MIPIM 2019 (24.1 MB)

Positions & Options
Christoph Stadlhuber,
Signa Holding
Digitization is affecting our everyday lives more and more. Within the real estate industry the pace
of development has also picked up recently, after many real estate companies deemed the impact
of digitization on their business as low only a few years ago. At SIGNA, we see digitization as an
opportunity and want to become a pioneer and driver of digital services and new business models.
We monitor future trends and are integrating innovative products into SIGNA's value chain. SIGNA
has been utilising Virtual Reality tours for its office properties under construction since 2015. With
the help of Oculus glasses in situ, or randomly via tablet and smartphone, interested parties can get
a clear picture of what the finished object will look like. This technology makes the property tangible,
illustrates the layout and conveys a feeling for the space, thus creating clarity for the customer
very early in the decision-making process and thus accelerating it. In housing sales, digital and virtual
realities of the property are becoming increasingly important for future owners. New technologies
- such as HTC VIVE – are allowing them to move freely and independently within the rooms.
This is particularly interesting for the housing sector, since this where we primarily address private
customers. Another option is the ability to stroll through the future property at a leisurely pace using
a gamepad. Soon it will be possible for the client to select possible floor and tile options within this
virtual environment by using the configurator. It makes decisions easier and gives the customer a
real idea of what their new home will look like. The customer demands more and more individuality
from the real estate and construction industry. Tools like Virtual Reality aid this enormously and customer
feedback is very positive. However, no amount of digital technology can ever replace the personal
advice of an agent. Innovations such as smart data, blockchain or even building information
modelling pose no threat to established business models, but their added value can lead to greater
transparency, planning security, speed and savings. In general, it's not just about discovering new
things, but more about constantly reflecting on the viability of one's business model. Only agile and
innovative companies anticipate future markets and changing customer needs and thus manage to
survive in a volatile environment.
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The real estate cycle is dependent on interest rate development. We are currently in a prolonged
period of low interest rates, which will continue this year. In the foreseeable future we expect only
moderately rising interest rates. The economy is doing well, the inflow of people into the cities is
still strong. For this reason, we do not expect an abrupt end to the current real estate cycle. On the
contrary, the demand of institutional investors for high-quality neighbourhood developments in
good urban locations, as provided by us, is unwavering.
All these technologies will influence and change the real estate industry. For example, virtual object
visits with the help of virtual reality and augmented reality technologies or big data applications, such
as smart metering in the energy industry, data analysis, etc., as well as smart living functions. From
a legal point of view, the possible effects of blockchain technology are the most difficult to assess
because legal framework conditions and formal requirements would also have to be adapted.
The position of the hands on the real estate clock depends not in the least on the asset class under
consideration, although in our opinion the clock has not yet reached a level of the proverbial 11th
hour in any class. Residential real estate, including micro-apartments, continues to be the most
promising as far as we can see. Therefore, as long as the low interest rate phase continues, things
will continue to move along.
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Manfred Ton,
CHSH Cerha Hempel Spiegelfeld Hlawati
Peter Vcelouch
CHSH Cerha Hempel Spiegelfeld Hlawati
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