Targeted, moderate investments boost operating result
In 2019, TAG invested around EUR 100.0 million in the maintenance and modernization of its portfolio – 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 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|
| Maintenance | 33.3 | 34.3 | 29.1 | 25.0 |
| Capex | 66.7 | 58.1 | 42.8 | 46.5 |
| Total | 100.0 | 92.4 | 71.9 | 71.5 |
Residential units
| In EUR/sqm | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|
| Maintenance | 6.82 | 7.11 | 6.24 | 5.41 |
| Capex | 13.63 | 12.13 | 8.88 | 10.00 |
| Total | 20.45 | 19.24 | 15.12 | 15.41 |
as of 12/31/2019