Portfolio characteristics
Total property value (276 properties, 18,227 homes) of € 6,483 million at year-end 2019
99.2% of all properties are located in core regions
92.3% in liberalised rental sector, with 33.7% in the mid-rental segment
85.8% located in the Randstad, Brabantstad and mid-eastern conurbations and inner-city areas
Total fund return of 11.5%, income return 2.3%
Occupancy rate of 97.9%
GRESB 4-star rating (84 points)
100% green energy labels (A, B or C label), 42% label A
Tenant satisfaction score of 7.2
Core region policy
To identify the most attractive municipalities for residential investments, the Fund takes into account the following indicators:
The Fund’s plan is for at least 80% of the total portfolio value to be in investment properties in the Fund's core regions. This currently stands at close to 99.2%. As the entire investment pipeline is located in the Fund’s core regions, this percentage will increase slightly in the near future. Furthermore, the Fund has a guideline that a maximum of 90% can be invested in the Randstad conurbation. This now stands at 85.8%.
The Residential Fund’s core regions based on market value, excluding property under construction
Major segments
To meet its own diversification guidelines, the Fund strives for a healthy balance of family homes and apartments. Due to our focus on urban areas, the proportion of apartments will continue to grow for the foreseeable future.
Portfolio composition by type of property based on market value
In our drive to optimise our portfolio, we take into account the following diversification categories:
Focus on liberalised rental sector
The Fund sees the liberalised sector (rents of € 720 and above (as per January 2020, rents of € 737 and above) as particularly interesting, as demand is set to increase, while supply is lagging, especially in the Netherlands’ largest and most popular cities. With more than 90% of its properties in the liberalised segment, the Fund’s focus continues to be on this segment.
In the graph below, we have added the mid-rental segment for liberalised properties with special agreements related to the likes of the rental level and rent increases.
Allocation of investment property by type of rent based on rental contract
Selection of principal properties
Existing portfolio (selection)
Portfolio pipeline (selection)
Added to the portfolio pipeline in 2019 (selection)
