MIPIM 2023 Digital Edition

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The first half of the year will undoubtedly be characterized by a wait-and-see attitude. The
big question is whether the markets can adjust to the multiple crises, which I assume they
will. We are already hearing cautiously positive signals from Germany. It cannot be ruled
out that the situation will improve considerably as early as the second quarter. I think 2023
will be the year of opportunities across all asset classes. The downward trend at Zoom, the
video conferencing provider, suggests that office real estate might positively surprise us.
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A significant issue will be rapidly rising rents due to inflation,
both residential and commercial, as well as rising operating
costs. Priority goals must therefore be to curb inflation and
stabilize energy prices. The dependence on Russian gas in
Austria and Germany must be reduced rapidly. However,
the challenges posed by the incipient retirement wave of
the baby boomer generation must also not be overlooked.
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1. the interest rate level
2. requirements for private loans
3
Developments pertaining to interest
rate levels and inflation need to become
reasonably predictable again. The
opinions of experts, some of which diverge
considerably, point to uncertainty that
is making investors cautious. Ultimately,
however, investment pressure remains
high and real estate is still a safe investment,
this will not change. There may be a slight
consolidation in the coming months, but
I do not expect a collapse. We don’t have
a real estate crisis but multiple external
crises that have shaken the overall
structure
3. inflation and construction costs
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Mark Krenn,
Cerha Hempel
True to our guiding principle, ‘Quality matters!’ we want to continue on our
growth path with the highest quality standards and customer satisfaction.
This year, we are also devoting more attention to sustainability in all
areas. We are also continuously evaluating and implementing legal tech
tools to increase our efficiency in providing legal advice.
MIPIM | 2023
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