Varia US Properties company records profit of CHF 30.6 million

The Varia US Properties company, which has its headquarters on Zug’s St Oswald Gasse, has recorded an operative profit of CHF 30.6 million in the first results published since the flotation of the company on the Swiss stock exchange last December.
 
As the company announced in its report, it has been able to profit from changes in the US housing market, where the number of tenants is increasing while the number of those who opt to buy is falling. In all, the company received CHF 36.5 million in rent over the course of 2016.
 
In fact, between the period 28 September 2015 and December 2016, the company’s income rose to CHF 64.6 million, thanks to acquisitions and other business. As of the end of 2016, the company disclosed it owned as many as 38 properties, worth $343.5 million in all.
 
Furthermore, the company is looking to the future with confidence and aiming to benefit even more from the trend in the increasing popularity towards multi-family dwelling units. It was also mentioned how the election of Donald Trump as president is likely to have a beneficial effect on the company, with workers expected to be paid higher wages, with which they will be able to afford higher rents.
 
The company does not deal in property in Switzerland, the United States being its sole area of activity, concentrating on metropolitan areas there.