Outlook and management agenda

The outlook for 2017 is positive. Economic growth is expected to come in at 2.1%, thanks to the ongoing rise in consumer spending, investments in houses, business investments, public sector spending and exports.

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Key performance indicators

Loss of rent over 2017 is estimated at just over 3% of the theoretical rent, a slight rise compared with the loss of rent of 2.5% recorded in 2016.

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Management agenda 2017

Our strong focus on future developments in the Dutch residential market, such as the declining size of households, changing housing demands etc.

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Members of the Supervisory Committee

From left to right: Peter Kok (Chairman), Hans Copier, Seada van den Herik and John de Die.

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Report of the Supervisory Committee

We are pleased that the upward trend that resulted in a very successful 2015 was continued in 2016, with an excellent result of € 537 million.

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Introduction

The composition of the portfolio is based on the following three pillars:

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Units

Please see the section Key portfolio characteristics of this report for the segmentation of our portfolio by type of residential unit.

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Income from investment portfolio

The market rent was 0.6% below the theoretical rent at year-end 2016. Although still negative, the reversionary potential has improved to -0.6% from -0.9% in 2015 on the back of strong market rent growth which underlines the quality of our portfolio.

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Value of investment portfolio

The table below shows the value growth of the investment portfolio, which increased to € 4,207 million as at 31 December 2016, an increase of 12.9% compared with the previous year (2015: € 3,726 million).

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