European Internationalization Strategy
The German real estate market has become a lot more professional over the last 20 years since measures were taken to liberalize it. Most European markets are still organized in a way that resembles the German market 20 years ago. The transfer of expertise is expected to result in professionalization in other European countries. Our experience and expertise as a leading German real estate company serves as a reference in order to generate added value by tapping into other European markets. The potential target markets include those that are not yet as professional as the German real estate market, and those that offer attractive overall conditions in terms of rental market growth and household growth.
Any activities on other European markets are performed by making targeted direct investments, such as in Austria and Sweden, but also, as an alternative, via high-profile and reliable joint venture partners in the first instance, which is the approach pursued on the French market. This will involve making contact with European partner companies, corresponding investors or political institutions in order to help accurately assess investment opportunities, cooperation options and opportunities for market entry. Vonovia will pursue its internationalization strategy as and when opportunities present themselves. Our activities on other European markets must not impact on our domestic business and must entail risk potential that can be controlled or limited.