Bankruptcy shock in Pongau: Oberreiter and Hausbacher on the brink of extinction!

Bankruptcy shock in Pongau: Oberreiter and Hausbacher on the brink of extinction!

What's going on in Pongau? The real estate industry in the region has suffered a severe setback because the Oberreiter Holding from Flachau and the Hausbacher Group from St. Johann im Pongau have filed for bankruptcy. With this news, not only are the companies affected facing major challenges, but also the numerous projects that were already on the brink. Loud Chip.de A total of up to 12 subsidiaries and project companies are affected, which together have liabilities of at least 25 million euros.

The bankruptcy was initiated at the request of creditors. Proceedings were opened at the Salzburg Regional Court for several companies, including Golden Lodges Pitztal GmbH and Alpen Residenz Altenmarkt GmbH, both of which have high liabilities in the three-digit million range. The reasons for this setback include the corona pandemic and the tense situation on the real estate market, where there is a lack of investors and buyers. Additionally, in one case, a building land certificate was deemed incorrect after the purchase of a property, which prevented the municipality from correcting the errors, reported Salzburg24.

Projects at risk

Oberreiter Holding clearly plans not to continue its business operations, which further exacerbates the situation. A separate company was founded for each project, which means that many projects have now come to a standstill or even have to be stopped altogether. Many of the companies affected are 50:50 subsidiaries of both parent companies. A joint property developer is also one of the insolvent companies, which makes the situation even more complicated.

The uncertainties in the real estate market are not just a local phenomenon. The general trend shows that the number of bankruptcies in the real estate industry is increasing significantly. The number of insolvencies in real estate companies with sales of more than ten million euros will have more than doubled in 2024, according to an analysis by the Falkensteg management consultancy. The interior construction sector is particularly affected by this crisis, where bankruptcies have almost tripled ( Immobilienmanager.de ).

A look into the future

The outlook is bleak. Experts expect a further increase in insolvencies in the industry by around 50 percent in 2025. Christian Alpers from Falkensteg recommends sitting out the situation and relying on active inventory management. In the meantime, investors must ask themselves how they will deal with the difficulties, as many properties that were purchased at high prices years ago have now lost value.

It remains to be hoped for the region and the companies affected that the situation will improve soon. Otherwise, both investors and those in the construction industry face an unpleasant future where uncertain business conditions and lack of demand are the norm. The real estate market urgently needs a breath of fresh air in order to meet the challenges of the next few years.