EPRA net yield from rental income
CHF million | 30.06.2020 | 31.12.20191 | |||
Owned investment real estate | 4 391.9 | 4 342.0 | |||
Investment real estate in joint ventures/funds | – | – | |||
Development real estate | 185.1 | 167.6 | |||
Less development real estate and investment real estate under construction | –319.7 | –267.2 | |||
Market value of yield-producing properties | 4 257.3 | 4 242.4 | |||
Annualised actual rental income | 202.0 | 204.5 | |||
Direct expenses for investment real estate | –31.6 | –29.7 | |||
Annualised net rental income | 170.4 | 174.8 | |||
Plus expected additional rental income after expiry of rental discounts | 2.4 | 0.7 | |||
Topped-up annualised net rental income | 172.8 | 175.5 | |||
EPRA net yield from rental income | 4.0% | 4.1% | |||
EPRA topped-up net yield from rental income | 4.1% | 4.1% |
1 Previous year’s figures restated, see section 2 of the selected notes