The German Bundesbank, in cooperation with vdpResearch, has published a new quarterly commercial property price index for Germany, adding a new data source for monitoring the market. The first release shows commercial property prices rising by 2.1 percent year on year in the first quarter of 2026, broadly continuing the upswing that began in mid-2024 after a temporary decline between 2022 and mid-2024. The index tracks price developments for offices, retail properties and multifamily buildings owned by companies. It includes an overall index, property-type sub-indices and five regional sub-indices covering cities of supraregional, regional and local importance, as well as urban and rural areas. The series is based on transaction data from vdpResearch's market volatility database drawn from the financing business of Pfandbrief banks, cooperative banks, savings banks and private banks, with more than 300,000 property transactions since 2013. Over the full observation period, multifamily buildings show the strongest price growth at about 110 percent, compared with about 75 percent for offices, while retail prices in the first quarter of 2026 were roughly back at their starting level after moderate fluctuations. Prices in cities of supraregional importance also show a slight lead over the rest of Germany in timing. The full data set is available through the Bundesbank's time series database, with an accompanying FAQ setting out data sources, statistical methodology, the publication programme and the revision cycle.

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