EPRA net yield from rental income
CHF million | 30.06.2019 | 31.12.2018 | |||
Owned investment real estate | 4 237.5 | 4 159.9 | |||
Investment real estate in joint ventures / funds | – | – | |||
Development real estate | 156.3 | 147.6 | |||
Less development real estate and investment real estate under construction | –230.0 | –205.7 | |||
Market value of yield-producing properties | 4 163.8 | 4 101.8 | |||
Annualised actual rental income | 204.0 | 202.8 | |||
Direct expenses for investment real estate | –29.0 | –24.8 | |||
Annualised net rental income | 175.0 | 178.0 | |||
Plus expected additional rental income after expiry of rental discounts | 1.6 | 2.1 | |||
Topped-up annualised net rental income | 176.6 | 180.1 | |||
EPRA net yield from rental income | 4.2% | 4.3% | |||
EPRA topped-up net yield from rental income | 4.2% | 4.4% | |||