EconPapers    
Economics at your fingertips  
 

Geopolitical Changes in Vienna’s Real Estate Market

Gunther Maier, Philipp Kaufmann () and Edwin Baroian ()
Additional contact information
Philipp Kaufmann: K Beratungs- und BeteiligungsgmbH
Edwin Baroian: CBRE

Chapter Chapter 11 in European Metropolitan Commercial Real Estate Markets, 2014, pp 281-300 from Springer

Abstract: Abstract This chapter deals with the development of commercial real estate in the city of Vienna. With the transformation of Central and Eastern Europe (CEE) and the integration of these countries and of Austria into the European Union, Vienna has moved from a peripheral to a much more central position in its market area. This positive long term development opened up opportunities for the city and for its companies. Austrian firms invested heavily in CEE countries, changing the country from a net-recipient of FDI to a net-investor. These developments had implications for the city of Vienna and for its commercial real estate market in particular, which are discussed in this chapter. After presenting the spatial and economic framework, we discuss the recent development of Vienna in the office and retail sector as well as some of the current hotspots of real estate development in the city. Then, we briefly characterize the institutional framework of the commercial real estate market in Vienna. In the last section we look at the dynamics of the market in the years since the turn of the century. Despite favourable conditions in the first half of the decade and the economic crisis in the second half, we find a high level of market stability with only small movements of key indicators like rents and vacancy rates. In the closing parts of the chapter we speculate about the reason for this stability and relate it among others to the positive long term development of Vienna's economic conditions.

Keywords: Impact political change; Institutional framework (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:adspcp:978-3-642-37852-2_11

Ordering information: This item can be ordered from
http://www.springer.com/9783642378522

DOI: 10.1007/978-3-642-37852-2_11

Access Statistics for this chapter

More chapters in Advances in Spatial Science from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2025-04-01
Handle: RePEc:spr:adspcp:978-3-642-37852-2_11