DIFI financing index remains red, with slight brightening for retail

07/03/2019

The German Real Estate Financing Index (DIFI) by JLL and the Leibniz Centre for European Economic Research (ZEW) remains deep in the red. The marginal increase to -9.7 compared with the previous quarter’s -10.8 was partly due to the first-time inclusion of hotel properties, the only asset class above the zero line. Surprisingly, the retail sector also contributed to this small brightening. At -39.4 points, its assessment is 10 points higher than at the end of last year, and financing expectations have also recovered slightly. Both the assessment and expectations for logistics properties fell 10 points. For the first time since 2017, the asset class as a whole is in sub-zero territory; the current assessment, however, remains positive. Anke Herz, Team Leader Debt Advisory at JLL in Germany, says that the forecasts for all types of use are significantly more pessimistic than the current assessment.


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