Echo Investment, which runs the largest apartment rental business in Poland, earned in the third quarter of this year. PLN 28 million, with rental income of PLN 13 million. The Safe 2% chalk program launched during the summer contributed to this result.
Resi4Rent, a company owned by Echo Investment, is the largest company in Poland dealing in private apartment rental. It currently offers 4,000. 106 premises in 12 locations in the six largest cities. Almost the entire offer has tenants, for 4.1 thousand. rented apartments, only 81 are still waiting for tenants. There are currently 4,000 units under construction. 300 apartments for rent.
Echo Investment earned almost PLN 30 million
Data provided by Business Insider Polska show that in the third quarter of this year, the Echo Investment group earned PLN 28 million net from renting apartments. The website notes that this profit was achieved with rental income of PLN 13 million. This is due to the fact that the valuation of rented properties improved the company’s result by as much as PLN 49 million
The government program Safe Credit 2% was launched at the beginning of July. caused apartment prices on the market to break previous historical records. As a result, Echo Investment’s books mention 4.1 thousand rented premises built at a cost of PLN 1.2 billion and PLN 4.3 thousand under construction with an expected budget of PLN 1.7 billion increased its value. If Echo decided to sell them, it would obtain PLN 49 million more on the market than at the end of June this year.
The most apartments in Warsaw
According to the data quoted by the portal, Resi4Rent rents the largest number of apartments in Warsaw, i.e. nearly 2,000. The next places are taken by Wrocław and Kraków (962 and 535, respectively). The largest number of apartments under construction are currently in Wrocław and Gdańsk (1,571 and 934, respectively).
Apartment prices range from PLN 2.7 thousand. PLN for one room up to PLN 6,000. PLN for four rooms, depending on the city and location. The total budget of rental apartments built and under construction is estimated at PLN 3 billion.