Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Deutsche Pfandbriefbank : 26.08.2021 German office market economy shows first signs of recovery – market remains in recession phase

08/26/2021 | 04:11am EDT

Munich, 26 August 2021 - The German office property market remains in recession, but has recovered slightly in Q2 2021. Having declined for three consecutive quarters to a low of -1.51 index point in Q1 2021, the pbbIX of-fice market index improved to -1.23 index points in Q2 2021. A further recov-ery of the overall economy and with it the office markets appears possible, but uncertainties due to the COVID 19 pandemic remain and delayed negative effects cannot be ruled out.

The increase in the pbbIX was driven in particular by the improved overall economic situation in Germany and a rise in office investments. The Germany economy improved significantly in the second quarter of 2021. According to first estimates of the German Federal Statistical Office, real gross domestic product showed an increase of 1.5% compared to the previous period. In addition to public expenditure, private consumption was the main contributor to this growth. However, economic output remained well below the pre-crisis level.

Demand for office properties also picked up with just under €6 billion spent across the big 7 markets in Germany. This development indicates that the office investment market is slowly but surely shaking off the negative effects of the pandemic. Initial yields responded accordingly, trending downwards for first-class properties in the second quarter. Demand for rental space on the other hand remained on a low level when compared to the pre-crisis levels.

Regional office market economy also continued to be negative, but there are still considerable differences. The most marked recovery has taken place in Berlin and Hamburg, which each gained 0.5 points to -0.43 and -0.93 index points respectively. All other submarkets continue to show index levels below
-1 index points.

The full Q2 2021 report is available at pbbIX.com.

Notes to the editors:

The pbbIX (pbbix.com) index family comprises a composite index, as well as seven sub indices tracking the key German office property markets of Berlin, Cologne, Dusseldorf, Frankfurt/Main, Hamburg, Munich and Stuttgart, including their respective catchment areas.

pbbIX describes the development of the office markets. The zero line corre-sponds to the long-term trend. If the index is above the zero line, the office market is better than the long-term average. From a value of 1.0 points, one speaks of a boom.

The indices, which pbb publishes in cooperation with vdp Research, provide investors and lenders with comprehensive information on the current perfor-mance of office properties in Germany.

pbb Deutsche Pfandbriefbank (www.pfandbriefbank.com) is a specialist lender for commercial real estate finance and public investment finance in Europe and the United States of America.

Media Contact:
Walter Allwicher, +49 89 2880-28787, walter.allwicher(at)pfandbriefbank.com


Deutsche Pfandbriefbank AG published this content on 26 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2021 08:10:07 UTC.

ę Publicnow 2021
10/12DEUTSCHE PFANDBRIEFBANK : NorldLB gives a Neutral rating
10/11DEUTSCHE PFANDBRIEFBANK AG : Preliminary announcement of the publication of quarterly repo..
10/11DEUTSCHE PFANDBRIEFBANK : 11.10.2021 pbb offers green loans to real estate investors and d..
10/06DEUTSCHE PFANDBRIEFBANK : 06.10.2021 pbb and LBBW provide financing for Frankfurt data cen..
10/04DEUTSCHE PFANDBRIEFBANK : Kepler Cheuvreux remains its Buy rating
10/01DEUTSCHE PFANDBRIEFBANK : 01.10.2021 The management and supervisory boards of pbb want to ..
10/01DEUTSCHE PFANDBRIEFBANK AG : The management and supervisory boards of Deutsche Pfandbriefb..
10/01Deutsche Pfandbriefbank AG to Propose Further Dividend Payment for the Financial Year 2..
09/21DEUTSCHE PFANDBRIEFBANK : 20.09.2021 pbb provides Ç90mn for a logistics portfolio in Polan..
08/30DEUTSCHE PFANDBRIEFBANK : 30.08.2021 Allianz Global Investors GmbH, Frankfurt/Main, German..
More news
Analyst Recommendations on DEUTSCHE PFANDBRIEFBANK AG
More recommendations
Sales 2021 538 M 625 M 625 M
Net income 2021 142 M 164 M 164 M
Net Debt 2021 - - -
P/E ratio 2021 10,2x
Yield 2021 7,36%
Capitalization 1 399 M 1 622 M 1 622 M
Capi. / Sales 2021 2,60x
Capi. / Sales 2022 2,69x
Nbr of Employees 779
Free-Float 92,5%
Duration : Period :
Deutsche Pfandbriefbank AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DEUTSCHE PFANDBRIEFBANK AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 6
Last Close Price 10,40 €
Average target price 11,23 €
Spread / Average Target 8,01%
EPS Revisions
Managers and Directors
Andreas Arndt Chief Executive & Financial Officer
GŘnther Brńunig Chairman-Supervisory Board
Georg Kordick Member-Supervisory Board
Dagmar P. Kollmann Vice Chairman-Supervisory Board
Heike Thei▀ing Member-Supervisory Board