EPRA Vacancy Rate

The calculation of the is based on the ratio of the estimated market rent for the vacant residential properties to the estimated market rent of the residential property portfolio, i.e., the vacancy rate shown in the Rental chapter is valued based on the market rent for the residential properties.

The reduction in the EPRA vacancy rate from 2.5% in 2015 to 2.2% in 2016 reflects both the improved rental performance and effects resulting from portfolio adjustments and investments.

in € million


Dec. 31, 2016


Dec. 31, 2015


Change in %








Market rent of vacant apartments







Market rent of residential property portfolio







EPRA vacancy rate in %






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EPRA (European Public Real Estate Association)
The European Public Real Estate Association (EPRA) is a non-profit organization that has its registered headquarters in Brussels and represents the interests of listed European real estate companies. Its mission is to raise awareness of European listed real estate companies as a potential investment destination that offers an alternative to conventional investments. EPRA is a registered trademark of the European Public Real Estate Association.
Vacancy Rate
The vacancy rate is the number of empty units as a percentage of the total units owned by the company. The vacant units are counted at the end of each month.