Hybrid forms of work and completions
Implementation of new working environments is still in full swing
“Smaller but better” is currently the motto of many companies when searching for the right location. While no compromises are usually made when it comes to the quality of equipment and location, some companies are reducing the size of their offices in the interests of efficiency. The
The trend remains unchanged that most companies are focusing on high-quality space when considering a new lease. Project developers are responding to this trend by planning and realizing particularly sustainable and high-quality office proper- ties.
This year, for example, the striking FRANCIS refurbishment in the Althan Quartier (approx. 47,700 sqm), the modern new GRAND CENTRAL building in Floridsdorf (approx. 12,500 sqm), the innovative project DOCKS in VILLAGE IM DRITTEN (approx. 9,000 sqm) and the particularly sustainable ROBIN Seestadt (approx. 10,000 sqm) in Aspern will be completed. The difficult financing modalities and high construction prices are still causing new construction developments to be postponed. The situation is not expected to ease in the short term.
implementation of flexible and hybrid forms of work (e.g. desk sharing, co-working spaces, reduced working hours) is a very good way of achieving this while maintaining the same number of employees.
The trend remains unchanged that most companies focus on high-quality space when considering a new lease.
Reductions in office space are currently mostly taking place on a smaller scale. The massive downsizing of office space that was implemented after the Covid pandemic through the sustainable introduction of hybrid working environments at banks, insurance companies and IT groups has largely been completed. This means that the volume of space offered for subletting is also declining significantly. The sublet space in prime locations (e.g. around the main railway station) was quickly rented out in full. In the vicinity of the Praterstern, for example, ready-to-occupy office space is still available for rent in the top-equipped Vienna Works, which is very popular with tenants.
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
06
Office Market Report
Powered by FlippingBook