Market Trends
Green streets as an investment opportunity
Herwig M. Peham MRICS
Head of Investment EHL Investment Consulting GmbH
“Bordering on green and recreational areas“ is a classic location criterion. Above all in the densely built residential areas where the supply of Vienna’s investment properties is concentrated, the types of op- portunities are often few and far between. Consequently, small green oases in the surrounding area are even more important for the quality of life in a neighbourhood and for the medium-term and long-term investment perspectives of a location. Green cityscapes are currently under development, above all in street areas. As part of the programme “escape from
Mariahilfer Strasse (15 th District) and Christian-Broda-Platz (7 th District) near the Western Railway Station is scheduled to start in summer 2024 and will be accompanied by numerous streets of local importance like the Argentinierstrasse (3 rd District) and Bernardgasse (7 th District). These measures create new opportunities for the real estate market. A glimpse of green, the reduction of noise through trees and the cooling effects of planting are undisputed and increase the value of apartments and investment properties at inner city locations.
A rule of thumb for investors links an increase in the positive effects of greening and traffic calming with a reduction in the attractiveness of a residential location. These locations have recently come under growing price pressure which, consequent- ly, also creates particularly interesting entry opportunities. There is no master plan for greening pro- grammes, and the city often refers to the involvement of the districts. Investors who want to utilise this potential should turn to various information sources to learn where have citizens’ initiatives started, what requests the districts have communicated to the city government, where are bicycle boulevards planned etc. The wide-ranging know-how of a professional real estate advisor can pay off, especially through an information advantage, and eliminate the need for time-consuming research.
asphalt”, 100 million Euros is being invested in the greening of streets during the current legislative period. This invest- ment volume supports individual pilot projects as well as larger remodelling that significantly changes the character of mi- cro-locations. Current examples include the redesign of main
The announcement of plans for extensive street greening near a location opens a range of attractive possibilities for investors and developers.
roads like the Praterstrasse (2 nd District) and Wiedner Hauptstrasse (4 th District) as well as the traffic hub at Julius-Tandler- Platz (9 th District) where re-naturalisation and the planting of 40 additional trees has already started. Work on the Äussere
The announcement of plans for extensive street greening near a location (usually also connected with traffic reduction and more space for pedestrians and cyclists) opens a range of attractive possibilities for investors and developers.
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Investment Property Report
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