MIPIM 2022 (21 MB)

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Positions & Opinions 1 Isabella Reinberg, Reinberg & Partner Immobilienberatung The year 2022 will hardly differ from the previous year in some circumstances. Nevertheless, I am optimistic that our handling of it will be easier. Residential real estate will achieve comparable sales prices and be accompanied by similarly high market demand. Nevertheless, it can be observed that the market is no longer willing to buy „everything.” Small apartments will sell well as usual - regardless of their sometimes questionable design. Larger investments, such as purchasing a single-family home, will increasingly be considered according to your qualitative criteria and will remain on the market for a long time. Office properties are experiencing a change in their forms and uses, which is also due to COVID-19-related home office solutions. The demand for large-scale offices will probably decrease. 2 COVID-19 has led to a worldwide upheaval and change in the office work environment. As a result of the pandemic and the recommended measures, everyday office work has been changed from the traditional office desk to the home office. This is accompanied by the change of lifestyles between the office world and the home environment. Office and residential lifestyles will change, but demand, commerce and transactions will continue as usual. ESG has taken root in all sectors and is becoming an essential part of everyday activity. Companies will be restricted in allowing agreements to the extent that they can only award contracts to ESG-compliant companies. As there are no ESG standards or guidelines yet, there is still a great need for development. 4 3 Yes, most definitely. There are two pillars in financing - one is default and the second is a loss in default. Default is where annuities are not serviced over a period of time. This can be due to an inability to pay, but it can also be due to unwillingness. Irrespective of this, a payment default is a default that must be documented based the Basel criteria and means a risk premium in the refinancing of the banks. Although a default does not yet mean a loss, it nevertheless represents an increased risk. The pandemic may, of course, make payments more difficult, which may lead to defaults. In any case, default is an increased risk in the area of bank refinancing, which inevitably has an impact on financing. As in any industry, ESG will become an immense driving force. In terms of the real estate industry, I see real estate financing as an increasingly complex and hurdling issue. The questions it raises: Will interest rates stay this low? Will prices continue to rise? And what will happen to construction prices or the supply of raw materials? Will there be shortages in the procurement market? 5 We will strengthen our internationality and network with international partners. In doing so, we will build more substantial differentiation from the competition and expand employee competencies. Our internal training center will focus on interdisciplinarity, encompassing the pillars of technology, law, economics and ecology, because our team is of great importance to us. Furthermore, we will concentrate on labor market security, respectful interaction and supportive structures as a collaborative concept, as well as fighting the pandemic whose end can be inferred with social distancing. 84 ImmoFokus
1 The year 2022 begins with the obvious challenges that have already occupied us in the past year. COVID-19 has changed our working, shopping and living habits, or rather, already apparent trends have been massively accelerated as a result. This change affects almost all asset classes, although the impact varies depending on the type of use. The residential asset class has proven to be very reliable and stable even before the pandemic, so demand for core real estate will continue to increase. In the medium and long term, a shift in investor interests and a change in the risk profile of selected asset classes can be expected. Michael Widschwendter, Arealis 2 Evaluating means comparing. Real estate appraisers merely reflect the market situation or the willingness to pay the current market price, but they do not influence it. More concretely, this means mapping what is happening in the market and not anticipating that green buildings „must be worth more“ and this „fact“ should be priced in as evidence even without further market data, or that energy inefficient buildings „must“ have a discount. The „Green Premium“ or a „Grey Discount“ is not a value in its own right, but an integral part of the market value of a property. Initial impacts associated with COVID-19 are evident in projected revenues through rent reductions, co-defaults, and deferrals granted, which in turn impact cash flow. 4 3 With the current changes, especially the issue around ESG as well as the ongoing pandemic, a new assessment of risk is emerging that will lead to an investment-specific reshaping of the risk premium. While the source of monetary policy will not stop overnight, increased volatility in capital flows can be expected given the continued historically and cyclically low interest rate environment. Increased inflation is currently putting pressure on central banks to tighten their monetary policy, which will lead to a „slight“ increase in the general interest rate level. Interest rates are currently still very low by historical standards and no massive changes are expected. 1 The issue of COVID-19 will continue to occupy us beyond 2022. Mutations of the virus, necessary measures as well as political decisions related to the pandemic create additional uncertainty in society and the markets. The challenges here lie primarily in the fight against the pandemic to which we can all contribute through a high vaccination rate. 2. „ESG is here to stay!“ The issues around sustainability as well as decarbonization have begun and will keep us intensively busy for a very long time. The regulatory innovations affect all sub-sectors of the real estate industry and its entire life and investment cycle. Essential success factors here are a corresponding mindset in the company, exchange in the industry, and training and continuing education measures for the entire workforce. 3. Last but not least, digitization is a central topic that will influence the industry in the coming year. In the future, new technologies, the breaking down of data silos - especially in connection with ESG, new job profiles and a digital mindset will be needed to meet the challenges in the real estate industry in the years to come. 5 As an asset and property management, Arealis will actively incorporate the topic of sustainability into its corporate culture and policy in the future. In addition to fulfilling the regulatory requirements (e.g., EU Taxonomy and Disclosure Regulation) on the part of the legislator, the focus here will also be on the consistent derivation to the business model of the clients and the working methods of the organization within Arealis. In doing so, we will pursue a consistent approach that economic success and responsible action are not mutually exclusive but rather mutually dependent - „Manage to Green“. Even if the topic of ESG is still very „E-heavy“ at the moment and climate targets are the focus, for us the „S“ and „G“ are also part of our overall strategy. Digitization and automation of processes is a crucial success factor for us. In doing so, we use and expand the technology to promote employee collaboration and work flexibility. MIPIM | 2022 85
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MIPIM 2022: Special digital edition
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Global Players. Local Heroes. A pri
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22,000 sqm of office space, approx.
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Wir leben Know-how. Den Durchblick
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INNOVATION HUB IHR NEUES BÜRO IM H
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MIPIM | 2022 11
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management the beginning of the pan
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Have any of your tenants or owners
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a mediator. Bringing tenants and ow
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IMMOBILIENBEWERTUNG. Warum wir? Wei
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"The investment market is certainly
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„Take the legislative initiatives
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Volume bandwith 2010 2011 Neverthel
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Page 33 and 34: Selected investment transactions 20
Page 35 and 36: C urrently, the database covers new
Page 37 and 38: STYRIA 1-2 room apts: 37 % 3 room a
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Page 41 and 42: REMAX Forecast - Vorarlberg The pri
Page 43 and 44: Join us at MIPIM, Cannes, 15.-18.3.
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Page 51 and 52: eal estate, reports Karina Schunker
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Page 57 and 58: in building technology will expand
Page 59 and 60: T hus, on the one hand, there are o
Page 61 and 62: | MT12-01G | Vom Konferenzraum …
Page 63 and 64: Rentals 2021 (selected examples) Pr
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Page 67 and 68: MIPIM 2022 Creating the future buil
Page 69 and 70: 1 We are optimistic about 2022: Our
Page 71 and 72: 1 We continue to see strong momentu
Page 73 and 74: 1 I am an optimistic person - despi
Page 75 and 76: 1 As everyone in the industry knows
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MIPIM 2022 (21 MB)

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