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Vonovia is building 2,400 apartments in Germany, Austria and Sweden - financial expert analyzes the impact on the real estate market
According to a report from www.tagesspiegel.de, the housing company Vonovia completed more than 2,400 residential units in 2023, mainly in Germany, Austria and Sweden. The company expects to complete the same number of residential units this year. Vonovia rents out around 136,000 apartments in Berlin and 548,000 throughout Germany. However, a query from Tagesspiegel regarding the number of Vonovia apartments in Berlin remained unanswered because the company “does not break down the numbers from the report into cities and regions”. At the beginning of the year, 97 barrier-free and partly even barrier-free apartments were completed in Lichtenberg, adjacent to Storkower Straße. Last September, Vonovia boss Rolf...
Vonovia is building 2,400 apartments in Germany, Austria and Sweden - financial expert analyzes the impact on the real estate market
According to a report by www.tagesspiegel.de, the housing company Vonovia completed more than 2,400 residential units in 2023, primarily in Germany, Austria and Sweden. The company expects to complete the same number of residential units this year.
Vonovia rents out around 136,000 apartments in Berlin and 548,000 throughout Germany. However, a query from Tagesspiegel regarding the number of Vonovia apartments in Berlin remained unanswered because the company “does not break down the numbers from the report into cities and regions”. At the beginning of the year, 97 barrier-free and partly even barrier-free apartments were completed in Lichtenberg, adjacent to Storkower Straße.
Last September, Vonovia boss Rolf Buch announced that the company had put the construction of 60,000 apartments on hold because of high interest rates, high construction costs and the prospect of capping apartment rents. In fact, Vonovia did not necessarily build more in previous years: between 2019 and 2022, the number of rental apartments completed by Vonovia in Germany was always between 1,200 and 1,800, with a slight upward trend. In previous years there were significantly fewer than 1,000.
This information illustrates that, despite significant investments in housing, Vonovia faces challenges in expanding its real estate portfolio due to various economic and legal factors. The recent decision to put the construction of 60,000 apartments on hold, as well as the limited increase in completed apartments in recent years, could have an impact on the real estate market, as such a large player like Vonovia has a decisive influence on supply and demand. These factors should be kept in mind by real estate investors and market participants as they can impact housing prices and availability.
Read the source article at www.tagesspiegel.de