MIPIM 2023 Digital Edition
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Investing in Austria<br />
1<br />
I am both optimistic and pessimistic.<br />
Pessimistic because I believe that the interest rate rally is not yet over and that<br />
interest rates will continue to rise. Inflation will be with us for longer than most<br />
think, and energy costs in particular will remain at a high level after a brief period<br />
of relief. At the same time, I am also optimistic because I believe that many who<br />
bought their properties with borrowed capital will run into budgetary difficulties.<br />
This creates opportunities for our involvement in the market and good purchases.<br />
However, these purchases require the right timing, and you also need the necessary<br />
equity. We have that, and that’s why I’m optimistic that we’ll be able to find and take<br />
advantage of good opportunities next year, especially in the second half of the year.<br />
3<br />
Daniel Jelitzka,<br />
JP Immobilien<br />
2<br />
We will continue to implement the ESG and make sure that all existing and new<br />
projects comply with ESG requirements and EU taxonomy in order to make our<br />
contribution to the necessary environmental goals.<br />
We are operating in a challenging capital market, which means the value of capital is<br />
high. Therefore, one must have the necessary capital need when opportunities arise.<br />
4<br />
Those would be interest rates, then<br />
inflation and energy prices, and finally<br />
the available liquidity of buyers. 5<br />
The party won’t be back anytime soon. But<br />
the market will become more dynamic if<br />
some parameters develop positively. For<br />
this to happen, the Euribor should settle at<br />
a tolerable level, let’s say at 200 basis points.<br />
Inflation would have to fall to the EU target<br />
of 250 basis points, and energy costs should<br />
not be higher than twice the pre-crisis level.<br />
Then there will be a positive mood on the<br />
market again, and that is ultimately a very<br />
important parameter for good economic<br />
development.<br />
We will continue to follow our path consistently.<br />
That means reacting flexibly to the market and<br />
ensuring that we have enough equity “in our petty<br />
cash” to take advantage of opportunities that come<br />
our way at the right time.<br />
76 ImmoFokus
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