Portfolio Information

Vonovia manages its own real estate portfolio with a fair value of € 83.2 billion as of September 30, 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*
Sep. 30, 2025	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Strategic	64,621.0	2,351	438,420	1.7	8.14
Urban Quarters	48,634.5	2,343	336,083	1.6	8.04
Urban Clusters	15,986.5	2,376	102,337	2.0	8.47
Recurring Sales	3,799.8	2,342	23,016	3.1	7.92
Non Core	1,514.5	1,478	11,309	4.6	7.33
Vonovia Germany	69,935.3	2,321	472,745	1.9	8.11
Vonovia Sweden	6,782.5	2,213	39,658	4.6	11.41
Vonovia Austria	2,726.2	1,663	20,155	4.6	5.78
Vonovia total	79,443.9	2,280	532,558	2.2	8.28

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.

Portfolio and Fair Value by Country

Breakdown of Strategic Housing Stock by Regional Market
	Fair value*
Sep. 30, 2025	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Regional market
Berlin	22,793.8	2,676	138,442	0.8	8.12
Rhine Main Area	6,429.0	2,819	35,199	2.2	9.96
Southern Ruhr Area	5,252.1	1,971	42,684	2.4	7.53
Rhineland	5,148.0	2,452	31,151	1.8	8.63
Dresden	5,034.3	1,930	42,272	2.1	7.32
Hamburg	3,246.0	2,537	19,997	1.4	8.48
Hanover	2,887.4	2,032	21,974	3.0	7.87
Munich	2,750.2	3,884	10,504	0.9	10.29
Kiel	2,700.5	1,842	24,831	2.0	7.91
Stuttgart	2,256.2	2,674	13,069	1.9	9.36
Leipzig	2,136.2	1,988	14,990	2.9	7.14
Northern Ruhr Area	2,053.3	1,382	23,879	2.6	6.80
Bremen	1,405.1	1,952	11,611	2.5	7.09
Westphalia	1,134.9	1,835	9,391	2.7	7.51
Freiburg	746.5	2,788	3,830	0.9	9.03
Other strategic locations	3,359.9	1,942	26,758	3.4	7.93
Total strategic locations Germany	69,333.5	2,328	470,582	1.8	8.12

*Fair value of the developed land excluding € 3,738.6 million, of which € 451.8 million for undeveloped land and inheritable building rights granted, € 959.7 million for assets under construction, € 1,882.9 million for development, € 10.7 million for nursing care properties (discontinued operations) and € 433.6 million for other.
**Based on the country-specific definition.