With seven consecutive awards as “Top Developer” from FINDMYHOME.AT, over 120 ongoing projects and a clear focus on sustainability, Glorit sets standards in the real estate industry. From the all-round carefree package to the turnkey handover: the company, which was founded more than fifty years ago, combines quality, service and innovation to create a successful model that impresses customers time and time again.
Now the renowned property developer from Lower Austria is taking its all-round carefree package to the next level: with the new business segment “Das Maklerhaus by Glorit” , the company will in future also take on the sale and rental of properties that are not part of the Glorit portfolio, e.g. the sale of the customer’s existing apartment in order to finance the new purchase with Glorit. This offers prospective buyers a one-stop store solution that makes buying a property much easier.
A good reason to ask the managing directors Stefan Messar, Lukas Sattlegger and Patrick Kloihofer for an interview. After just a few minutes, you get the feeling that the trio works like Swiss clockwork: The strategist, the marketer and the technician mesh like well-oiled gears. A conversation about the key to success, dream homes on the waterfront and flexibility in times of crisis.
MYHOME.AT: FINDMYHOME.AT has recognized you as a “Top Developer” seven times in a row, which is a record. But what does this award mean for Glorit?
Stefan Messar: To be honest, we were really surprised when we were invited to the award ceremony for the first time. Because we didn’t expect it at all.
That is probably different now…
Lukas Sattlegger: We have thankfully been able to collect many awards in recent years, some in the business sector, some in the property developer sector, plus prefabricated houses and employees. However, the “Top Developer” award is of course particularly important to us because it is based on direct customer feedback.
All-round carefree package: service down to the last detail
Allow me to ask you: what do you do differently from the others?
LS: Our focus is very much on the customer. We deliberately want to be premium not only in terms of quality of workmanship and fittings, but also in terms of advice. That is extremely important to us.
SM: Over the years and decades, we have noticed that many customers actually want to do as little as possible themselves. Instead, they want everything ready-made from a single source. For this reason, we have continuously expanded our service package in recent years and created the all-round carefree package.
LS: The aim is to relieve the customer of as much work as possible. It starts with the consultation and continues with the sampling right through to the turnkey handover. Our customers don’t have to worry about anything. We even offer to design the outdoor facilities – paving and fences are already included anyway. This is all possible because we are practically four companies in one: Architectural office, prefabricated house manufacturer, property developer and construction company. This creates this one-stop-shop concept with a correspondingly high level of quality.
LS: And now we have added a fifth business segment: estate agency. On top of that, we have the right partners for smooth financing, as well as kitchen builders, interior designers, etc. at hand. This simplifies things enormously for our customers.
Our focus is clearly on the customer. We deliberately aim to be premium not only in terms of execution and equipment quality, but also in terms of advice.
Diversity in the portfolio: From the apartment to the villa
Because we are sitting here in one of your properties, in a wonderful location with a view of the Old Danube – what role do locations like this play in your success?
LS: With over 120 projects in our portfolio, we are probably the property developer with the greatest variety, as we are very active not only in residential construction, but also in house building. Every year, we bring around 30 new projects onto the market, and our portfolio ranges from apartments starting at 370,000 euros to villas with water views for 3.2 million euros. This range enables us to appeal to a broad target group. We are particularly proud of our projects on the Old Danube.
What makes the Old Danube so special for Glorit?
SM: It’s the combination of water, nature and urban proximity. Where else in a big city can you live right on the water and be at Stephansplatz in ten minutes on the subway? The Old Danube offers a lifestyle that is hard to beat. Our slogan ‘365 days of vacation’ really is the program here. However, the projects here usually take a long time to acquire properties and are also less common on the market.
Patrick Kloihofer: What’s more, it’s certainly two degrees lower here on the waterfront in midsummer than in the city center – that’s a factor that will certainly become even more relevant in the future. The 22nd district is by far the district with the most water and green spaces.
How many projects have you already implemented here?
SM: I haven’t counted them (laughs), but certainly around 25 to 30 projects with a view of the water, and around 50 to 60 in the surrounding area.
This means that Glorit is something like the top dog here.
LS: Definitely. And to make sure it stays that way, we also make sure we get the good properties.
PK: The basis of trust and the security that Glorit radiates is also recognized by property buyers. They know that the price we offer is good and will last. This also contributes to the success of the company in this area. People either call us directly or they come to us by word of mouth. We buy very little through estate agents.
Does the thought also come into play when buying land? Would I want to live here myself?
SM: In any case. In principle, we, the management, decide on purchases – in consultation with the architects. And we know what our customers value because all three of us work in sales. We focus on green locations with good connections to the city center. Examples include the 23rd district, Klosterneuburg, Langenzersdorf, the Mühlwasser area or the area around the Lobau. Our customers are looking for precisely this combination of nature and urbanity. Before buying a property, we check carefully whether the infrastructure is suitable, whether sufficient light and terrace areas can be realized and whether the location has that certain something. We often ask ourselves the question: ‘Would we want to live here ourselves? This identification with our projects is a key part of our success.
Do you have a current favorite project?
SM: Mine is definitely the Fischerstrand, also on the Old Danube, towards Gänsehäufel. Completion is planned for May. A wonderful project with an unbelievably beautiful view – and in the middle of Vienna, a five-minute walk from the subway. What other big city has something like this?
Keyword current projects: How does Glorit implement the topic of sustainability in its construction methods?
PK: Sustainability is not a trend for us, but a matter of course. Each of our detached houses is built in Groß-Enzersdorf, which reduces transportation routes. We rely on sustainable timber frame construction, high-quality wood-aluminum windows and real wood parquet flooring and only use durable top quality from well-known partners. We do not use plastic windows or laminate. We also think sustainably when it comes to energy supply. We use heat pumps and photovoltaic systems, often supplemented by a blackout package with storage options.
The Old Danube offers a lifestyle that is hard to beat. Our slogan ‘365 days of vacation’ really says it all here.
Flexibility in uncertain times
KIM regulation, interest rate hike & co: How have you responded to the challenges of recent years?
SM: We have reacted flexibly to this, created new pillars and thus avoided these issues. One example is the rental with purchase option. We have offered an alternative to customers whose financing was initially not possible. With us, you can initially rent the property and then buy it within four years. We assume that two thirds of all those who have done this will also take up this option.
LS: Our advantage In this respect, we are certainly positioned somewhat differently to other property developers. Firstly, we have a top credit rating and secondly, we don’t work with project-related companies that are dissolved after a short time, but only with an operating company that is equipped with 62 million euros in equity. This gives our customers the certainty that we will actually complete our projects. And that we will still be there in 30 years’ time to handle guarantees or complaints. Especially in turbulent times, customers take a closer look at things like this.
PK: And: We employ more than 100 construction workers, so we have the construction work and quality in our own hands – should a defect nevertheless occur somewhere, we can react quickly.
A look into the future: of scarcity and growth
Finally, an outlook for 2025 – what trends do you see for the future of the real estate market?
SM: First of all, the KIM regulation will fall in the middle of the year, which is very good. According to the forecast, there will also be four to five interest rate cuts. In addition, very few properties have been submitted in recent years, meaning that some developers no longer exist and there will be a significant shortage. On the other hand, Vienna is growing by around 20,000 people a year, which corresponds to a demand for 8,000 to 10,000 new residential units. This demand plays into our hands – especially in our preferred locations.
LS: The planned interest rate cuts are already priced into the current fixed interest rates. At the moment you can get top conditions below 3% again. So you shouldn’t wait for anything before buying a property, but act now – as long as there is still enough supply on the market. Because, as we have just said, this will soon change.
All photos: Sybille Sierlinger
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