Real Estate: Vienna´s Office Market Saturated

Professional ServicesReal Estate ♦ Published: February 15, 2014; 11:24 ♦ (Vindobona)

In contrast to office markets in CESEE (Central, Eastern and Southeastern Europe), the Viennese office market has no major projects in the pipeline. The growth potential is rather limited.

Real Estate: Vienna´s Office Market Saturated / Picture: ©

The Viennese office market is dominated by replacements. After a short boom in the years between 2010 and 2012, the Viennese office market is not characterized by speculation anymore. According to Franz Jurkowitsch, former CEO of the Austrian real estate developer Warimpex, the office market in Vienna is stagnating.

Friedrich Wachernig, board member of the Austrian real estate…