An air-conditioning apparatus which is capable of achieving enhancement of the system COP while suppressing product cost. An air-conditioning apparatus 100 controls the difference between the temperatures of brine at a position before and at a position after an indoor heat exchanger 12 or at a position before and at a position after an intermediate heat exchanger 5 to be a preset target value and to be larger at the time of a heating operation than at the time of a cooling operation.
