Information on investment real estate
City of Zurich | Rest of Canton of Zurich | Other regions | Total real estate | |||||||||||||||
2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | |||||||||||
Residential real estate | ||||||||||||||||||
Number | 6 | 6 | 11 | 10 | 4 | 4 | 21 | 20 | ||||||||||
Living space | ’000 m2 | 22 | 22 | 93 | 86 | 18 | 18 | 133 | 126 | |||||||||
Vacancy rate1 | % | 0.9 | 2.1 | 4.0 | 1.3 | 1.4 | 2.0 | 2.9 | 1.6 | |||||||||
Rental income | CHF million | 8.3 | 8.1 | 20.5 | 20.5 | 5.0 | 5.0 | 33.7 | 33.6 | |||||||||
Earnings on property2 | CHF million | 7.6 | 6.6 | 15.5 | 16.6 | 4.2 | 4.1 | 27.4 | 27.3 | |||||||||
Gross return | % | 3.9 | 3.9 | 4.0 | 4.1 | 4.5 | 4.7 | 4.1 | 4.2 | |||||||||
Net yield3 | % | 3.6 | 3.2 | 3.1 | 3.4 | 3.8 | 3.9 | 3.3 | 3.4 | |||||||||
Acquisition value | CHF million | 144.0 | 143.8 | 375.0 | 331.1 | 84.3 | 84.3 | 603.3 | 559.2 | |||||||||
Market value | CHF million | 224.9 | 212.0 | 569.2 | 495.4 | 116.7 | 110.9 | 910.8 | 818.4 | |||||||||
Average market value per property | CHF million | 37.5 | 35.3 | 51.7 | 49.5 | 29.2 | 27.7 | 43.4 | 40.9 | |||||||||
Change in market value4 | CHF million | 12.9 | 6.8 | 28.3 | 1.1 | 5.7 | 4.1 | 46.9 | 12.0 | |||||||||
Commercial real estate | ||||||||||||||||||
Number | 19 | 19 | 16 | 16 | 9 | 8 | 44 | 43 | ||||||||||
Floor space | ’000 m2 | 317 | 317 | 226 | 226 | 90 | 68 | 633.548 | 611 | |||||||||
Vacancy rate1 | % | 0.6 | 1.2 | 2.8 | 4.6 | 4.3 | 6.2 | 1.8 | 2.8 | |||||||||
Rental income | CHF million | 89.7 | 85.5 | 51.5 | 43.9 | 19.8 | 16.2 | 161.1 | 145.6 | |||||||||
Earnings on property2 | CHF million | 80.6 | 76.7 | 46.0 | 36.1 | 18.3 | 14.5 | 144.9 | 127.3 | |||||||||
Gross return | % | 5.1 | 5.2 | 5.4 | 5.5 | 5.0 | 5.3 | 5.2 | 5.3 | |||||||||
Net yield3 | % | 4.6 | 4.6 | 4.8 | 4.5 | 4.6 | 4.8 | 4.7 | 4.6 | |||||||||
Acquisition value | CHF million | 1 608.7 | 1 642.4 | 987.4 | 986.8 | 531.6 | 419.7 | 3 127.7 | 3 048.9 | |||||||||
Market value | CHF million | 1 773.6 | 1 758.8 | 956.7 | 961.0 | 460.7 | 393.0 | 3 191.0 | 3 112.8 | |||||||||
Average market value per property | CHF million | 93.3 | 92.6 | 59.8 | 60.1 | 51.2 | 49.1 | 72.5 | 72.4 | |||||||||
Change in market value4 | CHF million | 48.5 | 34.0 | –4.9 | –20.7 | –44.1 | –8.9 | –0.5 | 4.4 | |||||||||
Investment real estate under construction | ||||||||||||||||||
Number | 2 | 0 | 0 | 1 | – | – | 2 | 1 | ||||||||||
Land area | ’000 m2 | 9 | 0 | 0 | 11 | – | – | 9 | 11 | |||||||||
Acquisition value | CHF million | 47.1 | 0.0 | 0.0 | 27.2 | – | – | 47.1 | 27.2 | |||||||||
Market value | CHF million | 58.1 | 0.0 | 0.0 | 25.4 | – | – | 58.1 | 25.4 | |||||||||
Change in market value4 | CHF million | 14.2 | 5.3 | 0.0 | 0.1 | – | – | 14.2 | 5.4 | |||||||||
Investment volume | CHF million | 120.1 | 0.0 | 0.0 | 38.5 | – | – | 120.1 | 38.5 | |||||||||
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 2018 versus 31 December 2017