“In turbulent times, real estate is a safe haven”. While the crisis continues to build up globally, a real estate company is recommended to invest in “concrete gold”, i.e. real estate. Among other things, also in a controversial project in Innsbruck: the Stadt-Carré.
INNSBRUCK. Investing in real estate is nothing new. And neither does the problem that investor apartments bring with them: They are hardly rented and remain empty. This boosts prices on the housing market. A vicious circle. The problem is well known in Innsbruck.
Concrete gold as a safe investment
While an investment in real estate is more than understandable from an economic point of view in the current tense situation, this exacerbates the situation in an already nervous real estate market – as is well known in Innsbruck. That’s why a broadcast from the real estate company was so sour: It advertised “concrete gold”, as investor apartments are called.
Stadtcarré apartments: 9,500 euros/sqm
The broadcast shows a lighthouse that lures people into the “safe haven”. Well, if you look at home prices, you’ll see right away that these aren’t bargains tailored for middle-class people. For example, the apartments in the Stadt-Carré in Wilten are divided into three categories: Micro, Classic and Premium. You can even take a digital tour of the controversial housing project. One 28.53 sqm apartment costs 272,000 euros here – the price per square meter is therefore over 9,500 euros. That’s 1,000 euros more than the average (very high) property price in Innsbruck – according to wohnungsboerse.net – is.
This very project, which has now entered the sales phase, was the subject of public criticism. At first the residents of the former ÖBB apartments did not want to move out, later the SPÖ criticized that there was no added value for the public. 200 privately financed apartments are opposed to 40 student rooms. The project was nevertheless implemented and is now being sold quickly.