Vonovia Keeps Below-12x Leverage Target as Rates Slow Property Sales

Vonovia said on October 28, 2026 that its target of net debt to EBITDA below 12 times is unchanged. The same release warned that higher rates and weaker financing conditions are constraining transaction activity and sales-related business. Planned disposals were a main lever for debt cuts, so the ratio now leans more on earnings growth and refinancing costs.