Prices for prime residential property in the world's leading city markets rose by only 0.2%.
Meliá Hotels International will open its first location in Austria, in the country's tallest skyscraper. The Meliá Vienna will take up 17 of the 58 floors in the 722-foot-tall DC Tower I, according to a company announcement.
The most exclusive property in Austria's most expensive ski resort is for sale with a price tag of €35,000,000 (USD $47,540,525). The 13-bedroom chalet in the Tyrolean resort of Kitzbühel boasts a 16-seater cinema, a gym, sauna and spa complex and underground heated garage.
New-build apartments and chalets in Lech and Obergurgl, two of Austria's most exclusive Alpine holiday resorts, are available for sale, a rarity in the Austrian market. In many parts of the Alps, the property is owned by a small number of families.
Immofinanz Group has sold the Hilton Vienna Danube hotel for €48.4 million ($63.5 million) to a subsidiary of Internos Real Investors Kapitalanlagegesellschaft, Frankfurt am Main. The sale price was higher than the book value, the company said.
Melbourne, Australia, is the most livable city in the world, at least based on a complex formula devised by the Economist Magazine. Melbourne beat out Vienna and perennial winner Vancouver, primarily based on its infrastructure.
Austrians, wary of the Eurozone financial crisis, are placing their bets and their money these days in residential real estate. Like neighboring Germany, prices are rising in Austria, especially in the fabled city of Vienna. Select Property, an international residential broker based in London, notes the outskirts of Vienna have shown an increased demand for property which is driving up the prices.
According to STR Global, the European hotel market reported overall positive revenue per available room growth 12-months to January. Despite the economic conditions a majority of the 157 cities and destinations tracked in Europe, only 15 saw declining demand.
(VIENNA, AUSTRIA) -- The Ritz-Carlton Hotel Company announced plans to continue its global expansion with the brand's first hotel in the capital city of Vienna. The Ritz-Carlton, Vienna is owned by an investor represented by Verny Capital.
(LONDON, UK) -- STR Global announced today that after a tough year for the Vienna hotel market coming to a close, it is time to look ahead to 2010. STR Global, working in cooperation with the Oesterreichische Hoteliervereinigung, predicts occupancy...
(PRAGUE, CZECH REP.) -- Hotel owners in the Czech Republic are experiencing their second straight season of slumping occupancy.The number of guests staying in Czech hotels was down almost 9 percent in the first half of 2009 over last year....