Interim Statement Q3 2020

Service

Portfolio Information

Vonovia manages its own real estate portfolio with a fair value of € 56.0 billion as of September 30, 2020. The vast majority of our apartments are located in regions with positive economic and demographic development prospects.

Portfolio Structure

 

Fair value*

 

 

Sep. 30, 2020

(in € million)

(in €/m2)

Residential units

Vacancy (in %)

In-place rent
(in €/m2)**

 

 

 

 

 

 

Strategic

41,177.6

2,000

323,734

2.5

6.91

Operate

11,653.1

2,006

85,558

2.4

7.29

Invest

29,524.6

1,998

238,176

2.5

6.77

Recurring Sales

3,885.8

2,121

26,812

3.0

7.01

Non-core Disposals

425.5

1,536

3,473

5.3

6.60

Vonovia Germany

45,488.9

2,004

354,019

2.5

6.91

Vonovia Sweden

5,715.9

1,922

38,191

2.3

9.67

Vonovia Austria

2,755.6

1,508

22,360

4.3

4.76

Total

53,960.4

1,962

414,570

2.6

7.07

*

Fair value of the developed land excluding € 2,088.4 million, of which € 610.7 million for undeveloped land and inheritable building rights granted, € 404.6 million for assets under construction, € 669.8 million for development and € 403.3 million for other.

** 

Shown based on the country-specific definition.

In order to boost transparency in portfolio presentation, we also break our portfolio down into 15 regional markets. These markets are core towns/cities and their surroundings, mainly urban 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.

Breakdown of Strategic Housing Stock by Regional Market

 

Fair value*

 

 

Sep. 30, 2020

(in € million)

(in €/m2)

Residential units

Vacancy (in %)

In-place rent
(in €/m2)**

 

 

 

 

 

 

Regional market

 

 

 

 

 

Berlin

7,618.5

2,725

42,429

1.2

6.91

Rhine Main Area

4,671.5

2,626

27,390

1.9

8.47

Southern Ruhr Area

4,227.0

1,560

43,426

3.0

6.36

Rhineland

4,010.7

2,069

28,453

2.2

7.39

Dresden

3,924.6

1,711

38,505

3.4

6.30

Hamburg

2,924.8

2,283

19,744

1.5

7.35

Munich

2,368.0

3,627

9,665

1.5

8.38

Kiel

2,294.6

1,663

23,219

2.2

6.53

Stuttgart

2,196.4

2,521

13,615

1.8

8.09

Hanover

2,000.9

1,914

16,228

2.5

6.86

Northern Ruhr Area

1,749.1

1,103

25,383

3.1

5.94

Bremen

1,291.3

1,742

11,852

3.4

6.04

Leipzig

1,004.5

1,630

9,102

3.4

6.17

Westphalia

973.0

1,555

9,481

3.4

6.45

Freiburg

676.7

2,425

4,040

2.2

7.63

Other Strategic Locations

2,970.5

1,717

26,757

3.4

6.91

Total Strategic Locations Germany

44,902.0

2,011

349,289

2.5

6.92

*

Fair value of the developed land excluding € 2,088.4 million, of which € 610.7 million for undeveloped land and inheritable building rights granted, € 404.6 million for assets under construction, € 669.8 million for development and € 403.3 million for other.

** 

Shown based on the country-specific definition.

Fair Value
Fair value is particularly relevant with regard to valuation in accordance with IAS 40 in conjunction with IFRS 13. The fair value is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm’s length transaction.