Portfolio Information

Vonovia manages its own real estate portfolio with a market value of € 88.7 billion as of September 30, 2023. The vast majority of our apartments are located in regions with positive economic and demographic development prospects.

Portfolio Structure

Portfolio Structure
	Fair value*
Sep. 30, 2023	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Strategic	63,185.7	2,401	421,896	1.8	7.51
Urban Quarters	51,560.1	2,460	339,911	1.7	7.51
Urban Clusters	11,625.6	2,169	81,985	2.3	7.54
Recurring Sales	4,728.7	2,419	27,929	2.7	7.47
MFH Sales	5,376.9	3,489	23,143	1.4	9.45
Non Core	1,583.5	1,500	13,985	4.1	6.61
Vonovia Germany	74,874.7	2,425	486,953	1.9	7.58
Vonovia Sweden	6,350.5	2,071	39,628	3.5	9.78
Vonovia Austria	2,925.2	1,686	21,417	4.7	5.42
Vonovia total	84,150.5	2,359	547,998	2.1	7.67

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

Breakdown of Strategic Housing Stock by Regional Market
	Fair value*
Sep 30, 2023	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Regional market
Berlin	25,604.4	2,879	143,942	1.0	7.57
Rhine Main Area	6,951.1	2,934	36,575	2.8	9.28
Dresden	5,381.7	1,955	45,017	2.4	6.79
Southern Ruhr Area	5,314.1	1,969	43,018	2.6	7.05
Rhineland	5,246.7	2,455	31,659	1.9	8.14
Hamburg	3,436.2	2,665	20,117	1.0	8.02
Munich	3,096.5	4,241	10,856	1.5	9.67
Hanover	3,041.4	2,109	22,087	2.1	7.40
Kiel	2,887.3	1,925	25,323	2.1	7.34
Stuttgart	2,397.0	2,805	13,335	1.6	8.84
Northern Ruhr Area	2,129.7	1,399	24,443	2.6	6.41
Leipzig	2,015.7	1,994	14,267	3.0	6.56
Bremen	1,496.7	2,046	11,732	1.5	6.64
Westphalia	1,139.4	1,826	9,438	2.1	7.05
Freiburg	749.5	2,702	4,033	1.1	8.39
Other Strategic Locations	3,549.1	1,991	27,568	3.1	7.43
Total strategic locations Germany	74,436.4	2,431	483,410	1.9	7.59

*Fair value of the developed land excluding € 4,543.2 million, of which € 510.4 million for undeveloped land and inheritable building rights granted, € 228.3 million for assets under construction, € 2,316.5 million for development, € 1,084.4 million for nursing portfolio and € 403.6 million for other.
**Based on the country-specific definition.