editorial
03
Dear Reader,
Pandemic aside, new challenges for the real estate industry dominated in 2022. Inflation, price hikes, energy crisis, new lending regu- lations, and the war against Ukraine have left their mark on the market. The year 2023 will also put many businesses and companies to the test across the gamut of industries and specialisations with increased real estate costs reflected in temporarily post- poned construction kick-off dates, which may exacerbate the supply situation even more. Even so, the Viennese housing market still holds plenty of potential for developers thanks to consistently high demand. We are pleased to provide a broad and deep overview of current developments, trends, and opportuni- ties in our eleventh edition of the First Vienna Residential Market Report, a joint publication by BUWOG and EHL Immobilien. The past decade has seen our report grow into an established and relevant reference work, one that has gained even more significance in the face of all the change and uncertainty in recent times. The wealth of content in the Residential Market Report provides wide-rang- ing benefits. We have generated our compre- hensive market expertise using annual data collection and research, incorporating the data directly into our projects and services; the main beneficiaries are our customers and
business partners. Apart from that, the report provides a solid source of information for the many apartment seekers in Vienna also anticipating exciting project completions in 2023, and no less importantly, city planners, municipal departments, scientific institutions, institutional investors, and other stakeholders. Last year’s completion boom warrants a fresh analysis of market activities alongside a risk and opportunity analysis as never before, especially with regard to the globally tense economic situation together with changes in housing and living habits as well as new re- quirements on residential real estate. Despite the new challenges, the Vienna housing market still holds plenty of poten- tial for developers thanks to consistently high demand.
We have every reason to look forward to what the New Year has in store for us, and wish you an exciting read as well as a successful 2023 on the Vienna housing market.
Yours sincerely,
Mag. Daniel Riedl FRICS Director, Vonovia SE
Andreas Holler BSc Managing Director of BUWOG Group GmbH
KommR Mag. Michael Ehlmaier FRICS Managing Partner of EHL Immobilien GmbH
Karina Schunker MA MRICS Managing Director of EHL Wohnen GmbH
FIRST VIENNA RESIDENTIAL MARKET REPORT 2023
Powered by FlippingBook