Information on investment real estate
City of Zurich | Rest of Canton Zurich | Other regions | Total real estate | |||||||||||||||
2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | |||||||||||
Residential real estate | ||||||||||||||||||
Number | 6 | 6 | 11 | 11 | 4 | 4 | 21 | 21 | ||||||||||
Living space | 000 m2 | 25 | 22 | 93 | 93 | 18 | 18 | 136 | 133 | |||||||||
Vacancy rate1 | % | 1.2 | 0.9 | 4.2 | 4.0 | 2.7 | 1.4 | 3.3 | 2.1 | |||||||||
Rental income | CHF million | 8.3 | 8.3 | 21.9 | 20.5 | 4.9 | 5.0 | 35.1 | 33.7 | |||||||||
Earnings on property2 | CHF million | 7.5 | 7.6 | 17.2 | 15.5 | 3.8 | 4.2 | 28.5 | 27.4 | |||||||||
Gross yield | % | 3.7 | 3.9 | 3.8 | 4.0 | 4.2 | 4.5 | 3.9 | 4.1 | |||||||||
Net yield3 | % | 3.3 | 3.6 | 3.0 | 3.1 | 3.2 | 3.8 | 3.1 | 3.5 | |||||||||
Acquisition value | CHF million | 172.0 | 144.0 | 375.9 | 375.0 | 84.4 | 84.3 | 632.1 | 603.4 | |||||||||
Market value | CHF million | 273.4 | 224.9 | 611.8 | 569.2 | 125.0 | 116.7 | 1 010.2 | 910.8 | |||||||||
Average market value per property | CHF million | 45.6 | 37.5 | 55.6 | 51.7 | 31.3 | 29.2 | 48.1 | 43.4 | |||||||||
Change in market value4 | CHF million | 20.4 | 12.9 | 42.0 | 28.3 | 8.3 | 5.7 | 70.7 | 46.9 | |||||||||
Commercial real estate | ||||||||||||||||||
Number | 19 | 19 | 15 | 16 | 9 | 9 | 43 | 44 | ||||||||||
Floor space | 000 m2 | 317 | 317 | 219 | 226 | 90 | 90 | 626 | 634 | |||||||||
Vacancy rate1 | % | 0.4 | 0.6 | 3.7 | 2.8 | 3.4 | 4.3 | 1.9 | 2.0 | |||||||||
Rental income | CHF million | 89.2 | 89.7 | 50.8 | 51.5 | 29.4 | 19.8 | 169.3 | 161.1 | |||||||||
Earnings on property2 | CHF million | 74.2 | 80.6 | 46.5 | 46.0 | 27.3 | 18.3 | 148.1 | 144.9 | |||||||||
Gross yield | % | 5.0 | 5.1 | 5.3 | 5.4 | 6.4 | 5.0 | 5.3 | 5.2 | |||||||||
Net yield3 | % | 4.2 | 4.6 | 4.9 | 4.8 | 5.9 | 4.6 | 4.6 | 4.8 | |||||||||
Acquisition value | CHF million | 1 616.2 | 1 608.7 | 964.2 | 987.4 | 531.6 | 531.6 | 3 111.9 | 3 127.6 | |||||||||
Market value | CHF million | 1 874.4 | 1 773.6 | 919.9 | 956.7 | 438.0 | 460.7 | 3 232.3 | 3 191.0 | |||||||||
Average market value per property | CHF million | 98.7 | 93.3 | 61.3 | 59.8 | 48.7 | 51.2 | 75.2 | 72.5 | |||||||||
Change in market value4 | CHF million | 93.3 | 48.5 | –18.8 | –4.9 | –23.1 | –44.1 | 51.4 | –0.5 | |||||||||
Investment real estate under construction | ||||||||||||||||||
Number | 2 | 2 | 0.0 | 0.0 | – | – | 2 | 2 | ||||||||||
Land area | 000 m2 | 9 | 9 | 0.0 | 0.0 | – | – | 9 | 9 | |||||||||
Acquisition value | CHF million | 71.7 | 47.1 | 0.0 | 0.0 | – | – | 71.7 | 47.1 | |||||||||
Market value | CHF million | 99.6 | 58.1 | 0.0 | 0.0 | – | – | 99.6 | 58.1 | |||||||||
Change in market value4 | CHF million | 17.0 | 14.2 | 0.0 | 0.0 | – | – | 17.0 | 14.2 | |||||||||
Investment volume | CHF million | 116.9 | 120.1 | 0.0 | 0.0 | – | – | 116.9 | 120.1 |
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 2019 versus 31 December 2018