EPRA operating expense ratio
CHF million | 1st half-year 2017 | 1st half-year 2016 | |||
Operating expenses of investment real estate according to IFRS income statement: | |||||
Direct expenses for rented investment real estate | 11.1 | 11.5 | |||
Personnel expenses | 3.1 | 2.3 | |||
Other operating expenses | 1.9 | 3.8 | |||
EPRA operating expenses (including vacancy costs) | 16.1 | 17.6 | |||
Direct vacancy costs | 0.9 | 1.3 | |||
EPRA operating expenses (excluding vacancy costs) | 15.2 | 16.3 | |||
Gross rental income less ground rent | 87.5 | 86.5 | |||
EPRA rental income | 87.5 | 86.5 | |||
EPRA operating expenses (including direct vacancy costs) | 18.4% | 20.3% | |||
EPRA operating expenses (excluding direct vacancy costs) | 17.4% | 18.8% |