A major success for FHWien der WKW: Elia Stefan, a graduate of the Master’s program Real Estate Management, won the “Best of Five Immo-Graduates” award at the 2026 IMMQU Awards. With her master’s thesis on the decarbonization of Vienna’s existing urban fabric, she prevailed over competition from four other universities.
Award-Winning Master’s Thesis on the Decarbonization of Vienna
On October 8, 2026, outstanding achievements by graduates with real estate education were honored at TU Wien. Elia Stefan, a graduate of FHWien der WKW, won the title “Best of Five Immo-Graduates 2026”. She prevailed over competitors from TU Wien, FH Kufstein, FH Wiener Neustadt, and the University for Continuing Education Krems.
Her outstanding master’s thesis is titled “Decarbonization of the Existing Urban Fabric — On the Tension Between Economic Viability and Social Justice in Thermal-Energy Renovations of Rental Buildings Regulated by Tenancy Law in Vienna”.
In it, she addresses a central challenge facing Vienna’s real estate sector: How can existing buildings be renovated in a climate-friendly manner without losing sight of economic viability and social justice? The thesis thus tackles a highly topical issue at the intersection of climate protection, the real estate sector, and housing policy.
Another Honor for FHWien Graduates
In addition to Elia Stefan, Philipp Lukas Baldauf was also recognized as the top graduate of his class at FHWien der WKW.
Paul Zödi, President of the Immo Invest Club Austria, delivered the keynote address at the event. Under the motto “AI is transforming real estate. You are shaping the future”, he emphasized the importance of the next generation of real estate experts and their innovative academic work.
FHWien der WKW extends its warmest congratulations to Elia Stefan on her outstanding achievement and to Philipp Lukas Baldauf on his award!
>> More information about the Master’s program Real Estate Management