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Austrian Real Estate: Increased supply of 339%
Office space supply is on rise, but demand is lagging behind. Prime rents and yields went down y/y.
According to the latest Sector Report from Erste Group Research, in the first half of 2010, Vienna witnessed an increased supply of 339% y/y to 145,000 sqm of new and refurbished office space, after new construction of office buildings had been reduced substantially during the past two years.
This relatively strong growth can be explained by a few major projects completed in…
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