MIPIM 2023 Digital Edition

Investing in Austria
1
Given the prevailing conditions, it is difficult to say whether optimism or pessimism is
appropriate. Since I am personally always optimistic, I will approach 2023 with optimism as
well. In any case, 2023 will be exciting, especially as it is still difficult to predict how the interest
rate situation and inflation will develop. However, I am convinced that the real estate industry
will show the creativity necessary for successful projects, especially in difficult times. In my
opinion, predicting which asset classes will come up as winners is difficult. Only logistics will
remain highly in demand, in my view.
2
The biggest challenge I see is the confluence
of several unfavorable circumstances,
such as rising interest rates,
high inflation, increased energy prices,
more restrictive lending (KIM-VO) and
high construction prices. As a result, a
corresponding level of uncertainty and
restraint can be perceived in the market.
Another major challenge will be the
higher equity requirement for project
financing.
3
Peter Fassl,
HSP
It is important that the parameters that are currently difficult to predict (interest
rates, inflation) become predictable and assessable again for market participants.
Only then will it be possible to calculate projects reliably again, which will
ultimately lead to investors becoming more active as well.
4
Interest rates, inflation and
sustainability (taxonomy, ESG).
5
We attach great importance to high-quality
and personal advice for our clients. We have
always strived to improve this in the past.
This will not change in 2023.
80 ImmoFokus