DIFI Report by ZEW and JLL Released: Euphoria Has Worn off
ResearchThe German Real Estate Finance Index (DIFI) has decreased by 23.5 points in the third quarter of 2015 to a current reading of 6.2 points. This is the indicator's lowest level since the end of 2012. The significant quarter-on-quarter loss is attributable to a less favourable assessment of the financing situation in the past six months. In addition, experts' optimism in regard to financing expectations has somewhat decreased. A clear majority of experts, however, assess both the situation and the outlook as unchanged.
These are the key findings of the DIFI Report, a quarterly survey on the real estate financing market by ZEW in cooperation with JLL.
The German Real Estate Finance Index (DIFI)
The German Real Estate Finance Index (DIFI) represents the situation (including the previous six months) and expectations of the participants in the survey concerning the real estate financing market on a six-month horizon. It is conducted on a quarterly basis and calculated as the average value of the balances between the following four segments: office, retail, logistics and residential properties. The balances of the segments reflect the difference between the percentage of participants who are optimistic and the percentage of participants who are pessimistic about the development of the financing conditions on the German real estate financing market. The DIFI is a survey conducted and published by Jones Lang LaSalle (JLL) and the Centre for European Economic Research (ZEW). 46 experts participated in the August 2015 survey.
