In 2020, TAG invested around EUR 105.4 million in the maintenance and modernization of its portfolio β that means around EUR 21.55 per square metre - about half each in single unit and property based programmes. Each year, TAG modernises approx. 1,000 to 1,500 vacant apartments. The modernisation measures ensure long-term lets, contribute to dynamic rental growth, and thereby increase the value of the portfolio even without large-scale investment programs.
In EUR millions | 2020 | 2019 | 2018 | 2017 | 2016 |
---|---|---|---|---|---|
Maintenance | 35.0 | 33.3 | 34.3 | 29.1 | 25.0 |
Capex | 71.3 | 66.5 | 58.1 | 42.8 | 46.5 |
Total | 105.4 | 99.8 | 92.4 | 71.9 | 71.5 |
In EUR/sqm | 2020 | 2019 | 2018 | 2017 | 2016 |
---|---|---|---|---|---|
Maintenance | 6.96 | 6.82 | 7.11 | 6.24 | 5.41 |
Capex | 14.59 | 13.63 | 12.13 | 8.88 | 10.00 |
Total | 21.55 | 20.45 | 19.24 | 15.12 | 15.41 |
as of 12/31/2019