Sacher’s bitter cake

The official summary of the Real Vienna fair begins by speaking of “realistic optimism” being felt by the real estate industry. However, was there actually any genuine sense of cheer to be found anywhere and 
at any point during the conference? The fourth meeting of this international fair focused on the countries of Central and Eastern and South-Eastern Europe, attracting 242 exhibitors – down from the 327 who exhibited in 2008 – with the number of visitors also falling to around 7,000 from more than 9,800 a year earlier. The event, as usual, was dominated by the Austrians and Germans, which might be why it proceeded so calmly. Operators from the CEE region appeared to smile more often than others – probably because the crisis arrived here later. Voices were heard at the fair claiming that this year’s meeting differed from that of 2008, which was held during what was still an investment and development boom. Although we are still in a real es