Bestensee
Bestensee

Targeted, moderate investments boost operating result

In 2023, TAG invested around EUR 125.8 million in the maintenance and modernization of its portfolio – that means around EUR 25.21 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 2023 2022 2021 2020 2019
Maintenance 39.7 37.1 38.8 35.0 33.3
Capex 86.1 86.6 68.1 71.3 66.5
Total 125.8 123.7 106.9 105.4 99.8

Residential units

In EUR/sqm 2023 2022 2021 2020 2019
Maintenance 7.73 7.35 7.57 6.96 6.82
Capex 17.48 17.20 13.35 14.59 13.63
Total 25.21 24.55 20.92 21.55 20.45

as of 12/31/2023