Portfolio Information

Vonovia manages its own real estate portfolio with a fair value of € 82.6 billion as of September 30, 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*
Sep. 30, 2024	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Strategic	59,361.6	2,257	421,453	1.7	7.75
Urban Quarters	48,494.2	2,308	340,592	1.6	7.74
Urban Clusters	10,867.4	2,055	80,861	2.2	7.82
Recurring Sales	4,151.1	2,297	25,796	2.9	7.67
MFH Sales	4,672.8	3,190	22,231	1.4	9.45
Non Core	1,476.9	1,474	11,582	5.5	6.92
Vonovia Germany	69,662.4	2,278	481,062	1.8	7.81
Vonovia Sweden	6,311.4	2,059	39,640	4.5	10.59
Vonovia Austria	2,703.5	1,594	20,917	4.6	5.69
Vonovia total	78,677.3	2,226	541,619	2.1	7.94

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*
Sep. 30, 2024	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Regional market
Berlin	23,515.3	2,669	143,007	0.8	7.77
Rhine Main Area	6,491.8	2,758	36,364	2.4	9.63
Southern Ruhr Area	5,102.0	1,894	42,928	2.5	7.24
Rhineland	5,017.1	2,349	31,409	1.9	8.34
Dresden	4,915.2	1,843	43,588	2.2	6.95
Hamburg	3,205.7	2,478	20,089	1.5	8.33
Hanover	2,773.3	1,940	22,058	2.4	7.61
Kiel	2,750.6	1,856	25,077	1.7	7.60
Munich	2,695.2	3,873	10,380	1.2	9.74
Stuttgart	2,238.7	2,628	13,140	1.9	9.04
Northern Ruhr Area	2,022.9	1,339	24,270	2.8	6.63
Leipzig	1,910.4	1,901	14,370	2.9	6.83
Bremen	1,405.5	1,932	11,667	2.3	6.92
Westphalia	1,099.2	1,774	9,408	2.5	7.35
Freiburg	725.2	2,644	3,849	1.0	8.73
Other strategic locations	3,347.4	1,889	27,087	3.3	7.69
Total strategic locations Germany	69,215.6	2,283	478,691	1.8	7.81

*Fair value of the developed land excluding € 3,959.1 million, of which € 462.6 million for undeveloped land and inheritable building rights granted, € 248.9 million for assets under construction, € 2,293.3 million for development, € 537.3 million for Care portfolio (discontinued operations) and € 417.0 million for other.
**Based on the country-specific definition.