Real estate as a form of investment has always been high in demand. In addition to private investors, in particular the institutional investors and investors such as banks, insurance companies, pension insurance funds or international (open and/or closed) funds welcome the opportunity to add a real estate element to their investments.
And these real estate investments have increased steadily over the past few years. In an economic environment where interest rates are still very low and the returns from real estate investments are, in comparison, attractive, the rising interest in the latter is not really surprising. An assessment of the respective local real estate markets can sometimes be quite difficult. Every market is subjected to its own technological, social and demographic changes and dynamics. Due to these challenges the real estate industry is reliant on diverse skills and experts. This brochure offers information which primarily focuses on investment opportunities in Germany, Austria and the CEE/SEE region for 2019 and is updated once a year. It is intended to provide the institutional investor with a brief, practice-oriented overview of the individual countries in order to create a preliminary basis for possible investment decisions.
As in particular the smaller countries in the CEE region still partly offer very interesting returns and opportunities, this brochure can also act as a motivation to look at certain countries that until now have not been on the radar screen for most institutional investors. The tax overview shows the essential aspects which are significant regarding real estate transactions in
the target market. Tax legislation is currently subject to many changes, which can be traced back particularly to stricter measures on an EU and/or OECD level.
TPA tax expert for international real estate investments Gerald Kerbl conducted the study together with CBRE.