Immobilien: Trotz Wohnungsmangel: „Genehmigungsverfahren bleiben viel zu langsam“„Genehmigungsverfahren bleiben viel zu langsam“

Michael Fink, who has been CEO of Catella Investment Management since 2018, manages approximately ten billion euros' worth of real estate investments in 15 European countries. He sees the biggest untapped potential in urban housing demand, which remains constant while office space demand is declining. The renovation of office buildings into residential properties is crucial for cities, landlords, and investors in the long run.

Fink's personal breakthrough moment in real estate and construction was the completion of a student housing complex with around 160 apartments in Karlsruhe in 2011. The area had two student dormitories from the 1960s and 1970s with waiting lists of over 500 students and a waiting time of two to three years. Despite this, it took years to obtain a building permit for a new building.

Even after the project was completed and the building opened, there was still much to be done. The permitting process remains far too slow, even in cases where there is broad consensus on the need. Recently, the federal government awarded billion-dollar contracts for Bundeswehr barracks, including to the Max Bögl group, which will build over 100 accommodation buildings using prefabricated components. Modular construction based on standardization is a field of the future.