EDITORIAL
DEAR READER
Looking into the future, we are also looking closely into the needs and demands that will be placed on the apartment of the future – whether Generation Y and future generations, or intergenerational and barrier-free living. Digitalisation and changing values will play a significant role in sustainable planning and in construction too. This and progress in au tonomous driving are developments with a major impact on properties. We at the BUWOG Group and EHL Immobilien have done our best to ensure that our customers and the residents of Vienna enjoy adequate housing with correspondingly high quality of living at the state of the art not just now, but in the future: residential property not only meets basic human needs, but also plays a major economic role in employment, innovation and growth as reflected not only in burgeoning market demand. This makes it all the more important for major players in the property market to shoulder their responsibility. BUWOG Group is one of the largest developers in Vienna and EHL Immo bilien is one of the leading real-estate service companies in Austria. As such, we place a lot of importance on passing on our expertise and experience in the housing market while providing a summary of the developments in the property market in this report. The report contains specific factors, perspectives and new developments in all twenty-three districts of Vienna.
We are proud to present the sixth edition of the First Vienna Residential Market Report in 2018, a joint publication by BUWOG Group and EHL Immobilien. The Mercer study has named Vienna as the city with the highest quality of life for the eighth time in a row, and it comes as no surprise that the Austrian capital faces a continuously increasing population with projections at around two million inhabitants by the year 2025. This development stems from the increasing attractiveness of urban areas as well as from immigration, but also from the ageing population demographic and increasing trend towards single households. As a result, demand has been outstripping supply on the Viennese housing market for years, a tendency that is still rising at a shortfall of more than ten thousand residential units per annum. Other factors include cheap credit and low interest rates further stoking demand. Promoting residential construction will be inevitable to counter this on going trend, especially towards the outskirts. However, developers face issues such as land scarcity and lengthy rezoning procedures in Vienna. ”Looking into the future, we are also looking closely into the needs placed on an apartment by upcoming generations.”
FIRST VIENNA RESIDENTIAL MARKET REPORT
www.residentialmarketvienna.at
We wish you a rewarding read with the First Vienna Residential Market Report 2018.
YOURS SINCERELY
Mag. Daniel Riedl FRICS CEO BUWOG AG
Andreas Holler, BSc Managing Director of BUWOG
Mag. Michael Ehlmaier FRICS Managing Director and shareholder of EHL Immobilien
DI Sandra Bauernfeind MRICS Managing Director of EHL residential property department
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