Transparency in Real Estate Lending
INREV launches three new indices for German real estate vehicles which measures performance of Spezialfonds, Publikumsfonds and other German vehicle types. The first release of the All German Vehicles Annual Index includes coverage of 177 vehicles representing aggregate NAV of almost €100 Billion. The All German Vehicles indices, annual and quarterly, can be broken down into … Continued
(available only in German) Auszug aus dem Radar: Weit spannender ist die Frage, welche Auswirkungen der Brexit auf die deutschen Immobilienmärkte, insbesondere Frankfurt, haben wird. Sicherlich werden einige Banken, Behörden und andere Organisationen ihren Sitz von London nach Frankfurt oder Paris verlegen oder zumindest eine weitere Niederlassung in Kontinentaleuropa eröffnen, allen voran die Europäische Bankenaufsichtsbehörde … Continued
The German Real Estate Finance Index (DIFI) has fallen by 6.7 points to 8.3 points in the second quarter of 2016. After a brief high, the index has once again returned to its Autumn 2015 level, falling by around 20 points in the past year. This fall is due both to less optimistic assessments of the … Continued
The main driver for the sizeable investment demand from institutional investors was and remains the continued low interest rates. In 2015, the volume invested in commercial real estate increased for the sixth time in a row to reach a record €55.1 billion, exceeding the previous record from 2007. The total transaction volume for the seven … Continued
(German only) Stimmungsgebend sind in diesem Quartal die Relativierung der zuvor guten Neugeschäftsentwicklung, sinkende Margen und eine erhöhte Nachfrage nach alternativen Kreditquellen. Im Wesentlichen ist seit dem zweiten Quartal 2013 bis Mitte 2015 ein positiver Aufwärtstrend erkennbar, der im dritten Quartal des letzten Jahres endete. Damals herrschte noch große Unsicherheit über den Ausgang der Griechenlandkrise … Continued
“We have supported the IRE|BS survey as transparency in the German CRE lending market is extremely important for a better understanding of the real estate investment market of one of Europe’s major economies and helps investors understand wider systematic risks”
„The IRE|BS survey covers important questions regarding the German CRE lending market which have not yet been covered.”
„There is a need for a better understanding of the commercial real estate lending market, because real estate finance can have a decisive impact on the property market and on the economic development as a whole.”
“The IREBS study is an important indicator of current financial stability surrounding real estate finance. The finance market for commercial real estate is extremely robust, which is reflected in the modest growth in lending. The banks have only extended the LTV ratio slightly and are dealing with risks in a responsible manner. The real estate sector currently does not pose any threat to the finance market.”
There is a need for a better understanding of the commercial real estate lending market because real estate finance can have a decisive impact on the property market and on the economic development as a whole.
The aim of this study is to put all market participants in a position to gain a better understanding of the opportunities and risks connected with the German commercial real estate lending market.
Prof. Dr. Tobias Just
Scientific Head and Managing Director
of IRE|BS Immobilienakademie