Information for investors and analysts
Information on investment real estate
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| Rest of canton Zurich |
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| 2014 |
| 2013 |
| 2014 |
| 2013 |
| 2014 |
| 2013 |
| 2014 |
| 2013 |
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Residential real estate |
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Number |
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| 5 |
| 4 |
| 11 |
| 11 |
| 4 |
| 3 |
| 20 |
| 18 |
Living space | ’000 m2 |
| 20 |
| 14 |
| 88 |
| 75 |
| 18 |
| 13 |
| 126 |
| 102 |
Vacancy rate [1] | % |
| 23.6 |
| 8.9 |
| 4.3 |
| 2.3 |
| 4.7 |
| 1.9 |
| 8.5 |
| 3.3 |
Rental income | CHF million |
| 5.0 |
| 3.6 |
| 18.7 |
| 17.5 |
| 4.1 |
| 3.6 |
| 27.8 |
| 24.7 |
Earnings on property [2] | CHF million |
| 4.3 |
| 3.2 |
| 16.6 |
| 13.1 |
| 3.3 |
| 3.0 |
| 24.2 |
| 19.3 |
Gross return | % |
| 3.8 |
| 4.8 |
| 4.7 |
| 5.2 |
| 5.2 |
| 6.1 |
| 4.6 |
| 5.3 |
Net yield [3] | % |
| 3.4 |
| 4.1 |
| 4.2 |
| 3.9 |
| 4.1 |
| 5.0 |
| 4.0 |
| 4.1 |
Acquisition value | CHF million |
| 119.0 |
| 65.7 |
| 336.9 |
| 278.8 |
| 84.2 |
| 54.5 |
| 540.1 |
| 399.0 |
Market value | CHF million |
| 148.6 |
| 91.7 |
| 447.2 |
| 355.0 |
| 96.7 |
| 64.8 |
| 692.5 |
| 511.5 |
Average market value per property | CHF million |
| 29.7 |
| 22.9 |
| 40.7 |
| 32.3 |
| 24.2 |
| 21.6 |
| 34.6 |
| 28.4 |
Change in market value [4] | CHF million |
| 4.1 |
| 10.7 |
| 18.2 |
| 26.5 |
| 0.7 |
| 6.3 |
| 23.0 |
| 43.5 |
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Commercial real estate |
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Number |
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| 22 |
| 22 |
| 14 |
| 12 |
| 8 |
| 8 |
| 44 |
| 42 |
Floor space | ’000 m2 |
| 344 |
| 259 |
| 177 |
| 137 |
| 59 |
| 59 |
| 580 |
| 455 |
Vacancy rate [1] | % |
| 8.2 |
| 2.3 |
| 10.6 |
| 11.8 |
| 1.9 |
| 3.5 |
| 7.8 |
| 5.0 |
Rental income | CHF million |
| 80.1 |
| 75.2 |
| 33.7 |
| 30.5 |
| 17.6 |
| 18.1 |
| 131.4 |
| 123.8 |
Earnings on property [2] | CHF million |
| 69.6 |
| 66.7 |
| 28.2 |
| 26.0 |
| 12.1 |
| 14.2 |
| 109.9 |
| 106.9 |
Gross return | % |
| 5.3 |
| 5.8 |
| 5.7 |
| 5.4 |
| 5.5 |
| 5.6 |
| 5.6 |
| 5.7 |
Net yield [3] | % |
| 4.6 |
| 5.2 |
| 4.8 |
| 4.6 |
| 3.8 |
| 4.4 |
| 4.7 |
| 4.9 |
Acquisition value | CHF million |
| 1 705.5 |
| 1 155.9 |
| 770.9 |
| 568.0 |
| 333.4 |
| 330.9 |
| 2 809.8 |
| 2 054.8 |
Market value | CHF million |
| 1 727.6 |
| 1 225.9 |
| 769.8 |
| 552.8 |
| 319.7 |
| 320.0 |
| 2 817.1 |
| 2 098.7 |
Average market value per property | CHF million |
| 78.5 |
| 55.7 |
| 54.8 |
| 46.1 |
| 40.0 |
| 40.0 |
| 64.0 |
| 50.0 |
Change in market value [4] | CHF million |
| −30.6 |
| –29.3 |
| 5.2 |
| –21.9 |
| −2.8 |
| –3.4 |
| −28.2 |
| –54.6 |
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Investment real estate under construction |
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Number |
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| 1 |
| 3 |
| – |
| 3 |
| – |
| 1 |
| 1 |
| 7 |
Land area | 000 m2 |
| 2 |
| 32 |
| – |
| 25 |
| – |
| 1 |
| 2 |
| 58 |
Acquisition value | CHF million |
| 4.7 |
| 616.8 |
| – |
| 174.3 |
| – |
| 25.5 |
| 4.7 |
| 816.6 |
Market value | CHF million |
| 4.0 |
| 613.7 |
| – |
| 195.0 |
| – |
| 26.9 |
| 4.0 |
| 835.6 |
Change in market value [4] | CHF million |
| −0.7 |
| 1.5 |
| – |
| 16.7 |
| – |
| 1.0 |
| −0.7 |
| 19.2 |
Investment volume | CHF million |
| 23.0 |
| 645.0 |
| – |
| 276.0 |
| – |
| 29.0 |
| 23.0 |
| 950.0 |
[1]In percent of target rental income, cumulative as at cut-off date
[2]Rental income minus real estate expenses
[3]Rental earnings in percent of continued market value on 1 January
[4]From revaluation 31 December 2014 versus 31 December 2013