Development of purchasing power per resident
2 % 1.5 % 1 % 0.5 % 0 % -0.5 % -1 % -1.5 % -2 % -2.5 % -3 % -3.5 % -4 %
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
2020
2021 2022 2023p
Source: RegioData Research GmbH 2023
performance of the luxury segment has recently been outstanding, and the strong demand from this segment has led to record rents in the absolu- te top locations. On the Kohlmarkt in Vienna’s first district, rents have risen up to EUR 600/sqm for smaller spaces and up to EUR 250/sqm for areas over 400 sqm.
which continued during 2022 and 2023 and is again moving within a normal range of 1.5 to 2.0 percent per year. The mounting resistance against new retail areas – keyword: ground sealing – also leads to expectations that the very limited volume of new space entering the market will be unable to offset the annual reduction. Consequently, neither a substantial reduction in vacancies nor a decline in rents can be expected.
Another positive factor for the use of existing proper- ties is the steady decline in total selling space,
Retail sales in Austria
€ 110 B. € 100 B. € 90 B. € 80 B. € 70 B. € 60 B. € 50 B. € 40 B. € 30 B. € 20 B. € 10 B. € 0 B.
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023p 2024p 2025p
Source: RegioData Research GmbH 2023
Online turnover (gross)
Stationary turnover (gross)
7
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