In the first half of the year, the investment market was almost stable compared to the same period of the previous year. Overall, the long-term average of approximately EUR 4.0 bn is expected to be achieved.
Letting performance has been better in the first six months of this year than in the first half year of the pandemic. Nevertheless, a lower overall result is forecast as the vacancy level is already low and few new spaces are being completed.
Completion records in Vienna and Graz are accompanied by rising purchase prices. The global shortage of building materials makes the situation difficult for developers, as price negotiations are unpredictable.
The reopening of the retail sector is driving sales and confidence in the market. Despite the absence of a wave of bankruptcies, perceived opportunities in the crisis have led to the highest number of new market entries since 2018.
The logistics market continues to boom. Rising e-commerce figures continue to be the main driver for the increasing demand for logistics space, which can increasingly be met by large project developments.
Fewer travel regulations have resulted in increasing numbers of arrivals and overnight stays. An extension of government aid measures prevented a large part of the forecasted emergency sales. After a long period of concern, the hotel sector is optimistic once again.