You are building rental apartments. How high are the current rents?
The rents are between 8 and 10 euros per square meter, Added to this is the sales tax and the operating costs amounting to 1.40 to two euros per square meter. But there are also projects where the rents are higher, such as in Carinthia, and where they are lower, such as in Burgenland.
Where are you building new?
We conduct data-driven land acquisition, we look at where there is a need for housing on the outskirts of cities and where the infrastructure is already in place.
Many property developers are currently having difficulty with new construction because construction costs are high, land is expensive and interest rates have risen. How do you do that?
We have a very secure price through modular construction, as the companies we work with can produce in stock.
Regarding financing, we work with annuities that are lower at the beginning and increase with rental income. However, the Equity requirement increased slightly. The Construction costs Depending on the location, they range from 2,400 to 2,500 euros per square meter of usable space.
They usually build two-story buildings on greenfield sites without basements. Why?
The height of the buildings is limited by the building class, we could also build higher. We also try to use sealed areas that are no longer used, such as a bus station in Klagenfurt. Most of the buildings are on a Base platethis is simply a Cost factor.