MIPIM 2019 (24.1 MB)

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Positions & Opinions rental market has gained momentum considerably. There seems to be a buyer for every property in every condition. There is so much liquidity that actually all buildings find a buyer. By liquidity I don't mean the money that the European Central Bank is pumping into the market, but the liquidity that the investors generate by creating a frequent turnover of the properties. In the past, real estate was bought and kept for 10 or 15 years. That is now the exception. The investors' strategy now is to switch ownership more frequently. This generates liquidity and more transactions. But capital is fleeting. At the moment, real estate offers the best returns. But what if other investment fields emerge? The opportunistically-invested capital is gone again before you know it. > > This may be partly true, although those investors usually go through asset managers. I don't think they'll be gone so quickly. They may not buy more, but they won't fling the real estate onto the market right away either. But it is certainly true that the manageable performance of bonds and equities in recent years has led the large asset managers to increase their real estate quotas. Is this a healthy development? > > You can see that one way or the other. This trend can also be observed outside the real estate industry. Furthermore, bonds and especially shares are traded more than in the past: I think the approach to buy and then wait 20 years is limited only to the wealthy private investors with the apartment buildings. Anyone who buys on account for third parties is required to check their assets and take advantage of every option available to realize gains in value. It's no longer a strategy to have real estate on your books for 15 years, to revalue the index every year and then wake up at some point and see that you've missed out on opportunities and the real values no longer apply. In this respect, everyone is urged to constantly review their portfolios and to realize increases in value when the opportunity arises. Even if we hear from the one or the other fund manager who claims that it breaks his heart to have to sell. What about logistics real estate? > > Logistics real estate would be a top investment, but we don't have the products. Why is that the case? > > At the moment I believe that it has to do with finding the appropriate land. I am convinced that the market will take off in the near future. An online business without logistics space, or without the proverbial last mile, will not work. Is there too much competition from Slovakia? > > Maybe for standard logistics, but not for the last mile. Anyone who says they will deliver in an hour will not be able to deliver from Slovakia. Is there enough space for the last mile? > Obviously it has to do with the reclassification of land, the price development of that land and the fact that many properties are being reclassified for residential use, or at least the owners are trying to do so. But I also believe that logistics developers will offer higher prices in the future in order to get to the necessary properties. In the city centers, there will also be multi-story logistics halls. To sum it up: at the moment, the time has not yet come to judge how profitable the online business really is, but it is gaining shares of the market. Only when the market is divided among a few big competitors will the business be profitable. At the moment, the only thing you can do is get more customers. At the expense of the stationary retail trade? > The pressure is clearly noticeable in the rental business. The tenant structure in the shopping centers is changing. Entertainment used to be considered really evil. Nobody wanted entertainment. Today it's the other way around: a large shopping center without entertainment and without a good food court is a no-go. All branches that offer highly standardized goods are affected by the online business. In the investment market, the pressure on the stationary retail trade is not yet as strong as in the rental market: But, of course, everyone is trying to determine what is the productivity, what is the turnover per square meter, what is the cost of sales burden - these are the decisive figures. We can already see that it is becoming increasingly difficult for smaller spe- 18 ImmoFokus
IMPRESSUM cialist stores with 2,000 to 3,000 square meters that are confined to a roundabout. They are under enormous pressure. Large, dominant centers will prevail, but those too will have to react constantly to new challenges. How large is your Investment consulting team? > > My team consists of 10 staff members. You need good, qualified people, who are not easy to find. For the project business we are looking for employees who are ready to go the extra mile. If someone calls at six in the evening and says he still needs something today, then our people stay there and deal with it and send it out at nine or ten. I am aware that this is not something that can be taken for granted and, of course, it only works if the employees feel comfortable and can see long-term goals. I see our employees as the capital of our company. We are not a capital-intensive industry. In the banking sector it used to be said that the bulk of the capital leaves the company in the evening with the elevator and it is uncertain whether it will come back in the morning: this is all the more significant for service providers. Our success lies in the relationship with our customers and the team. What qualifications would I need to have in order to work in your team? > > Ideally, you should have a university degree, an interest in the real estate industry, enjoy dealing with people and the willingness to do more than the average. This also includes working a night shift if necessary or to leaving on an international business trip at short notice. However, human qualities such as integrity, reliability, honesty and absolute discretion are at least as important as training and the "hard facts" with regard to the long-term customer relationships that I have already been mentioned several times. In exchange we offer an excellent working atmosphere, low fluctuation and long-term continuity, also in the personnel area, which is highly appreciated by both our employees and our customers. Numbers and facts are one thing. What role does gut feeling play in this? > > The question is always, at what price can I buy or sell? This is 90 percent Excel and the last ten percent gut feeling - and ten percent can be a lot. How good is your gut? > I think it's grown in every way over the yearsn Medieneigentümer GNK Media House GmbH Breitwiesergutstraße 10 A-4020 Linz Tel. +43.1.813 03 46-0 office@media-house.at www.media-house.at Redaktionsanschrift Handelskai 94-96 A-1200 Wien Geschäftsführer Philipp Kaufmann & Michael Neubauer Chefredaktion Michael Neubauer Verlagsleiter & Anzeigen Henrik Schaller Artdirector Jelio Anton Stefanov Grafik & Layout Jelio Anton Stefanov, Johanna Hinterdorfer, Annalena Hofinger & Lukas Brunmayr Lektorat Amelie Miller Autoren dieser Ausgabe Andreas Altstädter, Angelika Fleischl, Patrick Baldia, Philipp Kaufmann, Reinhard Krémer sowie die Kommentatoren. Photos wenn nicht anders angegeben: GNK Media House / Katharina Schiffl, GNK Media House / Michael Hetzmannseder Druck Ferdinand Berger & Söhne GmbH Media DER IMMOFOKUS WENDET SICH IM SINNE DER GLEICHSTELLUNG GLEICHERMASSEN AN FRAUEN UND MÄNNER. AUS GRÜNDEN DER ÜBERSICHTLICHKEIT UND VERSTÄNDLICHKEIT KANN ES BEI DEN BEITRÄGEN VORKOMMEN, DASS NUR DIE MASKULINE ANSPRECHFORM VERWENDET WIRD. ImmoFokus ist Mitglied bei: <strong>MIPIM</strong> <strong>2019</strong> 19
Page 1: MIPIM 2019 - Special edition for a
Page 5 and 6: Grounded perspectives “When takin
Page 7 and 8: 34 E-COMMERCE HAS ARRIVED XX Hkjash
Page 9 and 10: See more of life With innovative fo
Page 11 and 12: Fotos: Michael Hetzmannseder MIPIM
Page 13 and 14: price has increased by 23 percent.
Page 15 and 16: which tendered a construction proje
Page 17: Fotos: Michael Hetzmannseder The in
Page 21 and 22: VIENNA AT NIGHT Fotos: A. Karnholz,
Page 23 and 24: Good Reason No. 55 Because we have
Page 25 and 26: Investment Market Retail Austria Sh
Page 27 and 28: Investment • Yield compressions a
Page 29 and 30: Projects & Completions 2019/2020 20
Page 31 and 32: U1 CZ BRÜNN S1 NORTH-EAST Office B
Page 33 and 34: Analysis Submarkets Vienna Q4/2018
Page 35 and 36: Resourceful Strategic Creative www.
Page 37 and 38: DEVELOPMENT OF RETAIL AND SHOP AREA
Page 39 and 40: AIRPORTCITY VIENNA: GET ON BOARD. E
Page 41 and 42: MILLENIUM CITY and booming tourism,
Page 43 and 44: I M M O SHOPPING CENTER Trend 6 CLO
Page 45 and 46: More competence. More determination
Page 47 and 48: Thomas Belina, Colliers Internation
Page 49 and 50: While virtual reality and augmented
Page 51 and 52: Anton Bondi de Antoni, Bondi Consul
Page 53 and 54: The use of virtual and augmented re
Page 55 and 56: 12-15 March 2019 Palais des Festiva
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Page 65 and 66: eal estate has a relevant size. Com
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www.immofokus.at The Magazine for I
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Basically I am entering the new yea
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I assume that the general condition
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Your office AT THE AIRPORT 22,000 s
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MIPIM 2019 (24.1 MB)

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