Experiences from the summer
The real estate industry in Austria is an important economic sector, but it is clearly not immune to economic crises. The future of the real estate industry in Austria will depend largely on the ability of companies to adapt to changing economic conditions and respond proactively to challenges.
Adaptation to economic changes
One of the reactions to the known reasons in the real estate industry is restructuring or reorganization. These measures are often not only unavoidable in difficult times, but can also represent an opportunity to ensure the long-term viability of a company. In recent weeks and months, the somewhat quieter period of summer has been used very intensively, at least from my observation and from discussions with colleagues. In particular, work has been done to reach agreements with banks and other suppliers that ensure the survival of individual real estate branches in the companies.
Positive developments in the industry
“I can say that we are on a positive and promising path,” says Mario Schiavon. A lot of it is about negotiating with the banks. This shows that a joint solution is being sought. It is of course also up to the banks that provide the loans not to lose their bank loans completely and to ensure that they are repaid. This is only possible with the agreement of the companies and the banks.
Productive conversations and optimism
There are certainly productive, sensible and goal-oriented discussions that give cause for optimism. It is clear that no one is interested in seeing any company or project fail. Rather, they want to find a common solution that is beneficial for everyone involved.
Challenges in summer
Mario Schiavon on the past few months: “From my point of view, and in discussions with some of the colleagues involved, we believe that this summer was more challenging than the previous ones. Last year it was relatively quiet, but this year the situation is very different. This is also reflected in the well-known, more prominent cases often cited in the media. There is a lot of work to be done here.”
