Bestensee

Targeted, moderate investments boost operating result

In 2020, TAG invested around EUR 105.4 million in the maintenance and modernization of its portfolio – 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.

Total portfolio

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

Residential units

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