Challenges on the office market
Striking a balance be- tween ESG requirements and cost awareness
Current demand for new office space is strongly influenced by the need to imple- ment increasing ESG requirements. Compa-
Nevertheless, the quality of the fixtures, furnishings and location continue to only be reduced in exceptional cases.
The projects completed this year are characterised by their high standard of furnishings. Examples include the striking refurbishment of FRANCIS in the Althan Quartier (approx. 47,700 sqm), the new modern GRAND CENTRAL building in Floridsdorf (approx. 12,500 sqm) and the sustainable ROBIN Seestadt (approx. 10,000 sqm) in Aspern. Office space in the prestigious CARRÉ Muthgasse building (approx. 13,000 sqm) will also be placed on the market at the end of 2024 or beginning of 2025.
nies are seeking to introduce particularly employee-friendly and environmentally conscious concepts at their new office locations. To many companies, a relocation represents the opportunity to achieve innovative and future-orientated working environments, with priority always being given to sustainability and quality.
In a market shaped by this ten- sion between cost awareness and the quest for higher quali- ty, many letting processes are currently much more complex and time-consuming than they were just a few years ago.
However, high demands in terms of the quality of fixtures and fittings inevitably lead to rising rent prices and higher furnishing costs. In a market shaped by this tension between cost awareness and the quest for higher quality, many letting processes are currently much more complex and time-consuming than they were just a few years ago. Plans, investment costs and their distribution between tenant and landlord are closely examined and subject to intense negotiation. For economic reasons, companies are now often electing to reduce the size of their office space. This approach has been made possible by the introduction of flexible and hybrid working models such as desk sharing, co-working spaces or reduced working hours.
Prime locations 18.0 - 28.0
Standard locations 12.0 - 16.0
Quality locations 14.0 - 19.0
In €/sqm/month | EHL Rent Index of 100 existing and/or refurbished office buildings at various locations First-time occupancy rents
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Office Market Report
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