Simon Owen’s Ingenia has reported an 86% increase in its unit price over the past 12 months, during which it transferred from ING Real Estate Communities to its new entity Ingenia. Since June the unit price has increased from 19 cents to 28 cents alone. He claims there is room for more growth to the mid-30 cents level. Their nominal profit was $13.1 million.
After eight years of rental villages being basket case investments Ingenia states their higher occupancy levels are generating a 42% ave. margin and a $5,400 ave. profit per unit per year. Each rental unit is now valued at $59,000.