When asked about the latest developments on the Austrian commercial real estate market, Andreas Polak-Evans and Sebastian Scheufele, the Managing Partners at Modesta Real Estate look with optimism at the current business year: Especially in Vienna, many companies are looking for new modern office and industrial space – as Andreas Polak-Evans and Sebastian Scheufele have said in an interview in the latest edition of “Immobilien Investment” (“Real Estate Investment”).
The European economy showed positive development in 2016 – a development from which the real estate sector is also profiting. “After years of stagnation, companies are continuing to expand, to fusion or to optimize their locations and as a result, are looking for suitable office space,” explains Andreas Polak-Evans. In the industrial and logistics market, a similar trend can be observed: “Tenants are showing increased interest in moving from old-fashioned and no longer modern buildings to new high-quality premises,” explains Sebastian Scheufele.
Furthermore, the managing partners at Modesta Real Estate explain in the interview which locations are currently particularly in demand and they provide an outlook on which sectors and countries have high potential for lettings and investments in the years to come. You can find the entire interview with Andreas Polak-Evans and Sebastian Scheufele HERE (in German only).