EHL Office Market Report Vienna | Spring 2022

Modernisation measures and quality on the rise in the Vienna office marke

The corona pandemic, which is now moving into its third year, has triggered an innovation and quality offensive on the Vienna office market. The establishment of flexible, remote forms of working on a large scale has significantly changed office-space requirements in general, as well as the specific demands users place on the office spaces they occupy. More specifically, physical offices are being transformed from places that focus solely on traditional forms of work into spaces for teamwork and communication. Remote working now a matter of course The increase in quality is due to the fact that the establishment of remote working means that physical offices are now facing strong competition from other locations where digitalisation makes it possible for people to work (e.g. at home, at a vacation home, etc.). In addition, certain modern requirements cannot be met in some existing office properties and spaces, and companies are therefore looking for new locations where new workplace concepts are easier to implement.

The common areas in modern offices are now based on hotel and lounge concepts. In other words, less space is reserved for directly assigned workstations, while more space is used for activity-based working and communication. The competition for the most sought- after talents is leading to new ideas and concepts The ability to offer flexible forms of working is viewed by some companies as an effective way to attract and retain employees in the race to acquire the best minds. The introduction of more flexible working models was a frequently heard promise during the corona pandemic, and a num- ber of companies plan to retain these options. However, the office remains the central location for work in most cases. Offices therefore need to be made very attractive places to work – places that offer a pleasant working environment and possibilities for collaboration, communication and team and company events.