Portfolio Information

Vonovia manages its own real estate portfolio with a fair value of € 47.8 billion as of September 30, 2019. The majority of our apartments are located in regions with positive economic and demographic development prospects.

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Portfolio Structure

Fair value*

September 30, 2019

(in € million)

(in €/m²)

Residential units

Vacancy (in %)

In-place rent (in €/m²)**

*	Fair value of the developed land excluding € 1,575.5 million, of which € 471.2 million for undeveloped land and inheritable building rights granted, € 392.5 million for assets under construction, € 514.4 million for development and € 197.4 million for other.
**	Shown based on the country-specific definition.

Strategic

37,072.2

1,802

323,641

2.7

6.70

Operate

9,313.1

1,794

75,209

2.5

6.96

Invest

27,759.1

1,805

248,432

2.8

6.62

Recurring Sales

3,737.8

1,927

28,321

3.3

6.84

Non-core Disposals

504.1

1,299

4,242

7.5

6.32

Vonovia Germany

41,314.1

1,804

356,204

2.8

6.71

Vonovia Austria

2,613.6

1,415

22,764

5.3

4.63

Vonovia Sweden

2,260.7

1,739

16,647

1.4

9.15

Total

46,188.4

1,773

395,615

2.9

6.69

In order to make the presentation of our portfolio more transparent, we also split our portfolio into 15 regional markets. These markets are core towns/cities and their surroundings, mainly metropolitan areas. Our decision to focus on the regional markets that are particularly relevant to Vonovia is our way of looking ahead to the future and provides an overview of our strategic core portfolio in Germany.

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Breakdown of Strategic Housing Stock by Regional Market

Fair value*

September 30, 2019

(in € million)

(in €/m²)

Residential units

Vacancy (in %)

In-place rent (in €/m²)**

*	Fair value of the developed land excluding € 1,575.5 million, of which € 471.2 million for undeveloped land and inheritable building rights granted, € 392.5 million for assets under construction, € 514.4 million for development and € 197.4 million for other.
**	Shown based on the country-specific definition.

Regional market

Berlin

7,201.6

2,601

42,029

1.5

6.78

Rhine Main Area

4,201.5

2,355

27,491

1.8

8.23

Southern Ruhr Area

3,646.2

1,349

43,405

3.6

6.09

Rhineland

3,633.6

1,852

28,784

2.5

7.16

Dresden

3,462.9

1,511

38,508

3.6

6.19

Hamburg

2,583.9

2,017

19,816

1.8

7.11

Munich

2,170.5

3,327

9,651

1.2

8.17

Kiel

2,064.0

1,481

23,372

2.3

6.29

Stuttgart

2,015.6

2,263

13,790

1.8

7.93

Hanover

1,790.9

1,709

16,297

3.1

6.64

Northern Ruhr Area

1,595.5

985

25,958

3.7

5.74

Bremen

1,150.4

1,555

11,856

3.7

5.81

Leipzig

913.7

1,470

9,188

4.1

6.05

Westphalia

878.8

1,409

9,494

3.4

6.09

Freiburg

635.7

2,281

4,039

1.9

7.40

Other strategic locations

2,689.7

1,546

26,783

3.6

6.69

Total strategic locations Germany

40,634.6

1,814

350,461

2.8

6.71

Total Housing Stock Vonovia – 395,615

Housing Stock by Regional Market – 350,461

(including 26,783 units at other strategic locations)

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.