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

Immofinanz: „Difficult Office Market“

Due to the weak economic growth, the Austrian real estate company already sees difficulties in the Austrian rental market for offices.

October 22, 2011

Warimpex Hopes for Strong Year

The Austrian real estate company holds out the prospect of a dividend payment. EBIT is expected to increase by 20% this year.

October 21, 2011

Rents in Vienna Still on the Rise

Since the beginning of 2011, rents on the Viennese rental market increased by 2.0%. On average, the rent for one square meter is € 13.00.

October 17, 2011

Still Danger of Overheating in SEE Property Markets

According to the “Bank Austria Real Estate Country Facts”, commercial property markets in Croatia, Serbia and Slovenia are gaining ground, but risks of overheating remains.

October 15, 2011

CA Immo Commences Hotel Construction in Berlin

The Austrian real estate company invests € 53.2m in the Europacity development project. The hotel is scheduled for completion in 2013.

October 13, 2011

Immofinanz Opens Shopping Center Extension in Poland

The Austrian real estate company invested € 50m in the project, making it one of the top five shopping centers in Poland.

October 12, 2011

Immofinanz: Convertible Bond Raises Equity Base

After the expiration of a convertible bond, the Austrian real estate company anticipates a substantial rise in equity.

October 8, 2011

conwert Takes Over Property Management for German Tower Group

Additional management of more than 4,600 residential and approx. 300 commercial units in Berlin and North Rhine-Westphalia At 30 June 2011, Austrian conwert managed a total of 60,825 residential and commercial units.

October 5, 2011

Atrium Appoints New CFO

The Vienna-listed Atrium European Real Estate Limited, a real estate company focused on shopping centres in Central and Eastern Europe, announces the appointment of David Doyle as CFO, with effect from 1 January 2012.

October 4, 2011

S Immo Decides to Launch Share Repurchase Programme

The share repurchase programme of the Austrian real estate Group starts on 6 October 2011.

October 4, 2011

Upward Trend in CEE Real Estate Market

Erste Group: “CEE Real Estate stocks with upside potential of 15%, profitability lags behind”. The upward trend in CEE is driven by low vacancy, strong occupier demand and low pipeline.

October 3, 2011

New Chief Financial Officer for Immofinanz

Birgit Noggler was appointed to the Executive Board of the Austrian real estate company. She will take up the post on 1 October.

September 30, 2011

Strabag Realizes € 250m High-Rise Project in Berlin

The Austrian construction group will invest € 250m in a property in prime capital location. Completion of the project is expected in 2015.

September 29, 2011

Atrium Completes the € 191m Acquisition of Palac Flora in Prague

The Vienna-listed real estate group extends its-Czech portfolio, which now reaches 98 properties after Prague's largest real estate transaction in 2011.

September 27, 2011

Drastic Decrease in Profits for Immofinanz Group

The Austrian real estate company records increasing rental income in the first quarter of 2011/12. The decline in profits is due to foreign exchange effects.

September 26, 2011

conwert Establishes Its Own Sales Team in Austria

The Austrian real estate company cancelled its contracts with Resag and Wiener Privatbank to realize a savings potential of between € 1.5m and € 2.5m annually.

September 23, 2011

Immofinanz Acquires Property in Warsaw

The Austrian real estate company made its largest office property acquisition since 2008. The purchase price is € 102m.

September 22, 2011

Immofinanz 2011 Convertible Bond Conversion Period Ends October 6

The Austrian real estate company Immofinanz informs, that the conversion of the convertible bonds 2011 is possible only until 06 October 2011 at 4.00 pm (CET).

September 13, 2011

CA Immo Sells Major Stake of Skyline Plaza

Together with ECE, the Austrian real estate company sells a 80% stake on the project Skyline Plaza, which is a shopping center in Frankfurt, Germany.

September 12, 2011

Significant Growth for Austrian Leasing Business

In the first term of 2012, Austrian leasing companies experienced a 25%-growth. Total business volume amounted to €

September 12, 2011

Immofinanz Continues Sale Program in Austria

The Austrian real estate company reported the successful implementation of its five-year sale program. By 31 July property sales had generated proceeds of € 665.4m.

September 5, 2011

Negative Result for Warimpex

The Austrian real estate company recorded a loss of € 3.2m in the first half of the year. EBIT fell from € 13.4m to € 7.6m.

August 30, 2011

S Immo: Earnings more than Doubled in the First Half of 2011

The Austrian real estate company recorded EBIT of € 51.3m, up 70.6% year-on-year. Net income doubled to € 10.1m.

August 29, 2011

Sharp Rise in Earnings for CA Immo

Rental income of the Austrian real estate group increased by 54% in the first half of the year. EBIT amounted to € 112.4m, up 53% from the reference period.

August 25, 2011

Eco Business to Continue Redimensioning

The Austrian real estate company registered a strong decline in EBIT and incurred a net loss of € 3.0m in the first six months of the year.

August 24, 2011

conwert: Lower Income despite New Sales Record

The Austrian real estate company recorded a decline in income of 33% year-on-year. Proceeds on the sale of properties are expected to reach a total of € 600m in the full year.

August 17, 2011

Atrium with Significant Increase in Profit

The real estate company achieved a plus of 19.4% in net rental income in the first half of the year. Profit before tax increased by 8.9% to € 113.7m.

August 16, 2011

Financial Market Authority Terminates Inquiry against CEO of Immofinanz

The head of the Austrian real estate group had been accused of insider trading and delayed shareholder information.

August 12, 2011

Demand for Real Estate Remains on a High Level

In the first half of 2011 Austrians invested € 8.3bn in real estate. Vienna remained the number one region with a total volume of € 2.31bn.

August 10, 2011

Atrium to Develop Hypermarket in Poland

The real estate company will develop a shopping center in the city of Lublin for the French retail chain Auchan.

August 10, 2011

conwert Confirms Outlook after Half-Year Results

The Austrian real estate company expects an operating result of between € 61m and € 63m for the first half of 2011 and an increase of 15% for the full year.

August 8, 2011

Immofinanz with Strong Results in Financial Year 2010/11

The Austrian real estate company recorded an increase in net profit of 60% and will pay a dividend for the first time since 2007.

August 4, 2011

Bank Austria Finances Portfolio of Apartment Houses in Vienna

The Austrian bank generates a stimulus for Vienna’s real estate market and finances 53 apartment houses with € 110m.

August 2, 2011

Immofinanz Acquires Development Site in Poland

The Austrian real estate company plans to develop a shopping center in the Polish city of Lublin. Opening is scheduled for 2013.

August 2, 2011

Immofinanz Completed Sale of Office Campus Gasometer

The Austrian real estate company and its partner sold an office property in Vienna for € 75m to Bank Austria Real Invest.

August 1, 2011

Hypo Alpe Adria Sells Schlosshotel Velden

The Austrian bank signed a purchase agreement with Amisola Immobilien AG. Falkensteiner Michaeler Tourism Group will take over management of the hotel.

July 29, 2011

Warimpex Sells Hotel in Warsaw

The Austrian real estate company sells the Sobieski Hotel in Warsaw, together with an adjacent 6,000 square meter office building to Wenaasgruppen, headquartered in Norway.

July 28, 2011

Immofinanz Generated New Funds in Russia

The Austrian real estate company reached an agreement on the refinancing of its logistics center in St. Petersburg. The new funds will be invested in further projects in Russia.

July 21, 2011

Atrium Executes Settlement Agreement with Multi Investment

As a result of the agreement, the American-Israeli real estate fund will receive net cash of € 64m and generate a profit of € 156m.

July 15, 2011

German LBBW Starts Sale of Property Portfolio – conwert Interested

An acquisition of the real estate portfolio is not affordable for the Austrian group. However, it might enter a partnership and take over the asset management.

July 13, 2011

S Immo Increases the Occupancy Rate of its Hungarian Portfolio

The Austrian real estate company’s Hungarian subsidiary leased out nearly 4,000 m² in the heart of Budapest. The vacancy rate was reduced to below 9%.

July 7, 2011

CEO Volker Riebel Leaves conwert

The Austrian real estate company announced a new management structure: CEO Riebel leaves; the managing board will consist of two directors.

July 6, 2011

conwert Interested in Billion-Euro Deal with LBBW

The Austrian real estate company is looking for partners to purchase the residential property portfolio of the German bank. Industry experts see a realistic chance for an acquisition.

June 20, 2011

CA Immo: Uniform Brand Appearance also in Germany

In the future, the Austrian real estate group’s German subsidiary Vivico Real Estate GmbH will operate under the brand "CA Immo".

June 20, 2011

Atrium and Meinl Bank Agree to Stop All Legal Proceedings

The American-Israeli real estate fund and the Austrian bank reached a settlement agreement on the dismissal of all claims between them.

June 17, 2011

Immofinanz Acquires Romanian Property Developer

The Austrian real estate company buys the remaining stake for € 42.43m in order to become sole shareholder of Bucharest-based Adama.

June 16, 2011

Immofinanz Acquires Office Property in Warsaw

The Austrian real estate company already held 51% of the property and is now becoming the sole shareholder. The transaction includes the sale of another object to a project partner.

June 10, 2011

Immofinanz Sells Funds for € 137m

The Austrian real estate group decided to sell its financial investments as it is focusing on its core business. 18 funds worth € 160m are still held by the company.

June 8, 2011

Immofinanz Considering Listing in Warsaw

The Austrian real estate group would be interested in a listing if red tape were reduced. It is currently looking for acquisition opportunities in Poland and Russia.

June 7, 2011

CA Immo Starts Work on Shopping Center in Frankfurt

The Austrian real estate group and its joint venture partner invest € 360m into the project. The opening will take place in fall 2013.

June 1, 2011
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