05.09.2016
TAG Immobilien AG DE0008303504
TAG Immobilien AG: Prefabs make a comeback - Tenants appreciate their advantages
DGAP-Media / 05.09.2016 / 16:13
Press release
Prefabs make a comeback: Tenants appreciate their advantages
Hamburg (6 September 2016) - After being scorned for decades, prefabricated
panel block buildings are now witnessing a renaissance. Property owners and
tenants in Germany appreciate their advantages, including the options for
modernisation with individual concepts thanks to the standardised design.
"'Prefabs' are very popular with our tenants and demand for them is huge,"
says Claudia Hoyer, the TAG Management Board member responsible for
property management. In Erfurt, for example, the company has a vacancy rate
of only 2.5 percent in its prefabricated buildings, and tenants stay in
them a long time.
Another reason for the return of prefabs is the booming housing market.
According to experts, Germany has a shortage of about 950,000 homes. "When
you think about building new affordable housing, it's hard to ignore serial
construction methods," says Hoyer. Individually built homes are almost
unaffordable to average earners, especially in cities with higher rents.
"We are witnessing a return of the prefab - adapted to today's requirements
including the desire for larger flats," says Hoyer.
Prefabricated buildings make up 38 percent of the TAG portfolio. This
corresponds to 32,000 housing units, most of them in eastern Germany.
Because this is a standardised type of building, modernisation, renovations
and maintenance are relatively low-cost and quick to implement. Once a
concept has been developed, e.g. regarding layout changes, it can be
transferred to any location.
For example, TAG will convert small three-bedroom apartments into
generously sized two-bedroom flats or combine two units into one - with an
open living room and kitchen area. Internal bathrooms are relocated and
provided with a window. If costs are to remain reasonable, this is only
possible with prefabricated buildings. There is an additional advantage:
unlike other older residential properties, the blocks are often equipped
with lifts, balconies and are well integrated into the surrounding area -
be it their proximity to kindergartens, schools, shopping and medical care,
or access to public transport. As a result, the neighbourhoods are popular
with students, families and older people.
"The prefab's bad reputation has been overcome," says Hoyer, adding that
today, it is more important to people to live in their preferred districts
than whether their flat has a prefabricated or conventional structure. "And
if their new home is in good condition to boot, and has a good layout and
balcony, then these are clear advantages in favour of prefabricated panel-
block buildings, which many tenants have now come to recognise."
Press material i.e. pictures regarding prefabs pre and post modernisation
for download under the following link: http://www.tag-ag.com/bilder/
plattenbau
Contact for the tenant survey:
Thöring & Stuhr
Communications Consultancy
Claudia Thöring
Mittelweg 19 - D-20148 Hamburg
phone: +49 40 207 6969 82
mobile: +49 170 2150 146
[email protected]
About TAG Immobilien AG
TAG Immobilien AG an MDAX-listed company with a more than 125-year history.
Its primary locations are in the Greater Hamburg and Berlin areas, the
Salzgitter region, as well as Thuringia / Saxony and North Rhine-
Westphalia. TAG currently manages nearly 80,000 dwellings and the
associated commercial areas, garages and parking spaces. The company's goal
is to improve the quality of housing for its tenants. In line with this,
TAG adapts its holdings to modern living needs to, gets involved in the
communities of its residential quarters, and promotes a good neighbourhood
spirit. The Group continually reduces vacancy and increasing the value of
its total portfolio through prudent management of its properties and a
future-oriented/forward-looking development of its overall portfolio.
Press enquiries:
TAG Immobilien AG
Head of Investor & Public Relations
Dominique Mann
Phone +49 (0) 40 380 32 300
Fax +49 (0) 40 380 32 390
[email protected]
End of Media Release
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Issuer: TAG Immobilien AG
Key word(s): Real estate
05.09.2016 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Germany
Phone: 040 380 32 0
Fax: 040 380 32 388
E-mail: [email protected]
Internet: http://www.tag-ag.com
ISIN: DE0008303504, XS0954227210, DE000A12T101
WKN: 830350, A1TNFU, A12T10
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Stuttgart, Tradegate Exchange
End of News DGAP Media
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