Portfolio Information

Vonovia manages its own real estate portfolio with a fair value of € 84.7 billion as of March 31, 2026. 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, 2026	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Strategic	65,439.1	2,412	432,375	1.8	8.30
Urban Quarters	49,777.0	2,411	334,062	1.7	8.20
Urban Clusters	15,662.2	2,417	98,313	2.2	8.62
Recurring Sales	3,770.2	2,438	22,551	2.8	8.28
Non Core	1,924.3	1,451	15,860	4.8	7.07
Vonovia Germany	71,133.7	2,371	470,786	1.9	8.26
Vonovia Sweden	6,991.2	2,272	39,787	5.0	11.96
Vonovia Austria	2,756.9	1,699	19,933	4.5	5.84
Vonovia total	80,881.8	2,331	530,506	2.3	8.46

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, 2026	(in € million)	(in €/m²)	Residential units	Vacancy (in %)	In-place rent (in €/m²)**

Regional market
Berlin	23,242.7	2,733	138,245	0.8	8.23
Rhine Main Area	6,417.2	2,877	34,623	2.2	10.19
Southern Ruhr Area	5,371.0	2,022	42,533	2.6	7.68
Rhineland	5,240.6	2,482	31,369	2.0	8.76
Dresden	5,072.2	1,984	41,531	2.1	7.41
Hamburg	3,163.9	2,634	18,743	1.3	8.66
Hanover	2,964.9	2,067	22,197	3.3	8.01
Munich	2,870.2	4,040	10,572	1.1	10.57
Kiel	2,736.1	1,885	24,567	2.2	8.09
Stuttgart	2,258.4	2,709	12,951	2.7	9.50
Leipzig	2,166.1	2,018	14,977	3.0	7.39
Northern Ruhr Area	2,026.8	1,424	22,849	2.8	6.91
Bremen	1,443.6	1,976	11,787	2.2	7.27
Westphalia	1,146.1	1,913	9,109	3.1	7.71
Freiburg	745.8	2,822	3,765	1.1	9.16
Other strategic Locations	3,425.7	1,989	26,648	3.3	8.09
Total strategic locations Germany	70,291.4	2,383	466,466	1.9	8.26

*Fair value of the developed land excluding € 3,816.4 million, of which € 995.6 million for undeveloped land and inheritable building rights granted, € 436.2 million for assets under construction, € 1,967.6 million for development and € 417.0 million for other.
**Based on the country-specific definition.