Austrian Office Market: Boom is Over

People ♦ Published: January 20, 2014; 07:13 ♦ (Vindobona)

The increase in new construction has reached a new low. According to Bernhard Reikersdorfer (CEO of Remax Austria), the price situation will remain stable.

Austrian Office Market: Boom is Over / Picture: ©

In the last few months, the Viennese office market has lost momentum. After a short boom in the years from 2010 to 2012, the price level does not grow further. “In general, the prices per square meter will remain unchanged. However, in many cases, lessees need concessions from their lessors.” In the Austrian market as a whole, the price level is expected to decrease by 5%,…