Information on investment real estate
City of Zurich | Rest of Canton of Zurich | Other regions | Total real estate | |||||||||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | |||||||||||
Residential real estate | ||||||||||||||||||
Number | 6 | 6 | 10 | 10 | 4 | 4 | 20 | 20 | ||||||||||
Living space | ’000 m2 | 22 | 22 | 86 | 86 | 18 | 18 | 126 | 126 | |||||||||
Vacancy rate1 | % | 2.1 | 4.7 | 1.3 | 1.6 | 2.0 | 1.8 | 1.6 | 2.4 | |||||||||
Rental income | CHF million | 8.1 | 7.3 | 20.5 | 20.4 | 5.0 | 5.0 | 33.6 | 32.7 | |||||||||
Earnings on property2 | CHF million | 6.6 | 6.4 | 16.6 | 17.9 | 4.1 | 4.1 | 27.3 | 28.4 | |||||||||
Gross return | % | 3.9 | 4.2 | 4.1 | 4.4 | 4.7 | 4.9 | 4.2 | 4.4 | |||||||||
Net yield3 | % | 3.2 | 3.7 | 3.4 | 3.9 | 3.9 | 4.0 | 3.4 | 3.9 | |||||||||
Acquisition value | CHF million | 143.8 | 143.0 | 331.1 | 331.1 | 84.3 | 84.3 | 559.2 | 558.4 | |||||||||
Market value | CHF million | 212.0 | 204.6 | 495.4 | 494.4 | 110.9 | 106.8 | 818.4 | 805.8 | |||||||||
Average market value per property | CHF million | 35.3 | 34.1 | 49.5 | 49.4 | 27.7 | 26.7 | 40.9 | 40.3 | |||||||||
Change in market value4 | CHF million | 6.8 | 22.3 | 1.1 | 31.7 | 4.1 | 5.2 | 12.0 | 59.2 | |||||||||
Commercial real estate | ||||||||||||||||||
Number | 19 | 18 | 16 | 14 | 8 | 7 | 43 | 39 | ||||||||||
Floor space | ’000 m2 | 317 | 304 | 226 | 200 | 68 | 52 | 611 | 556 | |||||||||
Vacancy rate1 | % | 1.2 | 4.4 | 4.6 | 8.0 | 6.2 | 6.3 | 2.8 | 5.7 | |||||||||
Rental income | CHF million | 85.5 | 83.2 | 43.9 | 42.0 | 16.2 | 15.4 | 145.6 | 140.6 | |||||||||
Earnings on property2 | CHF million | 76.7 | 71.4 | 36.1 | 36.0 | 14.5 | 13.1 | 127.3 | 120.5 | |||||||||
Gross return | % | 5.2 | 5.2 | 5.5 | 5.3 | 5.3 | 5.3 | 5.3 | 5.3 | |||||||||
Net yield3 | % | 4.6 | 4.5 | 4.5 | 4.5 | 4.8 | 4.5 | 4.6 | 4.5 | |||||||||
Acquisition value | CHF million | 1 642.4 | 1 569.6 | 986.8 | 798.5 | 419.7 | 303.3 | 3 048.9 | 2 671.4 | |||||||||
Market value | CHF million | 1 758.8 | 1 629.5 | 961.0 | 784.1 | 393.0 | 285.6 | 3 112.8 | 2 699.2 | |||||||||
Average market value per property | CHF million | 92.6 | 90.5 | 60.1 | 56.0 | 49.1 | 40.8 | 72.4 | 69.2 | |||||||||
Change in market value4 | CHF million | 34.0 | 32.9 | –20.7 | –7.7 | –8.9 | –6.1 | 4.4 | 19.1 | |||||||||
Investment real estate under construction | ||||||||||||||||||
Number | 0 | 1 | 1 | 1 | – | – | 1 | 2 | ||||||||||
Land area | ’000 m2 | 0 | 11 | 11 | 11 | – | – | 11 | 22 | |||||||||
Acquisition value | CHF million | 0.0 | 42.3 | 27.2 | 11.9 | – | – | 27.2 | 54.2 | |||||||||
Market value | CHF million | 0.0 | 59.6 | 25.4 | 9.9 | – | – | 25.4 | 69.5 | |||||||||
Change in market value4 | CHF million | 5.3 | 8.6 | 0.1 | –1.9 | – | – | 5.4 | 6.7 | |||||||||
Investment volume | CHF million | 0.0 | 74.5 | 38.5 | 38.5 | – | – | 38.5 | 113.0 | |||||||||
1 In percent of target rental income, cumulative as at cut-off date
2 Rental income minus real estate expenses
3 Rental earnings in percent of continued market value on 1 January
4 From revaluation 31 December 2017 versus 31 December 2016