Real estate market analysis
Vienna (OTS) – At the end of April, the Viennese property developer and real estate developer 3SI Immogroup can look back on an economically positive first quarter. Apartment sales have doubled compared to the first quarter of the previous year, and the apartment building market is also gaining momentum again, states 3SI managing director Michael Schmidt.
The developer currently has more than 50 purchase offers for 3SI properties. “This is a great and encouraging number, especially when you take into account the situation on the Austrian real estate market over the past 12 months
“, says Schmidt happily. Owner-occupiers and investors alike have recently shown increasing interest in the family company’s condominiums; around 40 properties have been sold since the beginning of the year alone.
But it’s not just the sale that makes the managing director positive, 3SI Immogroup has also recently been successful on a shopping spree on the apartment building market. “We are currently purchasing two attractive properties in the 2nd and 3rd districts of Vienna. The market is noticeably picking up again. We are currently experiencing a dynamic again in apartment buildings that definitely did not exist in the past few months
“, so Schmidt.
According to the 3SI managing director, various reasons are responsible for the positive sales figures of 3SI Immogroup. On the one hand, there was a certain amount of getting used to the interest rate policy and the current KIM regulation, but on the other hand, the future prospects of the past few weeks were significantly more positive than a year ago. In addition to the housing construction offensive announced by the government, the “3SI property campaign” announced at the beginning of March also ensured increased demand for 3SI apartments.
Schmidt is clearly looking forward to the coming months. “We expect the market situation to continue to improve, both in terms of construction activity and the purchase and sale of real estate
“, states Schmidt. The foreseeable reduction in the ECB’s key interest rate is already having a noticeable effect on sales figures; as soon as interest rates are actually reduced, this will be even greater, according to the property developer.
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