Bestensee
Bestensee

Targeted, moderate investments boost operating result

In 2018, TAG invested around EUR 92.4 million, equivalent to EUR 19.24 per square meter, 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 2018 2017 2016 2015
Maintenance 34.3 29.1 25.0 25.2
Capex 58.1 42.8 46.5 40.1
Total 92.4 71.9 71.5 65.3

Residential units

In EUR/sqm 2018 2017 2016 2015
Maintenance 7.11 6.24 5.41 5.73
Capex 12.13 8.88 10.00 9.42
Total 19.24 15.12 15.41 15.15

as of 12/31/2018