Portfolio Information

Vonovia manages its own real estate portfolio with a fair value of € 85.8 billion as of September 30, 2026. The vast majority of our residential units are located in regions with positive economic and demographic development prospects. The fair value shown in the information below is the fair value of the developed land excluding € 3,892.9 million, of which € 897.2 million is for undeveloped land and inheritable building rights granted, € 612.5 million for assets under construction, € 2,049.8 million for development and € 333.4 million for other. The information on in-place rent is based on the country-specific definition.

Portfolio and FairValue by Country

Portfolio and Fair Value by Country

Fair value

Sep. 30, 2026

(in € million)

(in €/m²)

Residential units

Vacancy
(in %)

In-place rent (in €/m²)

Vonovia Germany

72,232.9

2,423

467,865

2.0

8.41

Vonovia Sweden

6,828.2

2,219

39,786

4.5

11.60

Vonovia Austria

2,796.0

1,732

19,837

4.8

5.87

Vonovia total

81,857.1

2,372

527,488

2.3

8.57

Portfolio Structure

Portfolio Structure

Fair value

Sep. 30, 2026

(in € million)

(in €/m²)

Residential units

Vacancy
(in %)

In-place rent (in €/m²)

Strategic

72,800.5

2,454

466,111

2.0

8.71

Germany

66,745.4

2,462

432,144

1.8

8.45

Urban Quarters

50,842.2

2,462

334,148

1.7

8.36

Urban Clusters

15,903.2

2,462

97,996

2.2

8.74

Sweden

6,055.2

2,365

33,967

4.0

11.67

Recurring Sales

6,528.7

2,087

41,953

4.1

7.15

Germany

3,732.8

2,465

22,116

3.4

8.41

Austria

2,796.0

1,732

19,837

4.8

5.87

Non Core

2,527.8

1,481

19,424

6.2

8.43

Germany

1,754.8

1,474

13,605

5.6

7.18

Sweden

773.1

1,496

5,819

7.5

11.14

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, 2026

(in € million)

(in €/m²)

Residential units

Vacancy
(in %)

In-place rent (in €/m²)

Regional market

Berlin

23,506.0

2,773

137,842

0.8

8.40

Rhine Main Area

6,559.5

2,948

34,557

2.2

10.31

Southern Ruhr Area

5,558.3

2,103

42,334

2.8

7.80

Rhineland

5,302.5

2,517

31,302

1.9

8.90

Dresden

5,108.9

2,070

39,806

2.1

7.53

Hamburg

3,247.7

2,706

18,741

1.3

8.86

Hanover

3,032.3

2,115

22,185

3.6

8.13

Munich

2,912.0

4,101

10,568

1.1

10.87

Kiel

2,754.3

1,915

24,433

2.2

8.25

Stuttgart

2,287.1

2,745

12,942

2.9

9.67

Leipzig

2,195.4

2,061

14,943

2.1

7.52

Northern Ruhr Area

2,047.9

1,453

22,694

2.9

7.05

Bremen

1,477.8

2,026

11,767

2.5

7.42

Westphalia

1,176.6

1,964

9,104

2.9

7.78

Freiburg

759.1

2,877

3,758

1.0

9.33

Other strategic locations

3,497.2

2,032

26,662

3.5

8.23

Total strategic locations Germany

71,422.5

2,436

463,638

2.0

8.41