.73 % | 2.23 % | 2.56 % | 2.74 % |
| 2013-06-01 | 2.53 % | 2.18 % | 2.49 % | 2.67 % |
| 2013-07-01 | 2.61 % | 2.25 % | 2.57 % | 2.73 % |
| 2013-08-01 | 2.52 % | 2.33 % | 2.66 % | 2.88 % |
| 2013-09-01 | 2.65 % | 2.34 % | 2.76 % | 2.95 % |
| 2013-10-01 | 2.52 % | 2.48 % | 2.85 % | 3.03 % |
| 2013-11-01 | 2.66 % | 2.43 % | 2.82 % | 2.99 % |
| 2013-12-01 | 2.53 % | 2.33 % | 2.78 % | 2.94 % |
| 2014-01-01 | 2.57 % | 2.42 % | 2.79 % | 2.99 % |
| 2014-02-01 | 3.10 % | 2.33 % | 2.75 % | 2.95 % |
| 2014-03-01 | 2.57 % | 2.28 % | 2.64 % | 2.86 % |
| 2014-04-01 | 2.53 % | 2.29 % | 2.63 % | 2.98 % |
| 2014-05-01 | 2.51 % | 2.20 % | 2.55 % | 2.74 % |
| 2014-06-01 | 2.35 % | 2.16 % | 2.48 % | 2.71 % |
| 2014-07-01 | 2.37 % | 2.09 % | 2.39 % | 2.56 % |
| 2014-08-01 | 2.51 % | 2.03 % | 2.30 % | 2.45 % |
| 2014-09-01 | 2.39 % | 1.93 % | 2.18 % | 2.35 % |
| 2014-10-01 | 2.33 % | 1.91 % | 2.11 % | 2.31 % |
| 2014-11-01 | 2.22 % | 1.58 % | 2.02 % | 2.23 % |
| 2014-12-01 | 2.23 % | 1.80 % | 2.01 % | 2.15 % |
| 2015-01-01 | 2.16 % | 1.82 % | 1.93 % | 1.60 % |
| 2015-02-01 | 2.31 % | 1.69 % | 1.77 % | 1.96 % |
| 2015-03-01 | 2.12 % | 1.68 % | 1.69 % | 1.82 % |
| 2015-04-01 | 2.07 % | 1.59 % | 1.63 % | 2.09 % |
| 2015-05-01 | 2.16 % | 1.56 % | 1.54 % | 1.74 % |
| 2015-06-01 | 2.02 % | 1.59 % | 1.65 % | 1.84 % |
| 2015-07-01 | 2.15 % | 1.69 % | 1.80 % | 2.03 % |
| 2015-08-01 | 2.23 % | 1.71 % | 1.86 % | 2.11 % |
| 2015-09-01 | 2.13 % | 1.74 % | 1.87 % | 2.07 % |
| 2015-10-01 | 2.10 % | 1.71 % | 1.86 % | 2.16 % |
| 2015-11-01 | 2.21 % | 1.69 % | 1.83 % | 2.05 % |
| 2015-12-01 | 2.06 % | 1.63 % | 1.77 % | 1.95 % |
| 2016-01-01 | 2.30 % | 1.62 % | 1.80 % | 2.04 % |
| 2016-02-01 | 2.47 % | 1.62 % | 1.73 % | 1.95 % |
| 2016-03-01 | 2.01 % | 1.63 % | 1.63 % | 1.81 % |
| 2016-04-01 | 2.17 % | 1.53 % | 1.62 % | 2.14 % |
| 2016-05-01 | 2.08 % | 1.53 % | 1.54 % | 1.81 % |
| 2016-06-01 | 1.96 % | 1.55 % | 1.53 % | 1.75 % |
| 2016-07-01 | 1.86 % | 1.51 % | 1.53 % | 1.75 % |
| 2016-08-01 | 1.97 % | 1.46 % | 1.41 % | 1.67 % |
| 2016-09-01 | 1.98 % | 1.46 % | 1.39 % | 1.61 % |
| 2016-10-01 | 1.89 % | 1.43 % | 1.39 % | 1.65 % |
| 2016-11-01 | 1.54 % | 1.48 % | 1.36 % | 1.65 % |
| 2016-12-01 | 1.85 % | 1.55 % | 1.41 % | 1.66 % |
| 2017-01-01 | 1.90 % | 1.50 % | 1.52 % | 1.81 % |
| 2017-02-01 | 2.06 % | 1.50 % | 1.57 % | 1.82 % |
| 2017-03-01 | 1.96 % | 1.53 % | 1.59 % | 1.82 % |
| 2017-04-01 | 1.98 % | 1.53 % | 1.60 % | 1.89 % |
| 2017-05-01 | 2.09 % | 1.59 % | 1.58 % | 1.81 % |
| 2017-06-01 | 1.87 % | 1.53 % | 1.61 % | 1.82 % |
| 2017-07-01 | 1.84 % | 1.53 % | 1.60 % | 1.84 % |
| 2017-08-01 | 1.96 % | 1.87 % | 1.59 % | 1.92 % |
| 2017-09-01 | 1.97 % | 1.53 % | 1.63 % | 1.92 % |
| 2017-10-01 | 1.97 % | 1.53 % | 1.62 % | 1.92 % |
| 2017-11-01 | 1.93 % | 1.53 % | 1.60 % | 1.90 % |
| 2017-12-01 | 1.97 % | 1.51 % | 1.57 % | 1.77 % |
| 2018-01-01 | 2.00 % | 1.57 % | 1.59 % | 1.88 % |
| 2018-02-01 | 2.02 % | 1.53 % | 1.61 % | 1.86 % |
| 2018-03-01 | 1.96 % | 1.61 % | 1.67 % | 1.94 % |
| 2018-04-01 | 2.08 % | 1.55 % | 1.71 % | 1.91 % |
| 2018-05-01 | 2.02 % | 1.55 % | 1.71 % | 1.96 % |
| 2018-06-01 | 2.00 % | 1.61 % | 1.71 % | 1.94 % |
| 2018-07-01 | 2.06 % | 1.60 % | 1.69 % | 1.94 % |
| 2018-08-01 | 2.02 % | 1.54 % | 1.65 % | 1.96 % |
| 2018-09-01 | 2.13 % | 1.51 % | 1.65 % | 1.95 % |
| 2018-10-01 | 1.98 % | 1.51 % | 1.67 % | 1.96 % |
| 2018-11-01 | 1.95 % | 1.53 % | 1.67 % | 1.98 % |
| 2018-12-01 | 2.02 % | 1.49 % | 1.64 % | 1.93 % |
| 2019-01-01 | 2.04 % | 1.50 % | 1.65 % | 1.96 % |
| 2019-02-01 | 2.07 % | 1.45 % | 1.56 % | 1.84 % |
| 2019-03-01 | 2.06 % | 1.43 % | 1.51 % | 1.77 % |
| 2019-04-01 | 2.02 % | 1.40 % | 1.47 % | 1.71 % |
| 2019-05-01 | 1.90 % | 1.30 % | 1.39 % | 1.65 % |
| 2019-06-01 | 1.98 % | 1.28 % | 1.35 % | 1.59 % |
| 2019-07-01 | 1.96 % | 1.24 % | 1.30 % | 1.48 % |
| 2019-08-01 | 1.90 % | 1.19 % | 1.17 % | 1.35 % |
| 2019-09-01 | 1.89 % | 1.19 % | 1.08 % | 1.21 % |
| 2019-10-01 | 1.82 % | 1.09 % | 1.06 % | 1.20 % |
| 2019-11-01 | 1.75 % | 1.09 % | 1.03 % | 1.22 % |
| 2019-12-01 | 1.79 % | 1.15 % | 1.07 % | 1.19 % |
| 2020-01-01 | 1.77 % | 1.14 % | 1.07 % | 1.30 % |
| 2020-02-01 | 1.73 % | 1.14 % | 1.04 % | 1.19 % |
| 2020-03-01 | 1.76 % | 1.15 % | 0.98 % | 1.13 % |
| 2020-04-01 | 1.70 % | 1.21 % | 1.03 % | 1.14 % |
| 2020-05-01 | 1.86 % | 1.31 % | 1.05 % | 1.22 % |
| 2020-06-01 | 1.84 % | 1.41 % | 1.10 % | 1.25 % |
| 2020-07-01 | 1.76 % | 1.23 % | 1.05 % | 1.23 % |
| 2020-08-01 | 1.77 % | 1.17 % | 0.98 % | 1.17 % |
| 2020-09-01 | 1.75 % | 1.14 % | 1.00 % | 1.14 % |
| 2020-10-01 | 1.73 % | 1.12 % | 1.00 % | 1.14 % |
| 2020-11-01 | 1.61 % | 1.10 % | 0.96 % | 1.11 % |
| 2020-12-01 | 1.63 % | 1.12 % | 0.95 % | 1.07 % |
| 2021-01-01 | 1.71 % | 1.11 % | 0.97 % | 1.14 % |
| 2021-02-01 | 1.60 % | 1.08 % | 0.96 % | 1.14 % |
| 2021-03-01 | 1.69 % | 1.08 % | 0.95 % | 1.14 % |
| 2021-04-01 | 1.71 % | 1.10 % | 1.00 % | 1.18 % |
| 2021-05-01 | 1.74 % | 1.09 % | 1.01 % | 1.25 % |
| 2021-06-01 | 1.69 % | 1.14 % | 1.06 % | 1.29 % |
| 2021-07-01 | 1.66 % | 1.15 % | 1.08 % | 1.33 % |
| 2021-08-01 | 1.67 % | 1.21 % | 1.03 % | 1.25 % |
| 2021-09-01 | 1.67 % | 1.13 % | 1.03 % | 1.24 % |
| 2021-10-01 | 1.70 % | 1.16 % | 1.02 % | 1.25 % |
| 2021-11-01 | 1.72 % | 1.22 % | 1.08 % | 1.29 % |
| 2021-12-01 | 1.70 % | 1.22 % | 1.09 % | 1.31 % |
| 2022-01-01 | 1.75 % | 1.18 % | 1.13 % | 1.33 % |
| 2022-02-01 | 1.74 % | 1.28 % | 1.24 % | 1.43 % |
| 2022-03-01 | 1.80 % | 1.54 % | 1.46 % | 1.64 % |
| 2022-04-01 | 1.88 % | 1.71 % | 1.77 % | 1.96 % |
| 2022-05-01 | 1.96 % | 2.08 % | 2.11 % | 2.34 % |
| 2022-06-01 | 2.08 % | 2.37 % | 2.41 % | 2.67 % |
| 2022-07-01 | 2.19 % | 2.51 % | 2.63 % | 2.91 % |
| 2022-08-01 | 2.36 % | 2.63 % | 2.68 % | 2.92 % |
| 2022-09-01 | 2.54 % | 2.80 % | 2.84 % | 3.05 % |
| 2022-10-01 | 2.78 % | 3.20 % | 3.10 % | 3.31 % |
| 2022-11-01 | 3.22 % | 3.62 % | 3.42 % | 3.57 % |
| 2022-12-01 | 3.46 % | 3.64 % | 3.36 % | 3.42 % |
| 2023-01-01 | 3.85 % | 3.66 % | 3.38 % | 3.47 % |
| 2023-02-01 | 4.04 % | 3.84 % | 3.49 % | 3.58 % |
| 2023-03-01 | 4.30 % | 4.05 % | 3.56 % | 3.65 % |
| 2023-04-01 | 4.61 % | 4.02 % | 3.59 % | 3.62 % |
| 2023-05-01 | 4.68 % | 4.14 % | 3.59 % | 3.66 % |
| 2023-06-01 | 4.81 % | 4.13 % | 3.61 % | 3.67 % |
| 2023-07-01 | 5.08 % | 4.20 % | 3.63 % | 3.72 % |
| 2023-08-01 | 5.10 % | 4.29 % | 3.73 % | 3.75 % |
| 2023-09-01 | 5.36 % | 4.32 % | 3.78 % | 3.65 % |
| 2023-10-01 | 5.44 % | 4.38 % | 3.73 % | 3.76 % |
| 2023-11-01 | 5.50 % | 4.45 % | 3.80 % | 3.70 % |
| 2023-12-01 | 5.39 % | 4.29 % | 3.73 % | 3.47 % |
| 2024-01-01 | 5.34 % | 3.96 % | 3.44 % | 3.45 % |
| 2024-02-01 | 5.33 % | 3.82 % | 3.43 % | 3.50 % |
| 2024-03-01 | 5.00 % | 3.91 % | 3.43 % | 3.49 % |
| 2024-04-01 | 5.48 % | 3.88 % | 3.48 % | 3.53 % |
| 2024-05-01 | 5.35 % | 3.97 % | 3.48 % | 3.57 % |
| 2024-06-01 | 5.43 % | 4.03 % | 3.54 % | 3.52 % |
| 2024-07-01 | 5.27 % | 3.97 % | 3.55 % | 3.59 % |
| 2024-08-01 | 5.29 % | 3.85 % | 3.51 % | 3.45 % |
| 2024-09-01 | 5.10 % | 3.70 % | 3.38 % | 3.37 % |
| 2024-10-01 | 4.79 % | 3.56 % | 3.32 % | 3.32 % |
| 2024-11-01 | 4.89 % | 3.48 % | 3.29 % | 3.18 % |
| 2024-12-01 | 4.71 % | 3.44 % | 3.25 % | 3.20 % |
| 2025-01-01 | 4.44 % | 3.35 % | 3.22 % | 3.32 % |
| 2025-02-01 | 4.43 % | 3.42 % | 3.28 % | 3.40 % |
| 2025-03-01 | 4.29 % | 3.42 % | 3.34 % | 3.44 % |
| 2025-04-01 | 4.30 % | 3.48 % | 3.43 % | 3.54 % |
| 2025-05-01 | 4.18 % | 3.39 % | 3.43 % | 3.51 % |
| 2025-06-01 | 4.05 % | 3.39 % | 3.44 % | 3.57 % |
| 2025-07-01 | 3.97 % | 3.36 % | 3.47 % | 3.58 % |
| 2025-08-01 | 4.01 % | 3.39 % | 3.47 % | 3.62 % |
| 2025-09-01 | 3.92 % | 3.42 % | 3.56 % | 3.66 % |
| 2025-10-01 | 3.99 % | 3.46 % | 3.50 % | 3.55 % |
| 2025-11-01 | 3.98 % | 3.41 % | 3.50 % | 3.57 % |
| 2025-12-01 | 3.93 % | 3.45 % | 3.49 % | 3.59 % |
| 2026-01-01 | 4.08 % | 3.48 % | 3.49 % | 3.70 % |
| 2026-02-01 | 4.03 % | 3.50 % | 3.53 % | 3.63 % |
| 2026-03-01 | 3.92 % | 3.49 % | 3.52 % | 3.55 % |
| 2026-04-01 | 4.09 % | 3.67 % | 3.58 % | 3.78 % |
| 2026-05-01 | 4.18 % | 3.76 % | 3.69 % | 3.83 % |
| 2026-06-01 | 4.24 % | 3.81 % | 3.69 % | 3.82 % |
| 2026-07-01 | 4.34 % | 3.80 % | 3.71 % | 3.72 % |
Construction Costs
The construction price index for residential buildings uses 2015 as its base year, set at 100. In the most recent published quarter it changes by 5.2 % against the prior-year quarter and by 2.5 % against the previous quarter.
Construction Prices
Development of construction prices (year-over-year change)
| Period | Construction price index Change vs. prev. year |
|---|---|
| 2010-01-01 | 0 |
| 2010-04-01 | 0.7 |
| 2010-07-01 | 0.8 |
| 2010-10-01 | 1 |
| 2011-01-01 | 1.8 |
| 2011-04-01 | 1.9 |
| 2011-07-01 | 2.1 |
| 2011-10-01 | 2.2 |
| 2012-01-01 | 2.2 |
| 2012-04-01 | 2 |
| 2012-07-01 | 1.9 |
| 2012-10-01 | 1.9 |
| 2013-01-01 | 1.6 |
| 2013-04-01 | 1.6 |
| 2013-07-01 | 1.6 |
| 2013-10-01 | 1.4 |
| 2014-01-01 | 1.5 |
| 2014-04-01 | 1.3 |
| 2014-07-01 | 1.3 |
| 2014-10-01 | 1.2 |
| 2015-01-01 | 1.1 |
| 2015-04-01 | 1.1 |
| 2015-07-01 | 1 |
| 2015-10-01 | 1.1 |
| 2016-01-01 | 1.2 |
| 2016-04-01 | 1.5 |
| 2016-07-01 | 1.6 |
| 2016-10-01 | 1.8 |
| 2017-01-01 | 2.2 |
| 2017-04-01 | 2.5 |
| 2017-07-01 | 2.7 |
| 2017-10-01 | 3 |
| 2018-01-01 | 3.5 |
| 2018-04-01 | 3.5 |
| 2018-07-01 | 4.2 |
| 2018-10-01 | 4.4 |
| 2019-01-01 | 4.4 |
| 2019-04-01 | 4.4 |
| 2019-07-01 | 3.8 |
| 2019-10-01 | 3.4 |
| 2020-01-01 | 3 |
| 2020-04-01 | 2.6 |
| 2020-07-01 | -0.1 |
| 2020-10-01 | -0.3 |
| 2021-01-01 | 2.7 |
| 2021-04-01 | 5.7 |
| 2021-07-01 | 10.9 |
| 2021-10-01 | 12.9 |
| 2022-01-01 | 13.4 |
| 2022-04-01 | 17.6 |
| 2022-07-01 | 17.4 |
| 2022-10-01 | 18 |
| 2023-01-01 | 16.8 |
| 2023-04-01 | 10.3 |
| 2023-07-01 | 7.8 |
| 2023-10-01 | 5.6 |
| 2024-01-01 | 4 |
| 2024-04-01 | 3.8 |
| 2024-07-01 | 4.3 |
| 2024-10-01 | 4.3 |
| 2025-01-01 | 4.3 |
| 2025-04-01 | 4.5 |
| 2025-07-01 | 4.2 |
| 2025-10-01 | 4.3 |
| 2026-01-01 | 4.6 |
| 2026-04-01 | 7 |
Property Prices Germany
Price Indices for Residential Property
National price development for owner-occupied apartments and single-family houses is recorded in parallel by Destatis, vdpResearch and Hypoport. The three providers cover different slices of the market and differ by a few percentage points in level. Berlin is one of the seven major cities reported separately. The series is updated annually, and the figures below refer to the most recent completed calendar year.
- Top 7 major cities: 1.0 % year on year
- Top 127 cities: 1.5 % year on year
- Rural districts and independent cities: 1.3 % year on year
Residential Price Indices
Development of price indices for residential properties
| Period | Top 7 major cities | Top 127 cities | Counties & independent cities |
|---|---|---|---|
| 2010-01-01 | 100 | 100 | 100 |
| 2011-01-01 | 108 | 103 | 106 |
| 2012-01-01 | 117 | 107 | 113 |
| 2013-01-01 | 129 | 113 | 122 |
| 2014-01-01 | 137 | 118 | 129 |
| 2015-01-01 | 149 | 126 | 138 |
| 2016-01-01 | 165 | 137 | 151 |
| 2017-01-01 | 180 | 147 | 164 |
| 2018-01-01 | 197 | 160 | 178 |
| 2019-01-01 | 210 | 171 | 189 |
| 2020-01-01 | 227 | 183 | 202 |
| 2021-01-01 | 245 | 198 | 217 |
| 2022-01-01 | 260 | 210 | 230 |
| 2023-01-01 | 247 | 205 | 220 |
| 2024-01-01 | 243 | 205 | 217 |
| 2025-01-01 | 245 | 208 | 220 |
Residential Transaction Indices
Development of transaction indices for residential properties
| Period | Top 7 major cities | Top 127 cities | Counties & independent cities |
|---|---|---|---|
| 2010-01-01 | 100 | 100 | 100 |
| 2011-01-01 | 112 | 111 | 110 |
| 2012-01-01 | 113 | 111 | 107 |
| 2013-01-01 | 109 | 107 | 103 |
| 2014-01-01 | 111 | 107 | 96 |
| 2015-01-01 | 115 | 110 | 105 |
| 2016-01-01 | 116 | 111 | 101 |
| 2017-01-01 | 110 | 105 | 95 |
| 2018-01-01 | 111 | 103 | 87 |
| 2019-01-01 | 118 | 109 | 88 |
| 2020-01-01 | 115 | 104 | 80 |
| 2021-01-01 | 119 | 109 | 90 |
| 2022-01-01 | 100 | 91 | 71 |
| 2023-01-01 | 79 | 72 | 59 |
| 2024-01-01 | 92 | 87 | 73 |
| 2025-01-01 | – | – | – |
Price Index for Apartment Buildings
Apartment buildings are recorded quarterly by vdpResearch.
Apartment Building Price Index
Development of apartment building price index in Germany
| Period | Price index |
|---|---|
| 2013-01-01 | 99 |
| 2013-04-01 | 100 |
| 2013-07-01 | 100 |
| 2013-10-01 | 101 |
| 2014-01-01 | 102 |
| 2014-04-01 | 104 |
| 2014-07-01 | 105 |
| 2014-10-01 | 106 |
| 2015-01-01 | 109 |
| 2015-04-01 | 112 |
| 2015-07-01 | 115 |
| 2015-10-01 | 117 |
| 2016-01-01 | 120 |
| 2016-04-01 | 121 |
| 2016-07-01 | 122 |
| 2016-10-01 | 123 |
| 2017-01-01 | 126 |
| 2017-04-01 | 130 |
| 2017-07-01 | 133 |
| 2017-10-01 | 134 |
| 2018-01-01 | 137 |
| 2018-04-01 | 140 |
| 2018-07-01 | 145 |
| 2018-10-01 | 150 |
| 2019-01-01 | 155 |
| 2019-04-01 | 160 |
| 2019-07-01 | 165 |
| 2019-10-01 | 170 |
| 2020-01-01 | 173 |
| 2020-04-01 | 178 |
| 2020-07-01 | 184 |
| 2020-10-01 | 191 |
| 2021-01-01 | 197 |
| 2021-04-01 | 202 |
| 2021-07-01 | 206 |
| 2021-10-01 | 210 |
| 2022-01-01 | 213 |
| 2022-04-01 | 212 |
| 2022-07-01 | 205 |
| 2022-10-01 | 200 |
| 2023-01-01 | 197 |
| 2023-04-01 | 194 |
| 2023-07-01 | 194 |
| 2023-10-01 | 193 |
| 2024-01-01 | 194 |
| 2024-04-01 | 195 |
| 2024-07-01 | 196 |
| 2024-10-01 | 199 |
| 2025-01-01 | 200 |
| 2025-04-01 | 201 |
| 2025-07-01 | 203 |
| 2025-10-01 | 203 |
| 2026-01-01 | 204 |
Sources
All statistical time series on this page are sourced through the SDMX API of the Deutsche Bundesbank. The Bundesbank acts as an aggregator; the primary source depends on the indicator and is either the European Central Bank, the Federal Statistical Office of Germany (Destatis), the Federal Employment Agency, or a private index provider (vdpResearch, Hypoport). The SDMX codes in parentheses identify the respective time series family in the Bundesbank API.
- ECB key interest rates (SDMX BBIN1)
- German government bond yields (SDMX BBSSY)
- Gross domestic product (SDMX BBNZ1)
- Harmonised Index of Consumer Prices (SDMX BBDP1)
- Unemployment (SDMX BBDL1)
- Employment (SDMX BBDL1)
- Housing loans: effective interest rates and volumes (SDMX BBIM1)
- Construction price index for residential buildings (SDMX BBDP1)
- Price indices for apartments (SDMX BBDY1)
- Transaction indices for apartments (SDMX BBDY1)
- Price indices for apartment buildings (SDMX BBDY1)
- Deutsche Bundesbank projection (macroeconomic projections, published semi-annually in the Monthly Report)
- Annual projection of the German Federal Government (Federal Ministry for Economic Affairs and Energy, Annual Economic Report)
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Apartment Market
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