Portfolio Information

Vonovia manages its own real estate portfolio with a fair value of € 82.3 billion as of March 31, 2025. The vast majority of our residential units are located in regions with positive economic and demographic development prospects.

Portfolio Structure

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

Strategic	63,538.6	2,316	438,030	1.7	7.99
Urban Quarters	48,022.7	2,314	336,185	1.6	7.89
Urban Clusters	15,515.8	2,321	101,845	2.0	8.30
Recurring Sales	3,841.3	2,309	23,645	2.9	7.80
Non Core	1,612.8	1,475	12,896	4.9	7.09
Vonovia Germany	68,992.6	2,285	474,571	1.8	7.96
Vonovia Sweden	6,792.8	2,216	39,646	4.3	11.49
Vonovia Austria	2,662.8	1,607	20,349	4.4	5.72
Vonovia total	78,448.1	2,247	534,566	2.1	8.15

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*
	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Regional market
Berlin	22,782.6	2,678	138,372	0.8	8.00
Rhine Main Area	6,445.1	2,784	35,825	2.2	9.80
Southern Ruhr Area	5,107.0	1,909	42,808	2.4	7.37
Rhineland	5,001.9	2,377	31,233	1.9	8.43
Dresden	4,950.7	1,860	43,298	2.2	7.02
Hamburg	3,215.3	2,513	19,998	1.3	8.39
Hanover	2,813.9	1,980	21,975	2.4	7.76
Kiel	2,674.1	1,822	24,854	1.7	7.70
Munich	2,619.6	3,821	10,323	1.1	9.92
Stuttgart	2,219.1	2,638	13,084	1.6	9.14
Leipzig	2,044.3	1,951	14,758	2.9	6.96
Northern Ruhr Area	1,987.5	1,325	24,095	2.7	6.72
Bremen	1,390.1	1,929	11,627	2.2	6.98
Westphalia	1,109.1	1,791	9,402	2.7	7.45
Freiburg	731.3	2,723	3,840	0.8	8.85
Other strategic locations	3,293.0	1,903	26,877	3.5	7.82
Total strategic locations Germany	68,384.5	2,291	472,369	1.8	7.96

*Fair value of the developed land excluding € 3,883.5 million, of which € 902.2 million for undeveloped land and inheritable building rights granted, € 376.5 million for assets under construction, € 1,819.5 million for development, € 362.6 million for nursing care properties (discontinued operations) and € 422.7 million for other.
**Based on the country-specific definition.