Swiss Estates expects significantly higher rental income in 2024
As the initial letting of a residential complex in the canton of St. Gallen is going unexpectedly well, net rental income should increase by almost twelve percent, the real estate company announces.
About a year ago, Swiss Estates acquired a residential complex under construction in Rüthi (SG). The development consists of three apartment buildings with 39 apartments and 61 underground parking spaces. As the real estate company has now announced, the buildings are now largely complete and the first lettings have been underway since October 2023.
At the end of January, the occupancy rate had reached 95 percent, with only two of the 39 apartments still unlet. Swiss Estates describes this as "an unexpectedly clear letting success". As the new properties are now also generating income, the budgeted company-wide net rental income for 2024 is around CHF 7.6 million, an increase of 11.8% compared to the previous year (CHF 6.8 million). Gross rental income will reach around CHF 8.5 million - after CHF 7.5 million in the previous year (+CHF 13%). (ah)
