2024-01-09 07:16:06
Real estate developer and property developer 3SI Immogroup: Review 2023 | Outlook 2024
Vienna (OTS) – Over 320 newly created apartments, around 100 condominiums sold, 14 project sales launches, several international awards: 3SI Immogroup will end 2023 as another successful financial year despite economically challenging influences. In 2023, 3SI was also able to acquire numerous inner-city properties; in addition to around 30 ongoing construction sites, the real estate developer has ten new construction projects planned for 2024. Managing director Michael Schmidt is optimistic about this year – in addition to continued intensive construction and purchasing activity by 3SI Immogroup, he expects the economic situation to stabilize as a result of a falling key interest rate.
“It was an intense, challenging but overall successful year for our family business. Gloria“ (Ehrenfelsgasse 12, 1120 Vienna) was awarded the European Property Award in the category “Residential Renovation / Redevelopment Austria” for “The Legacy(Landstraßer Hauptstraße 144, 1030 Vienna) 3SI Immogroup received the Luxury Lifestyle Award. The magnificent old building project “The Masterpiece” was nominated for the Vienna Urban Renewal Prize. Right at the beginning of the year, Michael Schmidt was recognized as a leading company in the luxury real estate segment by being listed among the “TOP 100 of the World”.
Milestone in company history: 3SI Luxury Real Estate showroom on Wiener Graben
The showroom at Graben 12, which opened in June 2023, will also remain in place in 2024: at the end of December, the rental agreement for the business premises in a prime central location was extended for a further 12 months. Those interested in real estate can find out about 3SI Immogroup’s current and planned real estate projects there from Monday to Saturday and by appointment, take VR tours and examine the material used in the construction projects. “For me, continuing to operate the business space in 2024 is the only right decision despite the economic situation; “The experiences and successes since the opening speak more than for themselves,” says Schmidt. The company put 14 real estate projects on sale in 2023, including the old building project “The Legacy“ (Landstraßer Hauptstraße 144, 1030 Vienna) or the new building projects certified with ÖGNI Gold in terms of sustainability “The Liberty“ (Am Freihof 7-9, 1220 Vienna) and “The Temptation(Schumanngasse 35, 1180 Vienna).
Forecast 2024: Decline in Austrian construction output, interest rate cuts expected
While 3SI Immogroup is once again relying on the credo “We buy and continue to build!” for 2024, the situation on the Austrian real estate market can be described as mixed, states Schmidt. The reduction in construction output, which will already become apparent in 2023, will lead to a shortage of supply as demand increases, and the prices for purchase and rental will rise equally as a result. “Forecasts by the city of Vienna assume population growth of +15.6% by 2053, that is 310,000 people. Given these prospects, curbing construction activity would be counterproductive. The 3SI Immogroup will therefore continue to buy and build just as intensively this year as in previous years,” emphasizes Schmidt. Overall, the developer expects interest rate cuts to ease and stabilize the market.
10 new old and new building projects planned for 2024
Schmidt is convinced that the demand for high-quality and sustainable living space in the old and new building segment will continue to exist this year, despite the current KIM regulation. The real estate developer has around ten new construction projects planned for 2024, including attractive new building projects in Antonigasse (1180 Vienna) or Linzer Straße (1140 Vienna) as well as exclusive old building projects in Tendlergasse (1090 Vienna) or Hernalser Hauptstraße (1170 Vienna). Interested parties can register for ongoing project updates without obligation via [email protected].
Additional Information:
www.3si.at
ABOUT THE 3SI IMMOGROUP
The 3SI Immogroup is a Viennese family business that has existed for three generations and specializes in the revitalization and development of apartment buildings as well as the high-quality conversion of attics. In addition to the renovation of historical buildings, 3SI Immogroup, as a property developer, has also been actively contributing to the sustainable creation of housing in the new building segment for years.
The family business with its new headquarters at Tegetthoffstrasse 7 between the Opera and Albertina currently has over 100 apartment buildings with a total area of more than 120,000 square meters in its portfolio. Since the company was founded, 3SI Immogroup has implemented over 200 construction projects in the old and new building segment. With over fifty employees and annual investments in the three-digit million range, 3SI Immogroup is one of the leading project developers in Vienna.
Questions & Contact:
Markus Sedlacek, MA
AD Consult GmbH
+43 664 1991629
[email protected]
Singerstraße 8 / Top 6, 1010 Wien
www.adconsult.at
1704785491
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