Germany’s largest residential property group Vonovia has returned to profit in the first quarter after a multi-billion-euro loss in the previous year. Net income for the three months to the end of March totalled €335.5 million ($360 million), the DAX-listed company announced on Tuesday. In the same period of the previous year, Vonovia had suffered a loss of just under €2.1 billion due to a devaluation of its property portfolio. At just under €83.7 billion at the end of March, the value of the property portfolio remained almost stable compared to the end of 2023. The bottom of the value trend i…