SSM to increase production of rental units to 50 percent and focus on developing co-ops in the 1.3 to 2.2 MSEK price range – 400 redesigned co-ops to be relaunched in Q1 2019
SSM plans to increase production of rental units from 30 to 50 percent of its portfolio at the same time as it will focus on developing space-efficient and flexible co-ops in the 1.3 to 2.2 MSEK price range. This is intended to strengthen the company’s offering to younger buyers and people living in one-person households. SSM will focus on more rental projects in the near future and will relaunch 400 redesigned cooperative units in the given price range during Q1 2019 within the framework of the Bromma Boardwalk, Elverket i Nacka and Täby Market projects. The company’s financial targets will remain unchanged.
SSM has a clear vision: to put home ownership within the reach of more people. Based on this vision, SSM’s housing concept is develop smart, affordable homes. By smart, SSM means that its homes are space-efficient, environmentally-friendly and multi-purpose with shared spaces and services, close to public transport. By affordable, SSM means that people with ”normal” incomes or on student allowances can afford them. SSM also believes that offering different forms of tenancy leads to safer, more attractive and more vibrant communities. This is why the company aims to develop a mix of cooperative units, rental units and student housing. In total, SSM has built about 3,500 homes in the Greater Stockholm area, most after 2012.
Young adults and people living in one-person households are continuing to find it difficult to acquire homes with reasonable rents or price tags. The increased amortization requirements introduced during the year have contributed to locking out this target group from the housing market in Stockholm. To make it easier for people to enter the market, SSM will intensify production of rental units at the same time as it will focus on developing space-efficient and flexible cooperative units in the 1.3 to 2.2 MSEK price range.
As part of this focus, SSM plans to develop more rental projects in the near future. At the same time, 400 cooperative units will be redesigned to fall within the given price range and relaunched during Q1 2019 in the Bromma Boardwalk, Elverket i Nacka and Täby Market projects.
- SSM has a highly competitive and flexible project portfolio, which makes it possible for us to continue to grow steadily by adapting our product mix and housing concept based on changing market conditions, says Mattias Roos, President & CEO of SSM.
SSM has about 6,500 building rights in its project portfolio, of which 40 percent can be developed into rental projects. Following the announcement, the company’s financial targets will remain unchanged.
For more information, please contact:
Ann-Charlotte Johansson,
Chief Communications & IR Officer
Phone: +46 761 65 17 71
Email: ann-charlotte.johansson@ssmliving.se
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 50 percent cooperative units and 50 percent rental units. SSM is the leading property developer in its niche within the Greater Stockholm area and in September 2018, the company has approximately 6,500 building permits in its portfolio. SSM was listed on Nasdaq Stockholm (Mid-cap) April 6, 2017 www.ssmlivinggroup.se
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