Germany: Top 10 Lessors of Residential Property with Highest Sales

According to our database (as of May 2023), a total of more than 5.3M businesses operate in Germany. 11.42% of them (more than 608 thousand) operate in Finance, Insurance, and Real Estate. These companies generate 22.6% of total sales generated by all businesses registered in Germany and employ 19.4% of all employees in Germany. The TOP 10 Lessors of Residential Property in Germany generated more than EUR 9B in sales in 2021 - the largest company, Vanovia SE, was responsible for more than 37% of the total.

All data used in this overview is available in individual companies’ annual reports. Lessors include revaluation of real estate in their sales numbers. To make these companies comparable we only included revenues from rent in sales numbers below. Profit of these companies is higher than sales numbers due to the same property revaluations.

Vonovia SE reported the highest sales in 2021

Vonovia SE was first with sales of EUR 3.5B (an increase of EUR 395.6M compared to 2020). It is a leading residential real estate company in Germany managing and operating a diverse portfolio of rental properties across the country.

Deutsche Wohnen SE was second with EUR 1.2B in sales in 2021 (year-on-year increase of EUR 12M). It is a leading German real estate company focused on managing and developing residential properties in major urban centers.

SAGA Group Hamburg was third with EUR 1B in sales (an increase of EUR 17M compared to the year before). It is a housing company based in Hamburg (Germany). The company provides affordable and social housing to residents in the region.

LEG Immobilien SE was fourth with reported sales of EUR 960.4M in 2021 (year-on-year increase of EUR 99.6M). This company specializes in the development and management of affordable housing.

GEWOBAG Wohnungsbau-Aktiengesellschaft Berlin was fifth with EUR 543.3M in sales (an increase of EUR 17.9M compared to the year before). It is a leading housing company in Berlin (Germany) offering a range of affordable rental apartments.

Degewo Aktiengesellschaft was sixth with sales of EUR 515.8M in 2021 (year-on-year increase of EUR 21.1M). It is a major housing company in Berlin specializing in the development and management of affordable housing projects.

ABG FRANKFURT HOLDING Wohnungsbau- und Beteiligungsgesellschaft mbH was seventh with EUR 502.2M in sales (an increase of EUR 11M year-on-year). It is a housing and investment company based in Frankfurt (Germany) focusing on the development and management of affordable housing.

TAG Immobilien AG was eighth with EUR 436.9M in sales (year-on-year increase of EUR 10.5M). It is a real estate company that acquires, manages, and develops residential properties across Germany.

Nassauische Heimstätte Wohnungs- und Entwicklungsgesellschaft mbH was ninth with reported sales of EUR 396.6M in 2021 (an increase of EUR 12.1M compared to the year before). It is a limited liability company providing housing and development services primarily in the state of Hesse.

HOWOGE Wohnungsbaugesellschaft mbH was tenth with EUR 309.5M in sales (year-on-year increase of EUR 5.8M). It is a housing construction company in Berlin that offers rental apartments to residents.

Vonovia SE reported the highest profit both before and after tax in 2021

Vonovia SE had the highest profit before tax in 2021 - EUR 5.5B. LEG Immobilien SE was second with EUR 2.1B. Deutsche Wohnen SE was third with EUR 1.8B, followed by HOWOGE Wohnungsbaugesellschaft mbH (EUR 857.6M), TAG Immobilien AG (EUR 718.1M), SAGA Group (EUR 308.3M), degewo Aktiengesellschaft (EUR 104.2M), ABG FRANKFURT HOLDING Wohnungsbau- und Beteiligungsgesellschaft mbH (EUR 76.6M), Nassauische Heimstätte Wohnungs- und Entwicklungsgesellschaft mbH (EUR 60.5M), and GEWOBAG Wohnungsbau-Aktiengesellschaft Berlin (EUR 30.1M).

Vonovia SE also reported the highest profit after tax in 2021 -  EUR 2.8B. LEG Immobilien SE was second with EUR 1.7B. Deutsche Wohnen SE was third with EUR 919M, followed HOWOGE Wohnungsbaugesellschaft mbH (EUR 668.4M), TAG Immobilien AG (EUR 585.6M), SAGA Group (EUR 225.9M), degewo Aktiengesellschaft (EUR 97.6M), ABG FRANKFURT HOLDING Wohnungsbau- und Beteiligungsgesellschaft mbH (EUR 76.6M), Nassauische Heimstätte Wohnungs- und Entwicklungsgesellschaft mbH (EUR 57.1M), and GEWOBAG Wohnungsbau-Aktiengesellschaft Berlin (EUR 23M).