The property price index of the Association of German Pfandbrief Banks (vdp) continued on its upward trajectory in the first quarter of 2020, climbing to a new historical high. Compared with the corresponding quarter in 2019, the index, which is calculated for the German market as a whole based on real transaction data, advanced to 165.1 points in the first quarter of 2020 (base year 2010 = 100 points). Thus, the transaction figures show that the COVID-19 pandemic did not yet have any discernible impact on the property market.