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Publication date: June 17, 2025
Vonovia SE is Europe's largest residential real estate company and has been listed on the stock exchange since 2015. The group manages hundreds of thousands of rental properties, mainly in urban areas with structural housing shortages. In this article, we analyze Vonovia shares: price trends, financial performance, competition, and expectations for 2025. Would you like to receive weekly updates on European stocks? Then subscribe to our newsletter here and stay informed.
- Year of establishment: 2001
- Year added to the DAX 40: 2015
- Highest price ever: €58.76
- Average trading volume: 2.67 million
- Price performance over the past 12 months: +7.15%
Introduction about the company
Vonovia SE is Germany's largest residential landlord and a leading player in the European real estate sector. Based in Bochum, the company manages a portfolio of more than 500,000 properties, mainly in Germany, Austria and Sweden. Vonovia focuses on providing affordable and sustainable living spaces in urban areas. In addition to rentals, the company also offers services in the areas of renovation, maintenance and energy efficiency.
Key figures & achievements
In 2024, Vonovia had revenues of €5.93 billion and net profits of €280 million. The company employs around 14,000 people and continues to invest in making its real estate portfolio more sustainable despite challenging market conditions. Its market capitalization in June 2025 was approximately €24.16 billion.
History & development
Vonovia has its origins in the former housing division of Deutsche Annington, which was founded in 2001 and later grew into an independent real estate giant. In 2015, the company merged with GAGFAH and subsequently also acquired Victoria Park (Sweden) and Hembla (Sweden). The name change to Vonovia SE took place in 2015, simultaneously with its listing on the Frankfurt Stock Exchange. Since then, the company has grown to become one of Europe's largest property managers. Vonovia was included in the DAX 30 index on September 21, 2015, making it the first real estate company in this leading German stock market index. In 2021, the index was expanded to DAX 40, with Vonovia remaining one of the enduring names. This inclusion underscored the company's growth, scale, and strategic importance within the German economy.
Sector & competition
Vonovia operates within the residential real estate sector, a relatively stable market with long-term leases and structural housing shortages in urban areas. Key competitors include LEG Immobilien, Deutsche Wohnen (now part of Vonovia), and international players such as Covivio and Heimstaden Bostad. Vonovia stands out for its scale, integrated approach, and focus on sustainability. It invests heavily in energy savings, carbon reduction, and digitalization of maintenance processes.
Vonovia's influence on the DAX 40
Vonovia has a weighting of 1.45% in the DAX 40 index (measured in December 2024). View the composition of the DAX 40 and the weighting of all companies in the DAX 40 here. The share price is influenced by factors such as interest rate developments, regulations in the housing market, rent caps and the valuation of real estate portfolios. Societal discussions about affordability and sustainability also play a role in the company's public image and market position.
Investment analysis & outlook
Vonovia showed a slight recovery in 2024 after a difficult period with rising interest rates and falling property valuations. Benefiting from the structural housing shortage in major cities, the company is investing heavily in renovation, new construction, and energy transition.
For 2025, Vonovia expects moderate growth, but market conditions remain uncertain. The combination of sustainability policies, long-term rental income and growing demand for urban living does offer potential for stable long-term cash flows. Analysts follow the stock closely because of its sensitivity to interest rate changes and political decision-making.
Looking at the chart below, which compares Vonovia SE's share price performance with the DAX index (purple line) over the past five years, a stark contrast is striking.
While the DAX showed an impressive increase of about +89.72% during this period, Vonovia shares lost about -41.13% in value. Vonovia's downward trend started in 2021 and reached a low in mid-2022. Since then, there has been a slight recovery, but the stock remains far from previous levels. This anomalous share price trend underscores the pressure under which the residential real estate sector is operating, in contrast to the broader German equity market, which was instead experiencing a strong growth phase.
News & updates
In March 2025, Vonovia announced it had invested more than €1 billion in residential renovations by 2024, focusing on energy savings and carbon reduction. The company also committed to further digitalization of maintenance services and announced a pilot project with solar panels and neighborhood batteries in partnership with Siemens.
Vonovia also confirmed that it proposes to pay a dividend of €0.90 per share, which is in line with last year's results. With this focus on sustainability, technological innovation, and affordable housing, Vonovia remains a central player within the European housing market.
Disclaimer: Investing involves risk. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. They are therefore for educational purposes only.
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