EPRA net yield from rental income
CHF million | 30.06.2017 | 31.12.2016 | |||
Owned investment real estate | 3 594.0 | 3 574.5 | |||
Investment real estate in joint ventures/funds | – | – | |||
Development real estate | 133.6 | 165.7 | |||
Less development real estate and investment real estate under construction | –228.1 | –235.2 | |||
Market value of yield-producing properties | 3 499.5 | 3 505.0 | |||
Annualised actual rental income | 181.3 | 181.5 | |||
Direct expenses for investment real estate | –23.0 | –30.9 | |||
Annualised net rental income | 158.3 | 150.6 | |||
Plus expected additional rental income after expiry of rental discounts | 2.6 | 2.6 | |||
Topped-up annualised net rental income | 160.9 | 153.2 | |||
EPRA net yield from rental income | 4.5% | 4.3% | |||
EPRA topped-up net yield from rental income | 4.6% | 4.4% |