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.

Investments in quality and sustainability

We continued to actively create value and add quality in our existing portfolio, via renovations and sustainability improvements of selected assets.

Performance

The total theoretical rent stood at €394 million at year-end 2023, an increase of €18 million compared with year-end 2022.

Funding

Vesteda has a well-diversified fully unsecured funding structure, consisting of a combination of bank debt, Euro Commercial Paper (ECP), private placements, public bonds, and financing from the European Investment Bank (EIB).

Participants

Our goal is to provide our participants with an attractive risk-return, transparency and a high level of service. Participant satisfaction is one of our key performance indicators and has been stable at a high level over the past few years.

Notes to the results

The total theoretical rent increased by €16 million to €385 million in 2023. The average monthly rent (residential) increased to €1,133 at year-end 2023, from €1,081 at year-end 2022.