The CEE property portfolio of Vienna-listed Immofinanz has topped a new benchmark report by the Investment Property Database (IPD).
The CEE property portfolio of Vienna-listed Immofinanz has topped a new benchmark report by the Investment Property Database (IPD).
The IPD study of 49 portfolios in the CEE region rated the Immofinanz holdings first with regard to total return during 2012.
The year saw the return on all CEE properties owned by Immofinanz reach 10.2%.
For the overall return on its CEE properties from 2010 to 2012, the company was also awarded the "IPD Property Investment Award in Central and Eastern Europe for balanced funds". The period saw the portfolio generate an average return of 10.9%.
The IPD calculation for the total portfolio return includes rental income and the increase in the value of the properties.
Immofinanz CEO Eduard Zehetner said the award was a vindication of the company’s strategy.
‘The value increase component in this three-year return calculation documents our realistic-conservative valuation during the crisis, while the rental return underscores the success of our active asset management and intensive local customer service. Both factors point out the correctness of our strategy,' he said.
