Real Estate – Talk: Market Trends, Digitalization and Housing Creation
FINDMYHOME.AT / Premium Living in the interview with Mr. Marschall of Marschall real estates GmbH
MARKET Trends
How does the trend compare between single-family homes and apartments?
The price increase within the last two years has been higher on the Vienna market for apartments. In general, however, the trend is very similar – the demand situation is thus comparable.
Is the trend in Austria uniform or do we observe strong regional differences?
There are clearly discernible regional differences. Due to strong demand, mainly from buyers in Germany, demand and prices in Kitzbühel, for example, have risen. In Vienna, on the other hand, domestic demand increased and the share of foreign buyers decreased.
Real estate prices are high, interest rates are low. Should you buy now and take advantage of the low interest rates, or wait until interest rates rise again, causing property prices to fall?
It is difficult to predict whether or when interest rates will rise and how strongly this will affect real estate prices. In the case of debt financing, however, you are well advised to take advantage of the current low interest rates.
Is renting becoming unattractive as a model for the real estate agent?
If the general conditions continue to deteriorate – keyword “Bestellerprinzip” – the tendency will be yes.
Is the bidding process a serious future model for winning the bid as the best bidder for sought-after properties?
With very attractive investment properties and consistently high demand, yes.
As a real estate agent, is it necessary to specialize in regions or certain segments?
I think so. We have specialized in the luxury residential real estate market for decades and this has definitely proven to be the right strategy.
When the “Bestellerprinzip” comes into force, brokers will have to develop into 360° providers and thus, for example. Take on appraisal, floor plan, marketing, homestaging, legal/financial advice?
It depends on the size of the company. You don’t have to do everything yourself, but can buy in many services from specialists or offer them in cooperation.
GENERAL
How is a property valued and how is its value divided?
Location, location, location is a well-known slogan. After that comes, especially since Corona, open space, then the state.
How does homestaging affect sales price and marketing speed?
Our experiences in this regard are very different. We were unable to determine any effects on the sales price. However, the marketing period could be shortened in some cases.
DIGITIZATION
How much is digitalization influencing the real estate industry?
Extremely strong. Disruptive change is occurring in virtually every sector.
There are now rating platforms, mediation portals and code access to independent inspections – Will the broker be replaced sooner or later?
In some areas, certainly. Specialization or specialized knowledge is becoming increasingly important in order to survive.
What makes the broker irreplaceable, despite digitalization?
The human component is and remains irreplaceable in many areas.
What advantages can be gained from digitization?
Of course, digitization also brings benefits – time savings, easier data collection and better presentation options. To name a few of the benefits.
How is tradition and the personal not lost?
Through personal commitment, comprehensive service and also particularly good customer contact.
CREATE LIVING SPACE
Can any office be converted into an apartment?
No. This depends on numerous technical and legal factors.
Which regulations must be observed?
First and foremost, building code regulations.
What are the costs involved?
Cost of conversion, rezoning and planning, etc.
Where or when does it pay off?
This is very individual. This depends on the individual project and cannot be answered in general terms.
Thank you very much for your time and expertise Mr. Marshall!
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