Echo Investment records high dynamics in apartment sales
The developer finished the first quarter 2017 with 76 percent growth in apartment sales and 100 percent growth in those delivered to clients.
The first quarter of 2017 was successful for Echo Investment in terms of apartment sales. The company sold 259 units, which is 76-pct more than in Q1 2016, when 147 units were sold.
In Q1 2017, Echo Investment provided its clients with keys to 90 apartments, which will be reflected in its financial results for the period. This doubles the number of completed units as compared to Q1 2016, when 46 apartments were finished.
“The strategy of profitable growth states that Echo Investment will reach the dominant position in all real estate sectors which it operates in. In residential sector we are halfway. However, the dynamics of the last quarters shows that in 2-3 years we are able to reach this strategic goal. That’s because we continuously extend our offer for very good investments, such as Browary Warszawskie, where soon we are going to start construction works of the third phase, ” said Nicklas Lindberg, CEO of Echo Investment.
In Q1 2017, the company started to build 491 units in Browary Warszawskie II in Warsaw, Osiedle Jarzębinowe IV in Łódź, Osiedle Perspektywa and Osiedle Jaśminowe III in Poznań.
“The residential market remains very strong and, at the same time, very stable. Interest rates continue to remain low. This encourages people to go for bank financing on one hand, and on the other – to invest the savings into apartments. Majority of our clients do not use bank financing, but treat buying an apartment as a long-term, safe investment. Besides, in Poznań we see high interest in our Osiedle Perspektywa, where one can buy an apartment benefiting from the state support program Mieszkanie dla Młodych,” said Dawid Wrona, Residential Sales Director of Echo Investment.
Currently, Echo Investment has 18 residential projects under construction, with over 2,000 units in total. By the end of the year the company plans to start construction and sales of another 10 investments with 1,277 units. As for now, there are over 1,060 apartments in Echo’s offer.
Press Release by Echo Investment