Portfolio Information

Vonovia manages its own real estate portfolio with a market value of € 83.7 billion as of March 31, 2024. The vast majority of our residential units are located in regions with positive economic and demographic development prospects.

Portfolio Structure

Portfolio Structure
	Fair value*
Mar. 31, 2024	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Strategic	59,984.4	2,285	420,758	1.8	7.61
Urban Quarters	49,080.8	2,339	340,098	1.7	7.59
Urban Clusters	10,903.6	2,069	80,660	2.2	7.67
Recurring Sales	4,336.0	2,326	26,656	2.8	7.55
MFH Sales	4,781.2	3,233	22,413	1.3	9.32
Non Core	1,684.8	1,515	12,819	4.9	6.81
Vonovia Germany	70,786.5	2,305	482,646	1.9	7.67
Vonovia Sweden	6,179.1	2,016	39,631	4.2	10.21
Vonovia Austria	2,765.8	1,614	21,150	4.9	5.51
Vonovia total	79,731.4	2,247	543,427	2.2	7.78

In order to boost the level of transparency in the presentation of our portfolio, we also break our portfolio down into 15 regional markets. These markets are core towns/cities and their surroundings, the majority of which are 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*
Mar. 31, 2024	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Regional market
Berlin	23,941.8	2,714	143,150	0.8	7.64
Rhine Main Area	6,636.0	2,800	36,485	2.5	9.38
Southern Ruhr Area	5,189.4	1,926	42,953	2.7	7.14
Rhineland	5,072.1	2,367	31,511	2.0	8.21
Dresden	4,929.0	1,861	43,311	2.6	6.86
Hamburg	3,247.6	2,510	20,099	1.4	8.13
Hanover	2,874.4	2,009	22,071	2.2	7.49
Kiel	2,772.0	1,865	25,139	1.8	7.45
Munich	2,746.5	3,889	10,522	1.4	9.59
Stuttgart	2,258.2	2,639	13,225	1.7	8.92
Northern Ruhr Area	2,047.9	1,351	24,345	2.5	6.49
Leipzig	1,873.6	1,868	14,220	2.9	6.68
Bremen	1,438.6	1,973	11,697	1.9	6.71
Westphalia	1,090.8	1,760	9,417	2.3	7.22
Freiburg	726.0	2,646	3,850	0.8	8.57
Other strategic Locations	3,437.3	1,903	27,454	3.1	7.53
Total strategic locations Germany	70,281.2	2,312	479,449	1.9	7.67

*Fair value of the developed land excluding € 3,932.5 million, of which € 489.0 million for undeveloped land and inheritable building rights granted, € 250.9 million for assets under construction, € 2,163.5 million for development, € 630.1 million for nursing portfolio (discontinued operations) and € 399.0 million for other.
**Based on the country-specific definition.