Share Price Development

In the 2016 fiscal year, Vonovia’s share price rose by approx. 8.2%, climbing from a closing price of € 28.55 on December 31, 2015 to a closing price of € 30.91 on December 30, 2016. During the same period, the DAX increased by around 6.9%, from 10,743 points on December 31, 2015 to 11,481 points.

Especially in the first eight months of 2016, Vonovia’s share benefited from the low interest rate environment described above, and from the high demand for German real estate stocks. As a result, Vonovia’s shares reached a new all-time high of € 37.00 in August 2016.

Towards the end of 2016, Vonovia’s share price, together with virtually all European real estate shares, was on a downward trend, which we believe is due, in particular, to a shift among some investors towards less defensive stocks and to a general correction after the previous all-time high.

Irrespective of the dip in the price of Vonovia’s shares in the interim, the environment – which is characterized by an imbalance between high demand for, and a short supply of, affordable housing in urban locations; the ongoing environment of low interest rates and a continued keen interest in our sector – remains positive.

Share Price Performance of Vonovia’s Shares

Share Price Performance of Vonovia’s Shares (graph)Share Price Performance of Vonovia’s Shares (graph)