Portfolio Information

Vonovia manages its own real estate portfolio with a fair value of € 59.0 billion as of March 31, 2021. The vast majority of our apartments are located in regions with positive economic and demographic development prospects.

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Portfolio Structure

Fair value*

Mar. 31, 2021

(in € million)

(in €/m²)

Residential units

Vacancy (in %)

In-place rent
(in €/m²)**

Strategic

43,757.2

2,100

327,680

2.6

6.97

Operate

14,791.0

2,082

106,957

2.8

7.31

Invest

28,966.2

2,110

220,723

2.5

6.80

Recurring Sales

3,908.4

2,255

25,402

3.2

7.11

Non-core Disposals

174.0

1,216

1,349

10.3

7.53

Vonovia Germany

47,839.7

2,107

354,431

2.6

6.98

Vonovia Sweden

6,098.6

2,046

38,331

2.5

10.18

Vonovia Austria

2,805.7

1,569

21,953

5.0

4.79

Total

56,744.0

2,065

414,715

2.8

7.18

*	Fair value of the developed land excluding € 2.240,6 million, of which € 630,1 million for undeveloped land and inheritable building rights granted, € 426,7 million for assets under construction, € 834,0 million for development and € 349,8 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. With a focus on those regional markets that are particularly relevant for Vonovia we take a forward-looking approach and give an overview of our strategic core portfolio in Germany.

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Breakdown of Strategic Housing Stock by Regional Market

Fair value*

Mar. 31, 2021

(in € million)

(in €/m²)

Residential units

Vacancy (in %)

In-place rent
(in €/m²)**

Regional market

Berlin

7,841.2

2,747

43,296

1.3

6.63

Rhine Main Area

4,926.6

2,789

27,176

2.0

8.62

Southern Ruhr Area

4,482.8

1,665

43,125

3.4

6.49

Rhineland

4,209.7

2,181

28,326

2.4

7.50

Dresden

4,054.5

1,769

38,471

3.8

6.36

Hamburg

3,091.0

2,421

19,677

1.7

7.50

Kiel

2,545.2

1,781

24,272

2.3

6.68

Munich

2,502.0

3,822

9,694

1.1

8.53

Stuttgart

2,318.5

2,671

13,582

1.7

8.19

Hanover

2,060.6

1,977

16,178

2.6

6.98

Northern Ruhr Area

1,896.7

1,218

24,970

3.2

6.02

Bremen

1,325.2

1,802

11,842

3.3

6.13

Leipzig

1,051.1

1,703

9,093

3.3

6.26

Westphalia

1,031.3

1,649

9,467

3.3

6.59

Freiburg

698.3

2,506

4,034

1.3

7.72

Other strategic locations

3,208.2

1,870

26,572

3.3

7.08

Total strategic locations Germany

47,243.0

2,115

349,775

2.6

6.99

*	Fair value of the developed land excluding € 2,240.6 million, of which € 630.1 million for undeveloped land and inheritable building rights granted, € 426.7 million for assets under construction, € 834.0 million for development and € 349.8 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.