Vonovia increases profit significantly – and sees a turnaround in the real estate market

Vonovia

The Bochum-based Dax group wants to part with apartments and get investors on board for individual projects.

(Photo: IMAGO/Ina Fassbender)

Frankfurt The Dax group Vonovia sees the German real estate market before a trend reversal. “The time of high increases in value is over,” said CEO Rolf Buch when presenting the quarterly figures on Friday. “We will now see spikes around the zero line.”

Nevertheless, the largest real estate group in Germany renewed its profit forecast for the current year and expects a largely stable development for the 2023 financial year.

Vonovia earned significantly more in the first nine months of the current year. The profit from the operating business (Group FFO) – the key figure for real estate companies – increased by 35 percent to 1.6 billion euros due to the takeover of the smaller competitor Deutsche Wohnen, rising rents and a low vacancy rate. The group would help tenants who got into trouble in winter because of rising energy prices if they got in touch, Buch promised.

Read on now

Get access to this and every other article in the

Web and in our app free of charge for 4 weeks.

Continue

Read on now

Get access to this and every other article in the

Web and in our app free of charge for 4 weeks.

Continue

source site-16