VNNVF - Vonovia: A Rare Buy Opportunity With Double-Digit Upside Potential
Introduction
The sentiment on the German real estate market is not good. In recent months, there have been some discussions in the environment of housing companies. Consensus estimates see a shortage of at least 1 million apartments in urban areas. At the centre of the discussion is Vonovia (OTCPK:VONOY, VNNF). The company is Germany's largest residential property company. Vonovia was established in a 2015 merger of German real estate companies Deutsche Annington and Gagfah.
The company does not enjoy the best reputation in Germany due to its business model and is often