Bestensee
Bestensee

Targeted, moderate investments boost operating result

In 2017, TAG invested around EUR 71.9 million, equivalent to EUR 15.12 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 2017 2016 2015 2014
Maintenance 29.1 25.0 25.2 25.2
Capex 42.8 46.5 40.1 31.7
Total 71.9 71.5 65.3 56.9

Residential units

In EUR/sqm 2017 2016 2015 2014
Maintenance 5.41 5.41 5.73 5.75
Capex 10.00 10.00 9.42 7.62
Total 15.41 15.41 15.15 13.37

as of 12/31/2017