MIPIM 2022 (21 MB)

Positions & Opinions
1
I think 2022 will be a good year. After almost two years of lockdown, uncertainties and other
challenges, we have learned to deal with the situation.
Real estate continues to be the investors’ favorite, and I believe new office concepts combined
with environmental and social sustainability impulses might surprise us this year. Housing
will continue to be „trendy“ for investors; however, with yields continuing to fall, I believe it
will be challenging for many institutional investors in the final decision.
2
In the short term, there will be an upward push for (truly) ESG-compliant properties and
a downward trend for properties that do not at least meet the ESG criteria. In my view,
Covid-19 will not have a direct long-term impact on property valuations, and Retail
and Hospitality will also return to normal. However, the indirect impact should not be
ignored: more open attitudes towards home offices, new travel habits and appreciation
of the office or home. These will bring changes not yet immediately foreseeable, with
flexible and modern concepts again being the frontrunners.
4
Permits: The last two years have been marked by delays and shortages, which have also
affected the area of permits, causing many developers‘ projects to be pushed back.
Social change (labor market/home office): If you are looking for employees yourself
and notice the groans of HR departments desperately looking for employees, you
realize that this issue should not be underestimated.
Advantages due to lack of investment opportunities: One positive aspect for the real
estate sector at the moment is certainly the fact that there are few or no alternatives
on the investor side. Stock markets, which are more volatile than ever and no longer
follow a clear trend, in addition to the incidents caused by Silicon Valley moguls, wildeyed
politicians and stuck container ships, as well as the lack of alternatives, continue
to make concrete gold an investors’ darling.
3
If one can trust the economists in Europe, I
suspect that the sideways trend will continue
for a while longer. Regarding of risk premiums,
I also believe that ESG/environment will be
added to the due diligence in the future, and
again, the frontrunners will emerge as the
winners. I don‘t think anyone will be able to
predict the next pandemic. Still, I do believe
that any closure scenarios - which no one
would have anticipated pre-Covid - will factor
into the contracts.
5
Dominik Erne,
Bondi Immobilien Consulting
Our focus in the new year remains on the
holistic development of TwentyOne. The
Innovation Hub will be ready in the summer.
With the tenants moving in, we can then
really prove that our concept and our idea
of the overall responsible development of
a small urban development area in the 21st
district were the right move. Our team will
grow as it did last year and is developing very
positively; I am happy to have such a great
team. Furthermore, we are still looking for
new and exciting commercial developments in
Vienna and the surrounding area. We want to
make a statement, especially in the direction of
sustainable real estate projects.
72 ImmoFokus