People, Markets, Possibilities:
2019 REAL ESTATE MARKET REPORT Austria
For the 10th time in a row, Vienna tops Mercer's 2019 "Quality of Living" ranking. This result naturally also affects the real estate market, which is clearly demonstrated by the current figures summarized by Colliers International in our 2019 Real Estate Market Report Austria.
The final investment volume will reach € 4 billion by the end of this year, well above the long-term average, proving that real estate investments are still in vogue. Tourism is booming, and the hotel industry will once again enjoy record numbers in 2019.
Due to the large number of large-volume completions in the previous year, the office market is showing signs of consolidation in 2019, and is increasingly facing new challenges. Living and working habits are changing and serviced office providers are becoming increasingly important.
Not least because of the Mercer rankings, Vienna also remains a shopping hotspot internationally, with the Graben still occupying the top position among all shopping streets. Retailers and restaurateurs, however, feel the increasing pressure, especially from their virtual competition, as is reflected in many new developments and concepts to maintain or even increase physical customer frequency.
The areas of industrial and logistics are also subject to continuous change. Flexibility is key, and modular units are on the rise. The same applies to the housing market, where the demand for luxury real estate remains constant, but is accompanied by parallel developments of new living concepts and smaller, flexible housing units.
In short: society is constantly evolving, and so is the market. The new possibilities resulting from these constant changes are now presented in the form of our 2019 Real Estate Market Report for Austria, by the people who work behind the scenes all year round: your team of dedicated experts from Colliers International.