So every slow-moving item now sells itself?
Every property is for sale. Properties that do not move quickly on the market are incorrectly priced. The customer is much better informed today than ever before. All questions can be answered on the internet. As a broker you have to build trust in customers and also explain that we can do a much better valuation than a private person. You are sure to save money there. I look after the customer until they are signed. It’s a long process that is even more intense when selling high quality real estate. In the background, I make sure that everything is legally in order.
What is the difference between men and women when it comes to buying?
A woman researches extremely well before contacting a realtor. The man usually pays, but the woman is often the decision maker. Even with a capital investment there are different approaches. Women consider whether they want to live in this property one day or buy it for children or grandchildren, while the man simply sees the capital investment.
Could low interest rates create a real estate bubble that will burst one day? The prices are already very high.
We won’t have a real estate bubble like the one that existed in America, because Austrian buyers still have a very high share of equity. In some places there may be a drop in prices, but nothing will change with the “3L” – ie “location, location, location”.
Where could there still be future markets in Austria? Semmering or Rax, for example, will experience a revival. The same applies to the Salzkammergut. One longs for a certain culture of life and tries to shape life after the pandemic in such a way that one has freedom.
Are the mayors in the Salzkammergut, for example on the Attersee, innovative enough? Grocery stores, cafés, beautiful hotels, and infrastructure are becoming less and less common.
The communities in the lake areas are trying to focus on local supplies again. The corner shop is coming back. Of course, when you have a holiday home you make an effort to spend time at home. Guests are invited to their homes. We are experiencing a return to a kind of Biedermeier period: people bring culture, good food and the chef into their own home.
The real estate prices are so high that many cannot afford this life.
Yes, but we live in Austria in the generation of heirs. This is also my large clientele. With the younger generation, sharing is an increasingly important issue: buying a property together and sharing it so that you don’t always drive to the same place. A trend that comes from America and also affects cars. In Vienna it’s no longer so important to own a car, that’s different in Salzburg. The underground network in Vienna is world class, and Vienna is still underestimated. Compared to Kitzbühel or Salzburg it has more moderate prices. I can also buy an apartment in Vienna without having to set up a main residence.