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Viennese Office Market: Collapse Threatens
Although office rents are relatively low in Austria´s capital, multinational companies tend to establish their headquarters elsewhere. Real estate experts fear a vicious circle.
Viennese Office Market: Collapse Threatens / Picture: © Vindobona.org
Recently the tobacco group JTI and the U.S. Coca-Cola have downsized their offices in Vienna. Moreover, rumors over a withdrawal of UNO´s operations arose. “If that should happen, then Austria has a real problem. By comparison, Austria is relatively cheap anyway.” Wolfgang Vejdovsky, CEO of PwC commented.“ Rents in all Western Europe´s capital are higher, even Warsaw became more…
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