Buwog acquires Apa tower: New life for Vienna's eyesore?

Buwog acquires Apa tower: New life for Vienna's eyesore?

In a significant step at the Vienna real estate market, the Buwog Group recently acquired the high-rise in Gunoldstrasse, formerly known as the "Apa tower", from the project company of the Signa Development for 13.8 million euros. The net sale price is 11.5 million euros. This building was the seat of the Austria Press Agency (APA) until 2005 and has been empty since then. For the last few years, the "Interior" has served as a memorial for non-implemented construction plans. Sales.

The sale comes at a time when the Austrian real estate market faces some challenges. Despite the closure of new rental apartments and an increased demand, the situation for those interested in rent has been significantly tightened by the current tense supply. In 2024, only 2,500 new-financed rental apartments were provided, which marked the low point of the past seven years. BrickWise reports that the competition is intensive for rental objects because many potential buyers due to high interest Dodge uncertainties to the rental market.

The Buwog plans to revitalize the building in the long term and create sustainable and affordable living space. However, there are currently no concrete project plans because the ownership relationships have to be fully clarified. "We have a lot because of the development of this object," says a spokesman for the Buwog. My district reported that have been hindered in the past by asbestos and further obstacles.

A look at the neighborhood shows that the Buwog Group is already active in the Muthgasse urban development area. There it becomes clear that there is not only a need for new living space in Vienna, but innovative solutions are also required. The city is growing steadily, and the demand for energy-efficient apartments has increased, which drives the prices. has.

With the purchase of the APA tower, the Buwog Group not only wants to revive an old "eyesore", but also contribute to a sustainable living concept. The door to the new quality of life in Vienna could soon be opened, and it remains to be seen exciting which plans the Buwog Group are doing for the future of this striking high -rise building.