Vienna logistics market: Turnover continues to decline due to a lack of modern space

OTTO Immobilien: Graz and Linz are moving up – rents are increasing significantly in some cases

Vienna (OTS) The market for logistics and industrial real estate in Vienna – the clear “winner” of the corona pandemic – again had to record a decline in sales in the first half of 2022. The rental performance was only 39,313 m²*, a drop of 16% compared to the already poor first half of 2021, according to the new industry and logistics market report from OTTO Immobilien. sees as the main reason Patrick Homm MA, Head of Commercial Brokerage Team, the striking lack of modern or generally available logistics space in the Vienna area and the surrounding area. In the future, therefore, the federal states and here the regions in and around Graz and Linz will come to the fore, says Homm.

The topic of ESG is also becoming increasingly important, as many existing areas no longer meet the increased requirements. “For investors and increasingly also for potential tenants, appropriate building certifications are a prerequisite for purchasing or renting. In addition to factors such as alternative energies, the attractiveness of the workplace and thus employee satisfaction also play an important role,” reports Homm.

The net rents for logistics and industrial real estate have continued to rise due to the tense situation, reports Dipl.-Wirt.-Ing. (FH) Wolfgang von Poellnitz, Senior Consultant Industry/Logistics.We see an average increase of 5.7% in entry-level prices in the new construction sector in all sub-markets, and 5.6% in maximum prices.” The highest rents for new-build properties are paid in the Vienna South and Vienna North submarkets, for example Top rents in the Vienna South submarket have risen again by 10% to EUR 7.50/sqm.

International developers in the Austrian logistics market – but owner-occupiers are still important

Despite rising prices and falling returns, logistics real estate has become much more attractive, with more and more specialized international industrial and logistics developers discovering the Austrian market for themselves, reports Homm. Nevertheless, owner-occupiers, especially in the area of ​​SMEs, continue to play an important role, as the individual construction of a tailor-made property and the investment in real estate are often the focus here.

At around 60 million euros, the investment volume throughout Austria was still somewhat restrained in the first half of 2022, but due to some larger deals, sales this year should be more than 500 million euros, reports Dkfm. Christoph Lukaschek, Head of Investment at OTTO Immobilien. According to the company’s calculations, this would be a slight plus compared to the average for previous years.

Urban distribution centers in hot demand – yields at 3.5%

The absolute prime yield is currently around 3.5% and has been below 4.0% since the beginning of the previous year, with the federal states yielding around 50 to 75 basis points higher, according to Lukaschek. “Institutional investors are even willing to pay a discount of up to 100 basis points for urban parcel distribution centers, so-called cross docks, which brings the yields closer to those of office properties,” explains the expert. Due to the relatively low level of returns in combination with the increased financing costs, investors with strong equity capital have a clear advantage here.

The completion volume in 2022 will be around 178,000 m², almost exactly in line with the average of recent years Martin Denner BSc, Head of Research at OTTO Immobilien. “In 2023 we are expecting an enormous increase in space of up to 374,000 m², with around 75% of all new space coming onto the market by 2024 being created in the submarkets Wien Umland Ost and Wien Umland Süd.

You can get/download the new industry and logistics market report from OTTO Immobilien with all the relevant figures and data for the most important logistics hubs in Austria at

*According to the specifications of the VRF. Only modern logistics areas that meet certain quality criteria such as hall height, shunting area and distance from the motorway etc. are taken into account.

Questions & contact:

Katharina Scheidl-Aziz
press and communication

Otto Immobilien GmbH
Riemergasse 8, 1010 Vienna

T +43 1 512 77 77-336

M +43 650 350 90 36


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