EPRA operating expense ratio
CHF million | 2019 | 2018 | |||
Operating expenses of investment real estate according to IFRS income statement: | |||||
Direct expenses for rented investment real estate | 27.6 | 22.6 | |||
Personnel expenses | 8.9 | 7.3 | |||
Other operating expenses | 1.9 | 3.3 | |||
EPRA operating expenses (incl. vacancy costs) | 38.4 | 33.2 | |||
Direct vacancy costs | 1.7 | 0.6 | |||
EPRA operating expenses (excl. vacancy costs) | 36.7 | 32.6 | |||
Gross rental income less ground rent | 204.4 | 194.8 | |||
EPRA rental income | 204.4 | 194.8 | |||
EPRA operating expense ratio (incl. direct vacancy costs) | 18.8% | 17.0% | |||
EPRA operating expense ratio (excl. direct vacancy costs) | 18.0% | 16.7% |