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The 3 most important points for patients when choosing a doctor

17.12.2020
The 3 most important points for patients when choosing a doctor

Today’s patients want more than an experienced doctor – they want an all-round worry-free health care package. Here you can read what criteria matter when looking for a trusted specialist or general practitioner, and how our medical centre in Gartenpark Korneuburg meets patient’s needs.

Today’s patients want more than an experienced doctor – they want an all-round worry-free health care package. Here you can read what criteria matter when looking for a trusted specialist or general practitioner, and how our medical centre in Gartenpark Korneuburg meets patient’s needs.

In Austria and many other European countries, the principle of free choice of doctor applies: those covered under a health insurance can freely choose their practitioner. This comes with a lot of benefits for patients. At the same time, it raises important questions when looking for a doctor – and sometimes poses certain problems. On the one hand, it is important for everyone to find the “right” physician. On the other hand, the required specialists may be located far from home. For patients with limited mobility, this can prove to be particularly challenging.

We have commissioned a representative survey among 800 residents of Vienna and the neighbouring districts of Lower Austria to find out what matters when looking for and choosing a doctor (more information and graphs on the survey here). The results show that with the integration of a large medical centre in Gartenpark Korneuburg we are spot-on – because it meets the basic needs of the residents.

Requirement 1: Health services close to home

Our survey shows that proximity to one’s place of residence and accessibility by public transport are among the top three of the most important factors when choosing a doctor. In fact, the respondents favour the integration of health care services in new housing developments from the onset.

When it comes to ​​local health care, there is still a large gap between demand and actual supply. While almost three quarters of those surveyed stated that good health care services in their area are generally “very important”, only 42 percent were “very satisfied” with the local services currently on offer.

Compared to Vienna, the shortage of health care services is even more pronounced in the district of Korneuburg. However, from the beginning of 2022, the medical centre in Gartenpark Korneuburg will help to close the supply gap. Located in one of five urban villas, a modern network of nine practices will be established with doctors working closely together. Among the services on offer will be physiotherapy and a medical store.

Emergency treatment, preventive care and follow-up care as well as access to medical products will all be found under one roof. What is more, 40 parking lots and good public transport connections will be available. The medical centre in Gartenpark Korneuburg will become a shining example of what local health care can be like. And not just for Korneuburg, it will have a catchment area of ​​around 1 million people.

Requirement 2: Health care with a certain something

The market for health services is enormous – and it’s getting bigger as people’s needs change. “People no longer just go to the doctor when they are sick. They go to the doctor to stay healthy,” says Managing Director Alexander Finster. New treatments, pre- and aftercare and cosmetic treatments are increasingly in demand. Our survey also shows that people are willing to actively invest in their health. The vast majority (71 percent) of people we asked make use of services that require additional payments out of their own pocket.

The medical centre in Gartenpark Korneuburg focuses on that certain something – because we believe investing in health care yields added value for the wellbeing of residents. “Health is more than a basic need. It is a comprehensive service for people,” says Alexander Finster. On the one hand, this means that health care in the medical centre will meet the highest medical standards in all areas. But it also means that recovery begins with setting foot in the medical centre itself. For example, patients and customers can expect spacious, comfortably equipped waiting rooms with lounge areas, a snack bar, and free drinks, as well as a large roof terrace with lounge furniture. And those successfully completing a follow-up examination will be able to celebrate with a glass of champagne.

Requirement 3: Well-equipped practices – in terms of both technology and interior design

Patients want high-quality technical equipment. Far too often this request is being neglected. Yet, for patients looking for a doctor, it is almost as important as the proximity to their home (79 percent: “very important”), while modern and visually attractive facilities have a positive influence on the patient’s well-being.

The medical centre in Gartenpark Korneuburg combines technology and aesthetics in a unique way. Practitioners working across the nine practices will have access to the best equipment – be it in their own practice or when time-sharing a practice with colleagues. Simply because it would be downright negligent not to use the achievements of technology for the health and well-being of patients.

At the same time, we have prioritised a tasteful interior including sophisticated design, an elegant atmosphere, and luxurious materials. After all, who says that doctor’s offices cannot be beautiful too? For example, if you go for an MRI, you can expect a room that has little in common with a classic treatment room. We have made sure to include a calming wall design with a forest look and a relaxing light concept.

With all its answers to the needs of modern patients, thought out down to the last detail, Gartenpark Korneuburg will become the new hub for top-quality health care in Eastern Austria. It will stand for an all-round worry-free medical services package. Because being sick gives you enough to worry about.

Gartenpark Korneuburg is growing: These are the next milestones

16.12.2020
Gartenpark Korneuburg is growing: These are the next milestones

An extraordinary and challenging year is (almost) behind us. The coronavirus pandemic has left its mark on people’s lives and the economy – the Austrian building industry is no exception. For Wiener Komfortwohnungen, there is a silver lining. We can look back on a very successful year, and our current development, Gartenpark Korneuburg, is well on schedule. The next milestones are already in sight.

An extraordinary and challenging year is (almost) behind us. The coronavirus pandemic has left its mark on people’s lives and the economy – the Austrian building industry is no exception. For Wiener Komfortwohnungen, there is a silver lining. We can look back on a very successful year, and our current development, Gartenpark Korneuburg, is well on schedule. The next milestones are already in sight.

Our site manager Christian Holler is happy – and so are we. “75 percent of the shell has been built. The goal is to complete it in February,” he comments in an interview at the construction site of Gartenpark Korneuburg (you can watch the video here).

Particularly for laymen, it is fascinating to watch a huge building grow from a deep excavation with the help of heavy equipment and hardworking hands. What has been achieved on the construction site at Brückenstraße 19 is a big success for the teams of Herbert Bau and Wiener Komfortwohnungen. In November, we poured the 12,000 square metre concrete base plate, providing the foundation for the basement, the underground garages and the five above-ground urban villas (here you can read more about this milestone).

After that, the work on the ground floors of the five buildings started, including preparations for electrical, heating, air conditioning, ventilation and sanitary installations. At some points, almost 100 workers are on the construction site which requires precise coordination and absolute professionalism.

During the times of the coronavirus pandemic, the building industry acts as a driver of growth

To build a structure the size of Gartenpark Korneuburg is a great joint achievement made possible by planners, coordinators, and workers from various disciplines – and one that cannot be taken for granted in these times. As in many other countries, the pandemic has made things extremely challenging in Austria since spring 2020. During the so-called “first wave”, work on many major construction sites in Austria came to a temporary halt due to the lockdown. Those responsible in the construction industry had their hands full taking additional measures to protect the health and livelihood of their employees.

Fortunately, we were able to take swift and decisive action, introducing precautionary measures while managing to stay on schedule with the work on Gartenpark Korneuburg. “Overall, the Austrian construction industry has done well despite the global situation. It has helped to prevent an even bigger collapse of the economy at large,” says Alexander Finster, Managing Director of Wiener Komfortwohnungen.

In the light of the “second wave”, construction works in Austria are continuing with all the necessary measures put in place to guarantee the safety of each employee. The same applies to Wiener Komfortwohnungen. While keeping your distance comes quite naturally on a large construction site, all our employees wear face masks and have received comprehensive training and guidelines on the right behaviour in a variety of situations such as breaks from work. “Every week we meet with all workers to implement the latest rules and government guidelines,” explains Christian Holler.

Windows are scheduled for January

With the wellbeing of our employees always in mind, the construction works on the Korneuburg development will continue at full speed until Christmas and beyond. The shell of building four – which will include upscale rental apartments as well as owner-occupied and “pension provision” apartments due to high demand – will be ready before Christmas. In the next step, the building will be fitted with windows and other elements such as a special façade made of sheet metal. This will make the building watertight so that afterwards the interior work can start. About three weeks later, the next building will follow suit.

With each step being carefully coordinated, construction work on the individual buildings will continue in 2021. The drywall construction in all five buildings (especially interior walls and suspended ceilings) is expected to be completed by mid-May. We will begin preparing the flooring as early as March. At the end of April, the tiles will be laid in the first apartments, and by mid-May the paintwork will start. Due to its special requirements and particular form of usage, the interior of the medical centre is scheduled for August through to the end of October 2021.

By Christmas 2021, Gartenpark Korneuburg is expected to be completed

And what is planned for the exterior? The waterproofing of the masonry – sone by so called “Schwarzdecker” or “black sealers” in Austria – will start in early January. Work on the façade will start slightly later towards mid-January. In early May, fitters will start with the railings for the first terraces and balconies. The external work on the buildings including the front doors should be completed by the end of October.

Weather permitting, Christian Holler and his construction team are confident that we will stay on schedule. Our eyes are firmly set on the prize: In exactly one year from now we hope the horrors of the pandemic are behind us – and just before Christmas we might be able to hand over Gartenpark Korneuburg in its full, completed glory.

Follow us on Facebook, Twitter or Instagram – we will keep you posted on the progress of Gartenpark Korneuburg.

Site manager Holler on the progress of construction work on Gartenpark Korneuburg: „We are on time!“

16.12.2020

75 percent of the shell of Gartenpark Korneuburg has been built – and site manager Christian Holler is confident that it can be completed by February. In the video, he talks about what’s to come over the next few weeks.

Milestone: Floor slab completed – materials equalling 142 single-family houses used

23.11.2020
Milestone: Floor slab completed – materials equalling 142 single-family houses used

After five months, the construction team from Herbert Bau and Wiener Komfortwohnungen are happy to announce their first milestone. The concrete floor slab has been poured, covering a total of 11,965 square meters. This lays the foundation for the basement of the 14,500 square meter construction site of Gartenpark Korneuburg – an area the size of two football pitches.

After five months, the construction team from Herbert Bau and Wiener Komfortwohnungen are happy to announce their first milestone. The concrete floor slab has been poured, covering a total of 11,965 square meters. This lays the foundation for the basement of the 14,500 square meter construction site of Gartenpark Korneuburg – an area the size of two football pitches.

This means, the floor of the basement level including the underground car park has been completed. The five urban villas that are going to be built on top will be home to 260 rental and “comfort” apartments as well as one of the largest medical centers in Eastern Austria.

In Brückenstraße, not far from the Korneuburg train station, 80 people are working on the construction site. So far, they have used 15,626 cubic meters of concrete and 1,845 tons of reinforcing iron rods, which add to the structural stability. In comparison, a simple one-family house requires around 110 cubic meters of concrete. In other words, Gartenpark Korneuburg already consists of more than 142 single-family houses that will later create a unique living experience.

And the construction site continues to grow. For the first buildings, the ground floors are already in progress; in building number 4 the construction workers have already reached the third floor. By now, onlookers won’t be able to catch much of a glimpse of the floor slab itself. The reason is, 70 percent of the ceiling of the underground garage has been completed.

Before we reach the final highlight, the penthouses, there are five more floors above ground to be built. Completion is planned for the end of 2021. Project manager Christian Holler announces: “We are perfectly on schedule.”

CEO Alexander Finster on the new medical centre Gartenpark Korneuburg

24.11.2020

Nowadays we don’t just go to the doctor to cure illnesses. We go to the doctor to stay healthy as long as possible. The medical centre Gartenpark Korneuburg is responding to this growing need for preventive health care. More on this in the video with CEO Alexander Finster of Wiener Komfortwohnungen.

The leasehold model and its advantages for investors

17.11.2020
The leasehold model and its advantages for investors

The leasehold model is a legal concept that applies to building or buying real estate. It has a long tradition in cities such as London, Moscow and Amsterdam. The legal foundations for Austria’s leasehold were laid as early as 1912. In the past few years, it has become increasingly popular. Put simply, it is about constructing and maintaining a building without having to buy the land on which it stands. For investors and all other stakeholders, this has a number of advantages.

The leasehold model is a legal concept that applies to building or buying real estate. It has a long tradition in cities such as London, Moscow and Amsterdam. The legal foundations for Austria’s leasehold were laid as early as 1912. In the past few years, it has become increasingly popular. Put simply, it is about constructing and maintaining a building without having to buy the land on which it stands. For investors and all other stakeholders, this has a number of advantages.

 

Facts and benefits at a glance.

 

  1. Building contract and duration

In the leasehold model, the buyer does not acquire the land on which the property is (being) built. They only receive the right to build or use a property. Ownership of the land and ownership of the building are separated. The leasehold is registered in the land register (so-called C-sheet of the land register number).

 

Among other things, the building contract defines the size of the building, the design, and the purpose of the property (e.g. commercial or residential). It runs for at least 10, but mostly 100 years. As a rule, early termination on the part of the lessor of the leasehold is not permitted, but the owner of the building can resell or hand it down to others.

 

After the agreed term, the leasehold expires and the building must be transferred back to the lessor of the leasehold in return for compensation – this is provided for by the Leasehold Act (BauRG). However, an individual agreement between the parties involved to extend the leasehold is possible and customary. The conditions under which the contract is extended can be defined in advance.

 

 

  1. The lessor of the leasehold and lease interest

 

The lessors of leaseholds are trustworthy public institutions or foundations with a long-term investment horizon and social motivation. In Austria, in most cases this is the church.

 

As the owner of the land, the lessor receives interest from the owner of the building. In turn, the latter can pass this on to any tenants, via operating costs for example. In Vienna metropolitan region, the interest rate is 1-2 Euro per square meter per year, depending on the location. In the contract, the rate can be linked to the development of consumer prices and other factors. In times of low inflation, the increase in interest is moderate – compared to the land prices that are rising sharply.

 

  1. Savings and tax advantages

For buyers, the biggest advantage of the leasehold model is obvious: They pay for the building but not the land. This reduces the price by at least 1,000 Euro per square meter which saves tens of thousands of Euro depending on the size of the property. In addition, there is no land transfer tax (stamp duty) on property costs. Plus, in the leasehold model, investors can write off the entire investment against tax, while the land cannot be written off when bought the “conventional” way.

 

All of this enables property developers to build and sell real estate more cheaply. Leaseholds thus help to make high-quality property affordable for larger parts of society while building plots are becoming scarcer and housing prices keep rising. For young families in particular, who often lack the financial resources, this is an attractive way of getting on the housing ladder. Professional investors, on the other hand, invest their money in secure developments and can expect a higher return compared to “conventional” real estate investments. This is due to lower investment costs as well as potentially more profitable rents for apartments built with a leasehold.

 

In the course of the development of Jägerstrasse 58, Wiener Komfortwohnungen were able to gain ample experience in dealing with the leasehold model and are convinced that it will become increasingly established in the Austrian real estate market. This is why Wiener Komfortwohnungen has decided to develop Gartenpark Korneuburg on the basis of a leasehold.

 

Contact for investors:

Alexander Finster

Managing Partner

af@wienerkomfortwohnungen.at
+43 (0)1 3200856-45

Architect Marius Moser about the high quality of the Gartenpark Korneuburg

17.11.2020

“Only the highest quality has been used in the respective area – the Wiener Komfortwohnungen attaches great importance to this,” says Marius Moser, architect of the Gartenpark Korneuburg. Here he explains what high-quality construction actually involves.

Survey: Insufficient health care in Vienna and surrounding areas – people want top services and short distances

16.11.2020
Survey: Insufficient health care in Vienna and surrounding areas – people want top services and short distances
Good health is essential – which is why access to good medical care is a top priority. Unfortunately, many people were made painfully aware of this by the corona pandemic. According to a representative survey, the population of Vienna and the neighbouring regions in Lower Austria attaches great importance to medical care in their area.

Good health is essential – which is why access to good medical care is a top priority. Unfortunately, many people were made painfully aware of this by the corona pandemic. According to a representative survey, the population of Vienna and the neighbouring regions in Lower Austria attaches great importance to medical care in their area. 72 percent of participants said that they consider good health care close to home to be “very important”. However, only 42 percent were “very satisfied” with the health services currently available in the region. In conclusion, the existing health care in Vienna and surroundings does not adequately reflect the needs of the population.

 

In September 2020, the opinion research institute M & R – Opinion Survey und Research GmbH conducted phone interviews on our behalf with a total of 800 residents from Vienna and neighbouring districts in Lower Austria (Korneuburg, Gänserndorf, Tulln, Sankt Pölten-Land, Mödling, Bruck an der Leitha). The aim was to determine their health care needs and to identify opportunities for new offers.

 

“The results of the survey confirm that we are dealing with a health care gap in the metropolitan region of Vienna,” says Alexander Finster, managing director of Wiener Komfortwohnungen. “This gap needs to be closed because insufficient supply not only has a direct impact on people’s health but also affects their overall quality of life.”

 

 

Surrounding areas particularly discontent – high affinity for private health care

 

The gap between the perceived importance of health care and its current assessment by residents is more pronounced in the surrounding areas of ​​Vienna than it is in the capital itself. Among the neighbouring districts in Lower Austria, the districts of Korneuburg and Bruck/Leitha have the lowest proportion of “very satisfied” respondents (34 and 28 percent, respectively). Many respondents complained primarily about the lack of specialists in their area. In particular, they want more specialists in the fields of ophthalmology (84 mentions), orthopaedics (76 mentions), dermatology (62 mentions) and paediatrics (58 mentions), according to the survey.

 

Most are willing to pay for additional health services. 71 percent of those surveyed in Vienna and surroundings stated that they also use medical services that they have to pay for out of their own pockets. Just over a quarter of respondents (27 percent) exclusively uses services that are covered by statutory health insurance. In the districts outside of the city, the tendency to use private health services is higher (74 percent) than in Vienna itself (68 percent).

 

When choosing a doctor, the proximity to their home was “very important” to 89 percent of participants. Nonetheless, the survey also shows that respondents pay particular attention to high-quality technical equipment (79 percent). They feel most comfortable in the practice itself when the attending physician takes enough time, the staff is friendly and competent, and the waiting time is not too long.

 

Health care next door: a wish turns into reality

 

The overwhelming majority of those surveyed (87 percent) think it makes sense for doctors from different departments to work together unbureaucratically under one roof. In line with the need for health care close to home, 94 percent also consider it a “rather good” or “very good” idea if medical services are planned and integrated into residential developments from the outset.

 

For us at Wiener Komfortwohnungen, this means that we are spot on with Gartenpark Korneuburg, our current residential development. Just 15 minutes from Vienna’s city centre, a total of 260 exclusive apartments for long-term rent or flexible shorter stays and one of the largest medical centres in Eastern Austria are being built. By early 2022, it is expected to bring together medical professionals from various disciplines under one roof – with superb equipment, numerous services and short distances for patients.

 

Both the future residents of Gartenpark and the residents of Korneuburg and the neighbouring districts can look forward to high-quality improvements to their regional health care. Alexander Finster is convinced: “With this comprehensive offer, the medical centre closes the health care supply gap in the north of Vienna and is set to become the new address for top notch health care in Eastern Austria with a catchment area of ​​over one million people.”

Marius Moser: About the architecture of the Gartenpark Korneuburg

13.11.20

What is extraordinary about the architecture of the Gartenpark Korneuburg? What does tenants feel more comfortable? In this video Marius Moser from Moser Architects explains his teamwork about the Gartenpark.

Site manager Christian Holler: “I have never seen a project like this”

06.11.20

A unique way of living – the philosophy of Wiener Komfortwohnungen realises the Gartenpark Korneuburg in its very own way. In which way, explains site manager Christian Holler here in the video.

„Comfort-ready living is a mini revolution in the real estate market“ – CFO Gregor Pfeiffer answers investor’s questions

02.11.2020
„Comfort-ready living is a mini revolution in the real estate market“ – CFO Gregor Pfeiffer answers investor’s questions

A lively exchange amongst an exclusive group of people: On 29 October 2020, Wiener Komfortwohnungen hosted a digital event attended by investors from all over Europe. Due to the pandemic, the event, located at Palais Todesco opposite the Viennese opera house, took place via live stream. Moderated by Austrian TV presenter Nadja Bernhard (ORF), investors were able to ask questions during the event and receive an answer directly from Gregor Pfeiffer, CFO of Wiener Komfortwohnungen. In addition, Silke Henning from market research institute KANTAR presented the results of a survey of 400 European investment professionals.

A lively exchange amongst an exclusive group of people: On 29 October 2020, Wiener Komfortwohnungen hosted a digital event attended by investors from all over Europe. Due to the pandemic, the event, located at Palais Todesco opposite the Viennese opera house, took place via live stream. Moderated by Austrian TV presenter Nadja Bernhard (ORF), investors were able to ask questions during the event and receive an answer directly from Gregor Pfeiffer, CFO of Wiener Komfortwohnungen. In addition, Silke Henning from market research institute KANTAR presented the results of a survey of 400 European investment professionals.

Investors were particularly interested in the subject of “comfort-ready living” – an area in which Wiener Komfortwohnungen are among the pioneers across Europe. Gregor Pfeiffer described the growing trend as a “mini revolution in the real estate market” with massive investments planned in this segment. Pfeiffer explained the principle using the example of Gartenpark Korneuburg, a development with 260 apartments spread over five urban villas currently under construction only 15 minutes away from Vienna’s city centre. The development will meet the requirements of all age groups, at any stage of life.

Arrive and feel at home in an instance – that is the motto of Gartenpark Korneuburg. The apartments offer a wide range of amenities and appliances from washing machines to well-stocked cutlery draws. This makes them ideal for short stays in the city or for transitional phases in life that require a convenient temporary solution. Gartenpark’s infrastructure includes a medical centre, which will be one of the largest in Eastern Austria.

 Residential property as crisis-proof investment – even during the pandemic

“Can you see a trend that shows a movement away from commercial and towards residential real estate?” This was one of the investor’s questions answered by Gregor Pfeiffer. To respond in detail, Pfeiffer referred to the results of the KANTAR study that shows a tendency towards an increased proportion of residential property in investment portfolios. “That corresponds with our assessment,” said Pfeiffer. “We are seeing a growing number of vacant offices, while the rental prices for offices are falling. Shopping centre operators have probably seen better days as well. As a lesson from the corona pandemic, we believe that living spaces will be upgraded which is why we will remain loyal to this segment.”

In other questions, concern around the current pandemic and the economic uncertainty were palpable: “Do you see the risk that the construction industry will be brought to its knees and projects not being completed?” Calmy but without hesitating, Gregor Pfeiffer answered the question: “The project is fully funded, so we have no concerns in this regard. From where we stand, the schedule with a completion date at the end of 2021 will be maintained. In the long term, the corona crisis will pass at some point. However, the megatrends remain. Because we always want to live comfortably.”

KANTAR expert Silke Pfeiffer was able to support this assessment with relevant data: “Real estate investments in the metropolises of Europe remain high during the Corona crisis. That is a key result of our survey of 400 investors from the DACH region and Great Britain.” According to the survey, every third investor considers Berlin to be the most attractive property market in Europe (35 percent). Only London (39 percent) was more popular with investors. Vienna came in third place with 23 percent.

Another interesting trend: “In Vienna as well as in other metropolitan regions, investors are increasingly going for residential suburban areas, also known as ‘bacon belts'”. 34 percent of respondents chose the “metropolitan region” as their preferred location, giving it second place behind “inner city location”.

In conclusion, the Q&A session provided a lot of appetising food for thought for the participants. The actual snacks from the buffet, however, they had to get from their own fridge.

High-quality construction at Wiener Komfortwohnungen

30.10.2020

 

“We pass the desire to live better on to our customers,” says Alexander Finster, CEO of Wiener Komfortwohnungen. Here in the video you can see what high-quality construction means for Wiener Komfortwohnungen.

 

The advantages of the garden park

30.10.2020

“You come home and can take a holiday”, says Alexander Finster, CEO of Wiener Komfortwohnungen, about the unique advantages of the Gartenpark. You can find out exactly what these are and why the location is so decisive for this in the video.

Investor survey: London is the most popular location for real estate investments

19.10.2020
Investor survey: London is the most popular location for real estate investments

During the Corona crisis and beyond, real estate investments in the metropolises of Europe remain in high demand: this is the result of a survey conducted in September 2020 by the German opinion research institute Kantar among 400 institutional investors in Great Britain, Germany, Austria and Switzerland. 100 investment professionals from insurance companies, banks, capital investment companies and public funds were surveyed in each country. The English capital, London, came in first place among the most popular cities to invest in: 39 percent of investors consider it the most attractive location in Europe. It is followed by Berlin (35 percent) and Vienna (23 percent).

Major effort for cities and the construction industry: In 9 European metropolises there will be a shortage of around 1.2 million apartments by 2030

10.09.2020
Major effort for cities and the construction industry: In 9 European metropolises there will be a shortage of around 1.2 million apartments by 2030

It is one of the most pressing issues of our time: the need for housing. For Europe’s metropolises in particular the lasting immigration and the trend towards urbanization entail an enormous need for action. On behalf of the Wiener Komfortwohnungen, researchers at DIW Econ, a subsidiary of the German Institute for Economic Research (DIW), have determined the housing and building need up to the year 2030 for 9 selected European major cities. The result: a total of 1.2 million apartments will be missing in the coming years.

It is one of the most pressing issues of our time: the need for housing. For Europe’s metropolises in particular the lasting immigration and the trend towards urbanization entail an enormous need for action. On behalf of the Wiener Komfortwohnungen, researchers at DIW Econ, a subsidiary of the German Institute for Economic Research (DIW), have determined the housing and building need up to the year 2030 for 9 selected European major cities. The result: a total of 1.2 million apartments will be missing in the coming years.

At around 355,000 apartments, the supply gap in London is the largest. Warsaw (around 142,000 apartments) and Paris (around 129,000 apartments) follow in second place. According to DIW Econ calculations, Austria’s capital Vienna has a building requirement of 110,000 apartments – that is, the city will need around ten percent more apartments by 2030 than it currently has. On average, this requires around 10,000 new apartments per year.
For a total of nine major cities in Europe – including Berlin, Amsterdam, Budapest, Copenhagen and Zurich – the research institute examined how many apartments would have to be completed in the next ten years to meet the expected demand. The estimated population growth, but also the expected number of flats exiting the market and vacancy rates due to fluctuations were included in the calculations.

The aim of the study was to gain reliable knowledge from a European perspective on the development of the demand for housing in capitals and large cities and the resulting need for political and economic action. “The mega-trend of urbanization is a pan-European phenomenon that all metropolises have to face,” says Alexander Finster, Managing Director of Wiener Komfortwohnungen. “It takes big, joint plans from politics, society and investors to meet the increasing demand for living space.”

With Gartenpark Korneuburg, the Wiener Komfortwohnungen contributes in its own way. The new building development in the North of Vienna creates much more than just housing: in accordance with the corporate philosophy “Better live unique,” an ultra-modern ensemble of five city villas and 260 exclusive apartments is being built. It brings together all generations and a wide variety of lifestyles and thus sets standards for future living.

German Institute for Economic Research study: Around 1.2 million flats will be missing in nine top European cities by 2030

10.09.2020

According to a study for Wiener Komfortwohnungen, Europe’s top metropolises will lack around 1.2 million flats by 2030. In absolute terms, the gap is largest in London with around 355,000 flats. Warsaw (around 142,000 flats) and Paris (around 129,000 flats) follow in second and third place. The author of the study, Konstantin Kholodilin, explains the situation in the Austrian capital in this video.

Gartenpark Korneuburg
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