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 EPRA vacancy rate came to 2.3% at the end of 2017, virtually level with the prior-year value of 2.2%, with around 1 percentage point attributable to construction-related vacancies due to our extensive investment program.

in € million






Change in %








Market rent of vacant apartments







Market rent of residential property portfolio







EPRA vacancy rate in %






+0.1 pp

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.