Finance
Vonovia posts third year of losses for 2024 on writedowns as sector struggles
Published by Global Banking & Finance Review®
Posted on March 19, 2025
2 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 19, 2025
2 min readLast updated: January 24, 2026
Vonovia reports a third annual loss in 2024 due to property writedowns, amid a struggling German real estate sector. CEO Rolf Buch forecasts a return to profit in 2025.
By Matthias Inverardi and Tom Sims
DUESSELDORF (Reuters) -Germany's largest real estate group Vonovia on Wednesday posted a third consecutive annual loss for 2024, reporting further writedowns of its property values as the country's real estate sector struggled.
The figures from Germany's biggest residential landlord come as its property sector is mired in its worst crisis in decades, marked by insolvencies, stalled sales, falling prices and a decline in construction jobs.
The company's 962.3 million euro ($1.05 billion) loss in 2024 was narrower than the previous year's 6.76 billion euros. In 2022, the loss was 669.4 million euros, and Vonovia had previously experienced years of profit going back to at least 2010, according to LSEG data.
CEO Rolf Buch forecast better times ahead, predicting a return to net profit in 2025 with a stabilization of property values after a 2.3% writedown in 2024.
But he said plans by the German government for a massive spending surge have created uncertainty for the housing market, a reference to the fact that the new debt plans have already resulted in a rise in borrowing costs.
"The property market is currently reacting strongly to the German government's announced investment plans. The medium and long-term effects on housing prices and financing costs are (as) yet uncertain," he said.
He said the company was closely watching the situation and was prepared if necessary to put off more capital-intensive projects such as new building.
($1 = 0.9148 euros)
(Reporting by Matthias Inverardi and Tom Sims; Editing by Ludwig Burger and Jan Harvey)
The article discusses Vonovia's third consecutive annual loss in 2024 due to property writedowns and the struggles in Germany's real estate sector.
Vonovia's losses are attributed to writedowns of property values amid a crisis in Germany's real estate sector.
CEO Rolf Buch predicts a return to net profit in 2025 as property values stabilize.
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