Like-for-like Rent Increases

The following tables provide an overview of the like-for-like rent increases in the company’s residential property portfolio.

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Residential in-place rent like-for-like*

Dec. 31, 2018

 

Residential
units

 

Living area (in thou. m2)

 

Residential in-place rent (p.a. in € million)

 

Dec. 31, 2017 (in €/m2)

 

Dec. 31, 2018 (in €/m2)

 

Change
(in %)

*

The underlying portfolio has a of € 36,455.8 million.

 

 

 

 

 

 

 

 

 

 

 

 

 

Strategic

 

300,452

 

18,605

 

1,433.1

 

6.30

 

6.57

 

4.3%

Operate

 

68,402

 

4,312

 

341.3

 

6.44

 

6.84

 

6.1%

Invest

 

232,050

 

14,292

 

1,091.8

 

6.26

 

6.49

 

3.7%

 

29,130

 

1,957

 

152.6

 

6.45

 

6.69

 

3.7%

 

3,532

 

254

 

16.9

 

5.98

 

6.01

 

0.5%

Vonovia Germany

 

333,114

 

20,816

 

1,602.5

 

6.31

 

6.57

 

4.2%

Vonovia Austria

 

2,030

 

140

 

10.8

 

6.56

 

6.70

 

2.2%

Total

 

335,144

 

20,955

 

1,613.3

 

6.31

 

6.58

 

4.2%

(XLS:) Download

 

 

 

 

 

 

 

 

Residential in-place rent like-for-like*

Regional market

 

Residential
units

 

Living area (in thou. m2)

 

Residential in-place rent (p.a. in € million)

 

Dec. 31, 2017 (in €/m2)

 

Dec. 31, 2018 (in €/m2)

 

Change
(in %)

*

The underlying portfolio has a fair value of € 35,939.5 million.

 

 

 

 

 

 

 

 

 

 

 

 

 

Berlin

 

38,476

 

2,434

 

190.2

 

6.35

 

6.60

 

4.0%

Rhine Main Area

 

27,371

 

1,756

 

167.1

 

7.71

 

8.04

 

4.3%

Rhineland

 

28,829

 

1,914

 

157.2

 

6.77

 

7.02

 

3.6%

Southern Ruhr Area

 

43,361

 

2,651

 

182.4

 

5.64

 

5.92

 

5.1%

Dresden

 

38,381

 

2,182

 

153.0

 

5.79

 

6.02

 

3.9%

Hamburg

 

16,257

 

1,025

 

86.4

 

6.85

 

7.12

 

3.9%

Munich

 

9,646

 

635

 

60.7

 

7.72

 

8.03

 

4.0%

Stuttgart

 

13,835

 

870

 

79.8

 

7.53

 

7.78

 

3.2%

Northern Ruhr Area

 

26,257

 

1,622

 

106.1

 

5.38

 

5.63

 

4.6%

Hanover

 

14,543

 

924

 

70.1

 

6.21

 

6.51

 

4.9%

Kiel

 

13,626

 

791

 

56.8

 

5.81

 

6.08

 

4.7%

Bremen

 

11,635

 

702

 

45.8

 

5.44

 

5.63

 

3.6%

Leipzig

 

9,156

 

587

 

40.9

 

5.74

 

5.96

 

3.9%

Westphalia

 

9,465

 

613

 

42.3

 

5.64

 

5.94

 

5.5%

Freiburg

 

4,036

 

276

 

23.9

 

6.99

 

7.31

 

4.6%

Other strategic locations

 

23,040

 

1,455

 

113.6

 

6.41

 

6.70

 

4.5%

Total strategic locations Germany

 

327,914

 

20,438

 

1,576.3

 

6.31

 

6.58

 

4.2%

Austria

 

2,030

 

140

 

10.8

 

6.56

 

6.70

 

2.2%

Total strategic locations

 

329,944

 

20,578

 

1,587.1

 

6.32

 

6.58

 

4.2%
Fair Value
Valuation pursuant to IAS 40 in conjunction with IFRS 13. The estimated value of an asset. The fair value is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm’s length transaction.
Recurring Sales
The Recurring Sales segment (formerly part of the “Sales” segment) includes the regular and sustainable disposals of individual condominiums from our portfolio. It does not include the sale of entire buildings or land (Non-core disposals). These properties are only sold as and when the right opportunities present themselves, meaning that the sales do not form part of our operating business within the narrower sense of the term. Therefore, these sales will be reported under “Other” in our segment reporting.
Non-core Disposals
We also report the Other segment, which is not relevant from a corporate management perspective, in our segment reporting. This includes the sale, only as and when the right opportunities present themselves, of entire buildings or land (Non-core Disposals) that are likely to have below-average development potential in terms of rent growth in the medium term and are located in areas that can be described as peripheral compared with Vonovia’s overall portfolio and in view of future acquisitions.