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EDITORIAL DEAR READER
issues such as: What role does digitalisation play in the residential space? How can we best combine sustainability and affordability in residential de- velopment projects? How will future residential project planning respond to the increased trend of working from home in the light of the pandemic? We will be going into this last question on page 14.
We are pleased to present the First Vienna Residential Market Report, the ninth edition of our joint publication.
THIS HAS BEEN A TURBULENT YEAR with the pandemic leav- ing its mark on every aspect of the economy, resulting in long-term ef- fects for many. The real estate industry has not remained unscathed by the crisis, although the residential market is showing significantly more stability: The demand for residential accommodation remained high in 2020 – probably due to the fact that residential property is a safe form of investment in general. THE HIGH DEMAND also resulted from constantly increasing numbers of one-person households and the continued rise in Vienna’s population, which is due to reach the two million mark in 2028. In contrast, property developers in 2021 will still have challenges to face as land available for development has become scarce in the capital and construction costs are still increasing despite the pandemic, although less dynamically than in previous years. WE AT BUWOG as the largest private housing developer in Vienna, AND EHL IMMOBILIEN as a leading real estate services provider, continuously analyse the opportunities, risks, and trends affecting the Viennese housing market. The past year has brought even more focus on the home, raising
“The past year has brought even more focus on the home, raising important questions concern- ing the housing market.”
IN THE FIRST VIENNA RESIDENTIAL MARKET REPORT, we will be sharing our experience and expertise for a more in-depth and com- prehensive insight into the market. THIS REPORT INCLUDES details on developments, prospects, and special feature considerations that apply to the Viennese housing market to help in making a decision when looking for a place to live.
FASCINATING FACTS AND FIGURES are available as you browse through the 2021 First Vienna Residential Market Report. ×
YOURS SINCERELY,
Mag. Daniel Riedl, FRICS Member of the Management Board, Vonovia SE
Andreas Holler, BSc Managing Director, BUWOG Group GmbH
Mag. Michael Ehlmaier, FRICS Managing Partner, EHL Immobilien GmbH
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