The total stock of office space in Vienna amounted to c. 10.4 mln sq m at the end of 2011. Completions of new office space (incl. refurbishments) reached up to c. 188,000 sq m, representing a rise of c. 14 % vis-à-vis the completions in 2010 (c. 165,000 sq m).
By the end of Q3 2011 the office stock in Vienna amounted to c. 10.25 mln sq m and therefore increased slightly. This increase is due to completion of 37,000 sq m new office space.
At the end of the first half of 2011 the supply of office space in Vienna amounted to ca. 10.25 mln sq m. In a y-o-y-comparison the supply of office space decreased by 50 % to 70,000 sq m (H1 2010: 145,000 sq m).
By the end of Q1 2011 the office stock in Vienna amounted to c. 10.2 mln sq m and thus remained steady. Since the beginning of 2011 only approx. 2,000 sq m of new office space and no refurbishment were completed in Vienna. This was the completion of the building “City Space 7” located at Mariahilfer Strasse in the 7th district of Vienna.
Take-up increased by c. 4 %. Vacancy rate increased from 4.8% up to c. 5.5%. Prime rents increased by c. 3.4% to c. EUR 23.00/sq m/month. Prime yield decreased by 40 bps. Investment volume increased by c. 21.0 %.
Office stock in Vienna amounted to c. 10.2 mln sq m at the end of Q3 2010. In Q3 2010, c. 13,000 sq m of office space (new + refurbished) was completed in Vienna. By comparison, in the same period in 2009, almost 35,000 sq m of office space was completed.
Austria