EPRA net yield from rental income
CHF million | 30.06.2018 | 31.12.2017 | |||
Owned investment real estate | 3 984.9 | 3 956.6 | |||
Investment real estate in joint ventures / funds | – | – | |||
Development real estate | 116.8 | 116.5 | |||
Less development real estate and investment real estate under construction | –199.8 | –141.9 | |||
Market value of yield-producing properties | 3 901.9 | 3 931.2 | |||
Annualised actual rental income | 195.9 | 197.4 | |||
Direct expenses for investment real estate | –22.3 | –27.0 | |||
Annualised net rental income | 173.6 | 170.4 | |||
Plus expected additional rental income after expiry of rental discounts | 2.4 | 2.5 | |||
Topped-up annualised net rental income | 176.0 | 172.9 | |||
EPRA net yield from rental income | 4.4% | 4.3% | |||
EPRA topped-up net yield from rental income | 4.5% | 4.4% |