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Real estate: Deutsche Wohnen earns more thanks to higher rents

Higher rents, higher profits: Germany’s second largest real estate group earned more in the first half of 2021.

The real estate group Deutsche Wohnen benefited from higher rents in the first six months.

In the first half of the year, contract rents rose by 0.9 percent year-on-year to 425.8 million euros, as the Dax company announced on Friday in Berlin. The contract rent in the entire portfolio rose by 3.2 percent to an average of 7.15 euros per square meter.

The operating profit (Funds from Operations 1, FFO1 for short) grew in the first six months by two percent to 291.4 million euros. For the current year, the competitor of Vonovia, LEG Immobilien and TAG Immobilien continues to expect an operating profit at about the level of the previous year.

The focus is primarily on the planned takeover by competitor Vonovia. Vonovia recently started a new attempt to buy Germany’s second largest landlord, Deutsche Wohnen. The boss of the market leader Vonovia, Rolf Buch, announced an improved offer – just a week after many of the shareholders of Deutsche Wohnen gave him the cold shoulder. Vonovia has already received the green light from the financial supervisory authority Bafin.

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