EPRA net yield from rental income
CHF million | 31.12.2019 | 31.12.2018 | ||
Owned investment real estate | 4 375.9 | 4 159.9 | ||
Investment real estate in joint ventures / funds | – | – | ||
Development real estate | 167.2 | 147.6 | ||
Less development real estate and investment real estate under construction | –266.8 | –205.7 | ||
Market value of yield-producing properties | 4 276.3 | 4 101.8 | ||
Annualised actual rental income | 204.5 | 202.8 | ||
Direct expenses for investment real estate | –29.7 | –24.8 | ||
Annualised net rental income | 174.8 | 178.0 | ||
Plus expected additional rental income after expiry of rental discounts | 0.7 | 2.1 | ||
Topped-up annualised net rental income | 175.5 | 180.1 | ||
EPRA net yield from rental income | 4.1% | 4.3% | ||
EPRA topped-up net yield from rental income | 4.1% | 4.4% |