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Vienna International Real Estate Market and Property News
Read the latest headlines about developments in Vienna's and Austria's real estate industry and property market


Immofinanz: Net Profit for 2013/14 at EUR 180 Mln, Property Sales Top EUR 1 Bln

Immofinanz Group announces net profit totalling EUR 180.4 million for 2013/14, for a year-on-year increase of 62.8%. Rental income was lower as a result of the extensive, planned property sales. The delayed completion of the GOODZONE shopping center in Moscow prevented the full recovery of this decline during the past year. Rental income amounted to EUR 506.7 million (-7.2%) and results of operations totalled EUR 319.2 million (-19.5%). In like-for-like comparison (i.e. after an adjustment for new acquisitions, completions and sales), rental income was generally stable (-1.3% to EUR 472.7 million). Property sales set a new record at roughly EUR 1 billion.
August 4, 2014


Event: 21st Austria & Advantage Austria: Re-Think Central and Eastern Europe - An Austrian Perspective

On September 23, 2014, 21st Austria and Advantage Austria UK will host a panel discussion at the City of London's Gherkin skyscraper. Herbert Stepic, former CEO of RBI Raiffeisen Bank International and Georg Karabaczek, Austrian Trade Commissioner for the UK will focuse on the topic "Re-Think Central and Eastern Europe: An Austrian Perspective on Diversity in Performance, Challenges and Avenues of Growth". Panellists also include Pasquale Diana, Mario Holzner and Eduard Zehetner.
August 1, 2014


Analysis: Russia - Assessment of EU and Tightened US Sanctions

Special analysis covering the most recent escalation in terms of Western economic and financial sanctions against Russia: EU and US sending bold diplomatic signals without inflicting too much near-term economic and financial damage. In comparison to the US sanctions by the EU are capped in duration. Recent escalation adds to uncertainty in doing business with Russia, which is an ultimate goal of sanctions. Near-term impact of current sanctions still limited, which implies a risk that they may remain for longer.
July 31, 2014


Austrian FDI: Current Developments 1Q 2014

In the first quarter of 2014, Austrian FDI abroad reached a value of 2.8 billion euros, which is less by about 30% than in the same period of 2013. Foreign direct investments in the same period into Austria stood at 1.4 billion euros. This is about 37% less than in the same period of last year.
July 29, 2014


Immofinanz Sells Two Logistics Properties in Poland and the Czech Republic

Immofinanz Group sold two logistics properties – the Bokserska Distribution Park in Warsaw and the Westpoint Distribution Park in Prague. Both transactions took place above book value, with the combined proceeds totalling approx. EUR 33.2 million. The Westpoint Distribution Park was sold to Central Group, a Czech investor, while the Bokserska Distribution Park was sold to “UK & European Investments“, a well-known family office from Great Britain.
July 28, 2014


Volksbank Romania Sells EUR 495 Million NPL Real Estate Portfolio

Volksbank Romania has reduced its non-performing loans portfolio (NPLs) through the sale of a NPL real estate portfolio with an aggregate volume of € 495 million. The Bank has sold the large-volume real estate financing commitments to an international investors consortium composed of Deutsche Bank, AnaCap Financial Partners LLP, H.I.G Capital International Advisers and APS Holding SE. With this transaction, Volksbank Romania has reduced its NPL portfolio to a NPL ratio of below 8%, below the average in Romania's banking system.
July 28, 2014


Bank Austria Takes Over Immobilien Holding from Immobilien Privatstiftung

UniCredit Bank Austria AG intends to buy Immobilien Holding GmbH/Group, which has so far been wholly owned by Immobilien Privatstiftung. The purchase agreement has been signed today, subject to consent by the Bank Austria supervisory board and subject to approval by the Austrian competition authorities. The purchase price will not be disclosed.
July 25, 2014


Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City

The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).
July 25, 2014


Vienna Stock Exchange Raised EUR 3.1 Billion in Capital in 1HY 2014

In the first half of 2014, Austrian companies raised more than EUR 3.1 billion in fresh capital through the Vienna Stock Exchange. This volume is larger than the aggregate volume of the past two years (transaction volume 2012 and 2013: EUR 2.1 billion) and the highest level achieved since 2007. The volume consists of the capital increases of Raiffeisen Bank International (EUR 2.78 billion), Porr (EUR 120 million), and the successful initial public offering of FACC (around EUR 213 million).
July 2, 2014


BUWOG Closes Acquisition of DGAG Portfolio

The BUWOG Group has closed its acquisition of approx. 18,000 units in Northwestern Germany after antitrust clearance by the German Cartel Office and completion of further conditions precedent according to schedule.
June 30, 2014


Latest Update of the RBI Risk Indicator

The RBI Risk Indicator hast been updated today. It fell by around 14.9% overall and still stands below its 150-day moving average. The RBI Risk Indicator is a quantitative indicator that serves primarily as a short-term decision support instrument for high-risk investments.
June 23, 2014


Austrian Investment Funds Report Generally Positive Performance in May

Austrian investment funds recorded a mostly positive y/y performance at the end of May. Of the 1,604 funds operating on the market for at least one year, 1,338 showed a positive performance, while 262 of them saw a y/y negative performance. Four funds saw no change of the asset volume.
June 16, 2014


CEE-Initiative: Strengthening Investment Fund Business in Central- and Eastern Europe (CEE)

The Hungarian association BAMOSZ and the Austrian association VÖIG initiated a closer collaboration and tighter co-operation between fund associations in CEE, the so-called „CEE Initiative“. The member associations of the „CEE Initiative“ are (in alphabetical order): Austria, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Poland, Romania, Slovakia, Slovenia and Ukraine.
June 16, 2014


VÖIG: "In 2013 Retail Investors Continued to be Timid and Shy"

From the viewpoint of retail investors the year 2013 could have been really easy: a mixed fund portfolio with an increased share portion and selected corporate and government bonds. In retrospect, 2013 proved to be almost free of financial market turbulences after years of global financial market and economic crises as well as the debt crisis in the euro area.
June 14, 2014


Billionaire Sheikh Al Jaber Sues Immoconsult and the Schwarzenberg Foundation

Due to a failed hotel project in Vienna real estate affiliate of Volksbank, Immoconsult, is facing a lawsuit by the Austrian/Saudi Arabian investor Mohamed Al Jaber.
May 21, 2014 · Updated: May 21, 2014; 18:51


S IMMO AG: Offer to Exchange S IMMO INVEST Participating Certificates to Open Tomorrow

Vienna based real-estate developing Company S Immo AG announces its offer to exchange S IMMO INVEST participating certificates for bonds.
May 20, 2014


Conwert Slips into the Reds

Austrian residential real estate enterprise is facing a hard time in Germany.
May 14, 2014


Austria: Calls for More Competence in Real Estate Management Become Louder

Stock Exchange Guru Alexander Proschofsky and real estate expert Peter Hohlbein are fighting for a seat at Conwert’s administrative board. Proschofsky has been criticizing the strategy of the listed Austrian real estate company.
May 5, 2014


Immofinanz: Changes at Executive Board

Immofinanz – Dietmar Reindl appointed to the Executive Board
April 30, 2014


Buwog Soon to be Listed at Three Stock Exchanges

Immofinanz‘ residential real estate affiliate Buwog will celebrate its IPO at the stock exchanges in Frankfurt and Vienna on Monday, April 28 and in Warsaw on Tuesday, April 29.
April 24, 2014


Vienna Real Estate Market Hopelessly Overstrained?

Real estate trustees in Vienna demand a limit to state-subsidized apartments and call for “unrestricted” rents.
April 23, 2014


Romania: Huge Increase in Commercial Real Estate Investments

Investments in commercial real estates rose by 256 percent year-on-year in Romania. However, investments in CEE declined.
April 18, 2014


Discrepancies on Austrian Real Estate Market

Because of the high rents the city of Vienna intends to do away with location premiums. Listed real estate company Conwert announced raising its rents by May 1.
April 18, 2014


Czech Republic: Interest on Mortgage Loans Dropped

Interest ratest on mortgage loans dropped to a record low to 2.93 percent last month.
April 18, 2014


Immofinanz: Ownership Problems in Romania

According to a court decision Immofinanz has took over not legitimately acquired property in Transsylvania.
April 17, 2014


Conwert to Leave Germany?

A consortium of investors is highly interested in the German subsidiary of the Austrian real estate group. The consortium is led by conwert´s former board director Johannes Meran.
April 16, 2014


Massive Dispute at Conwert

The Austrian real estate group faces troubles: representatives of small shareholders want to join the administrative council. Major shareholder Hans Peter Haselsteiner wants to dispatch his own representatives.
April 15, 2014


Vienna: Luxury Real Estate Segment Booms

In contrast to the general trend in Austria, the properties in Vienna become more and more expensive. About 25% of the apartments cost more than € 500,000.
April 15, 2014


Austria: Immofinanz to Remain in ATX Five

As announced on 4 March 2014, the ATX committee discussed about the future membership of Immofinanz AG in the ATX five.
April 10, 2014


S IMMO AG: Letting success in Sofia

The first quarter of 2014 brought encouraging successes in letting for S IMMO AG in Sofia, one of the company’s most challenging markets.
April 9, 2014


Hypo Group: Heavy Burden for Austrian Fiscal Position

The Austrian National Bank, however, expects the structural medium-term budgetary objectives to be achievable.
April 7, 2014


Wealthy Investing in Real Estates in Vienna

Vienna is considered a “safe haven” for real estate investments. In particular, luxury homes, such as the Palais Principe for instance, are more than attractive for wealthy investors.
April 4, 2014


Massive Tensions in Vienna´s Residential Property Market

In Austrian capital, rents are increasing unstoppably. Demand is still much bigger than supply.
March 31, 2014


Slovenia: Danger of Tax Increase

Because of the failed introduction of the property tax Finance Minister Uros Cufer suggested an inrease in VAT to compensate for the losses in revenue.
March 31, 2014


Conwert to Withdraw from CESEE

The Vienna-listed real estate group wants to sell its assets in Central, Eastern and Southeastern Europe. The sales proceeds are expected to reach up to € 200m.
March 29, 2014


Slovenia: Controversial Property Tax Fails

The Slovenian Constitutional Court has rejected the controversial property tax suggested by the government. This will jeopardize this year’s budget.
March 28, 2014


Slovenia: Chaos around Real Estate Tax Continues

On Thursday the Slovenian National Assembley will pass amendments to the highly debated real estate tax.
March 27, 2014


Real Estate in Vienna: Offer Does Not Catch up Demand

There is a growing trend towards population increase as well as small households in Vienna.
March 25, 2014


Austria: No Changes to Land Transfer Tax

There will be no tax hikes in the near future concerning the inheritance of property within families. The draft law of the Finance Ministry also includes the exemption of business successions.
March 24, 2014


Slovenia: Considerably Fewer Building Permits Issued

Almost a quarter fewer building permits were issued in January in Slovenia.
March 21, 2014


Slovenia: Government Confirms Tax for Residential Property

The government has confirmed the changes adopted for the introduction of the real estate tax.
March 20, 2014


Conwert Achieves Turnaround

The Austrian real estate group returns to the profit zone. Last year, net income totaled € 49m.
March 19, 2014


Immofinanz: Substantial Increase in Profits

In the first nine months of 2013/14, the Vienna-listed group registered an increase in net income by 7.1%. For the time being, Immofinanz is not affected by the Crimea crisis.
March 19, 2014


Slovenia: Confusion over Real Estate Tax

The deadline for real estate owners to prepare for the new real estate tax has been extended by a month.
March 19, 2014


CA Immo: Considerable Drop in Net Income

Financial results 2013: CA Immo achieves record operating result. Balance sheet strengthened, Net Asset Value up 6%.
March 19, 2014


VBAG: Romanian Affiliate Sells Bad Loan Portfolio

The ailing affiliate of Austrian partly nationalized VBAG will sell its non-performing loans on a large scale.
March 18, 2014


Immofinanz: Buwog’s Spin-Off Approved

In an extraordinary shareholder meeting, the spin-off of residential real estate affiliate of Immofinanz was approved by the shareholders.
March 14, 2014


Austria: Hypo Group Disaster with Exorbitant Costs

The extent of the disaster of Austrian problem bank Hypo Group Alpe Adria only starts to unfold bit by bit. A further capital injection of € 750m is needed only for the ailing bank to complete its balance sheets.
March 11, 2014


Austria: Looming Real Estate Bubble in Vienna

While the official opinion is that there are dangerous price tendencies, some experts warn of the danger of a real estate bubble in the Austrian capital.
March 11, 2014


Austria: Prices for Luxury Real Estates Soaring

The prices for luxury real estates in Austria continue to increase.
March 10, 2014