Immobilien: In diesen Sektoren vergeben Banken jetzt deutlich mehr Darlehen
Trotz steigender Zinsen legt das Neugeschäft mit Immobilienkrediten im ersten Halbjahr 2026 zu. Der Blick auf die Segmente verrät Investoren vor allem zwei Gewinner.
German banks are currently issuing more loans in the real estate sector, despite high construction costs, ongoing inflation, and rising interest rates, according to the latest data released by the Verband deutscher Pfandbriefbanken (VDP). The first half of 2026 saw a surge in bank financing activity, with total lending reaching 80.4 billion euros, an 8.5% increase from the same period in the previous year.
The majority of this growth was driven by residential properties, accounting for 62.3% of the total financing, with new loans for apartments totaling 50.1 billion euros, a 5.3% increase from the same period last year. However, the pace has slowed, with the 11.3% increase in the second half of 2025 down from the 11.3% seen in the same period the year before.
Multi-family housing saw the most significant growth, with financing increasing by 7.3% to 13.2 billion euros, making it the clear leader in the residential sector. Single-family home financing, on the other hand, only grew by 6.7% to 11.2 billion euros, and purchases for single and two-family homes were modest at 23.2 billion euros.
The message for real estate buyers and investors is clear: it is primarily institutional investors, wealthy individuals, and housing societies that are now taking money to buy property, while self-occupiers who tend to buy single and two-family homes are more cautious. The VDP expects only slight growth in the second half of the year, citing geopolitical uncertainties, economic weakness, and the tight housing market as factors that could dampen further financing activity.
Despite this cautious outlook, the commercial real estate sector, particularly new commercial buildings, has shown significant growth, with financing for these properties up 40.6% to 9 billion euros in the first half of 2026. This sector is leading the way among commercial properties, with office buildings growing by 9.6% to 14.8 billion euros.
However, the outlook is not entirely positive, with industrial buildings seeing a 16.7% decrease and other commercial properties falling by 5.3%.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
