Echo-Archicom closes up Q3 with handover of more than 1,650 flats for sale and for rent

Echo-Archicom Group's summarizes three quarters of 2022 in the residential segment with sale of over 1,200 apartments and handover to clients, including Resi4Rent of over 1,650 apartments. To provide the best quality on the market and boost the number of cash buyers, the Group focuses on new, centrally-located projects to be launched. The company also announces construction of 4 thous. Resi4Rent units still this year.

In the third quarter of 2022 alone, the Group sold to individual clients over 175 apartments. The largest number of transactions concerned Browary Wrocławskie and Olimpia Port in Wrocław (Archicom) as well as Fuzja in Łódź and Wieża Jeżyce in Poznań (Echo). By the end of September both companies had started the construction of over 1,500 apartments for sale.

"Although 2022 was so far demanding for the housing market due to mainly the rising inflation and unstable situation on the construction materials market, the diversification of our Group allows us to flexibly respond to the changing needs of our clients. Because of the economic conditions, we focus mostly on cash buyers by expanding our offer of centrally-located projects. Our current offer is strong and well-balanced with demand and allows us to maintain prices and developer’s margin," says Nicklas Lindberg, CEO of Echo Investment.

In the third quarter of the year, Echo Investment-Archicom Group handed over 760 premises, from which 467 in Echo Investment’s projects.

"Echo Group landbank allows for pace of sales of nearly 2,500 per year for the next five years, therefore Echo has become very selective in buying new plots and is waiting for opportunities to acquire plots for the next destinations projects. Our financial standing and diversified portfolio show that we are well-prepared to more challenging times on the market which allows us to monitor it in search of new opportunities such as land and other companies’ acquisitions. What is important In more difficult times, customers pay more attention to the developer's stability and reputation. This is a factor that benefits both Echo Investment and Archicom. Both companies are stable, recognizable, offer high-standard apartments and professional service at every stage of sale," says Nicklas Lindberg.

Echo Investment plans to have 4 thous. Resi4Rent units under construction still this year. The demand for apartments for rent is very strong, which is proven by 100% level of lease of 2,450 Resi4Rent units in completed projects. The platform will have 3 thous. ready units in offer by the end of the year and by the end of 2024 it will achieve the target of 10 thous. ready and almost ready premises.

Photo: Echo-Archicom