The German Real Estate Finance Index (Deutscher Immobilien-Finanzierungsindex(DIFI)-Report) is based on a quarterly survey conducted by the ZEW. In the first part of the survey, experts in the market for real estate finance are asked about their forecast and expectations about the financing conditions in the office, retail, logistics and residential real estate market and about the re-financing conditions. The Index is calculated based on the experts expectations about the market sectors. A second part of the survey asks for current topics in the real estate market.

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German Real Estate Finance Index (DIFI Report) Fourth Quarter 2020


  • Upward Trend in Financing Situation Continues
  • Logistics and Residential Sectors Benefiting from the Current Environment
  • No Sustainable Improvement in Sight for Refinancing Conditions
  • Negative Outlook in Terms of the Debt Service Capacity of Borrowers with Commercial Real Estate Loans

More issues in 2020