DZ HYP publishes German Pfandbrief Market Report 2025/2026

Today sees the publication of the new DZ HYP study covering all the latest developments and trends in the Pfandbrief market.

The report examines various aspects of the Pfandbrief market, which had a circulation volume of over €400 billion in mid-2025. The small but steady growth in recent years has been driven primarily by mortgage Pfandbriefe. However, this development cannot be taken for granted. Yields and risk premiums on Pfandbriefe must be sufficient to attract enough investors to the market.

The issue of sustainability also remains important. The report therefore provides a separate overview of the market for sustainable Pfandbriefe and how it has developed in recent years.

The full report and the questions and answers on the legal framework, last updated at the end of 2024, are available for download here: