Viennese Office Market Records New Low

Professional ServicesReal Estate ♦ Published: September 16, 2013; 07:42 ♦ (Vindobona)

The property market of Austria´s capital becomes less attractive. Since 2008, the production of new office space goes down.

Viennese Office Market Records New Low / Picture: © UN Vienna

Since 2008, Vienna ´s office property market tends to oversaturation. This year, real estate experts expect a record low in production of new office space. According to Michael Ehlmaier, the production will go down to 150,000 square meters this year. “Also in 2014, the production will shrink considerably.” Ehlmaier says.

In general, Vienna´s property market tends to…