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Message from the Management Board

We are pleased to present you with our 2023 annual report, in which we describe the key developments and account for our financial and ESG performance.

About Vesteda

Vesteda is a residential investor and landlord that focuses on sustainable homes for middle-income households. Vesteda invests funds for institutional investors, such as pension funds and insurance companies.

Portfolio overview

Key figures

Note: Direct return and capital growth might not add up to total return as a result of time-weighted averages on a monthly basis.

Strategy

At home with Vesteda. This applies to our tenants, the investors who invest in our fund and the employees who work at our company. Our mission is to make sure our key stakeholders feel at home with Vesteda.

Market developments

The ongoing market dynamics in the Netherlands are primarily shaped by volatile inflation, high interest rates, the transition to sustainable energy, and increased government regulation.

Units

The total number of residential units stood at 27,675 at year-end 2023, an increase of 14 units compared with year-end 2022.

Segmentation

At year-end 2023, 91% of the investment portfolio was located in Vesteda’s primary regions, in line with 2022.

Acquisitions and property sales

The macroeconomic conditions for the Dutch housing market did not improve significantly in 2023 and the developments described in the Market developments chapter resulted in an imbalance in the investment market.