Gross quarterly residential mortgage lending in Europe 2019-2023, by country
The gross residential mortgage lending decreased across many European countries in the second quarter of 2023. In Germany, new lending fell from about 76 billion euros to 48 billion euros between the second quarter of 2022 and 2023. One of the main reasons was the worsening economic conditions and rising interest rates. Along with the United Kingdom and France, Germany is in the top three biggest markets, both in terms of gross mortgage lending and outstanding mortgage lending.