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Hamburg (dpa) - Rising rents in metropolitan areas continue to drive TAG Immobilien.
The company also benefits from real estate services.
In the first quarter, the operating result (FFO 1) increased year-on-year by 8.6 percent to 45.6 million euros, as the company listed in the MDax announced on Monday in Hamburg.
The cold rents climbed by 4.3 percent to 83.1 million euros.
The group result rose by 7.5 percent to 34.5 million euros.
The key figure FFO, which is important for real estate companies, indicates how much money remains from ongoing business after deducting interest payments and taxes.
The FFO essentially results from the surplus plus depreciation on real estate and less capital gains.
The average rent per square meter rose in the first three months by 1.1 percent year-on-year to EUR 5.48, with the rent for new rentals increasing by around 1.8 percent to EUR 5.80.
The vacancy rate increased by 0.6 points to 5.9 percent due to fewer visits as a result of the corona pandemic.
For the rest of the year, TAG Immobilien expects a vacancy reduction in the amount of the previous year.
This is to be expected above all as soon as the lockdown is loosened or lifted.
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The approximately 88,000 German properties of the Hamburg group are located in the so-called B and C locations and thus in the other catchment areas of the metropolises and in medium-sized cities.
Most of the residential properties are in eastern German cities such as Gera, Leipzig, Chemnitz, Erfurt and in the Berlin area.
© dpa-infocom, dpa: 210510-99-537315 / 3
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