Over 97 percent sales rate in SSM’s ongoing production at end of third quarter
The number of one- and two-room apartments sold in the Greater Stockholm area went up by 5.7 percent in the third quarter 2017 compared with the corresponding period in 2016. SSM, which is the market leading property developer in the Stockholm region within affordable housing for one- and two-person households, is continuing to meet this target group’s genuine need of housing. At the end of the third quarter, SSM had 1,414 homes in production with a sales rate of 97.1 percent.
The demand for small apartments in Stockholm County continues to be strong. According to Svensk Mäklarstatistik, a real estate consultancy, the number of one- and two-room apartments sold in the Greater Stockholm Area increased by 5.7 percent during the third quarter compared with the same period in 2016. For apartments measuring up to 45 m2, the increase was 6.2 percent for the same comparative period.
With 25 years of experience in developing housing, SSM is continuing to meet the demand in the Greater Stockholm area for affordable and functional housing mainly for one- and two-person households. At the end of the third quarter, SSM had 1,414 homes in production with a sales rate of 97.1 percent
- Our long-standing high sales volume in ongoing production confirms that offering housing for one- and two-person households at an affordable price is fully in line with a significant proportion of the demand in the Greater Stockholm area. From a consumer perspective, it’s important now that any changes in interest rate deductions and amortization requirements be clarified straightaway so that consumers can make well-informed decisions when they buy a home, says Mattias Roos, President & CEO of SSM.
During 2017, SSM has grown by an additional 1,172 building rights and today, the company has a high-quality and focused housing portfolio with close to 6,427 building rights. The entire portfolio has been acquired based on the demands of SSM’s target group: homes close to the city center and public transport. The company’s long-term goal is to offer 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing. Today, about 18 percent of SSM’s current building rights will be developed into rental units and 3 percent into student housing.
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About SSM Holding AB (publ)
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group — the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing. SSM is the leading property developer in its niche within the Greater Stockholm area and in October 2017, the company had approximately 6,500 building permits in its portfolio. SSM was listed on Nasdaq Stockholm (Mid-cap) April 6, 2017 www.ssmlivinggroup.se