HOWOGE Confirms 2026 Forecast After Robust First Half

HOWOGE Wohnungsbaugesellschaft mbH, a major housing company in Berlin, has reaffirmed its forecast for 2026 following a successful first half of the year. The company's strategy now focuses on building new apartments and optimizing processes rather than acquisitions. By June 2026, HOWOGE owned 83,300 residential units and maintained a low vacancy rate, mainly due to ongoing construction works. Despite a challenging economic climate, their rental revenue increased by 2.6% to EUR 230.1 million, and adjusted EBITDA rose by 1.9% compared to the previous year.

HOWOGE completed 536 new apartments, contributing to affordable housing in Berlin. The company's housing portfolio's fair value increased by EUR 48 million, bring the total value to EUR 15.2 billion. Fitch Ratings upgraded HOWOGE to AA+ with a stable outlook, highlighting the company's strong financial health and close ties with Berlin's government.

Looking forward, HOWOGE expects an FFO of EUR 180-200 million for 2026, driven by new financing from the European Investment Bank for up to 3,200 residential units.