# Real Estate News

**Source**: https://www.tuwien.at/en/ace/real-estate-building/news/news/the-7th-bzp-award-for-masters-theses-in-law-was-presented-on-13th-november-2025
**Parent**: https://www.tuwien.at/en/ace/real-estate-building/news

21. November 2025

## The 7th BZP Award for Master's theses in law was presented on 13th November 2025.

Cornelia Kratzer, graduate of the MSc Real Estate Investment & Valuation programme, was honoured for her excellent master's thesis.

At the graduation ceremony in November 2025, the 7th BZP Award went to **Cornelia Kratzer** for her master's thesis entitled:\
"*Housing subsidy guidelines in Austria – A comparative economic analysis with a focus on non-profit housing developers*".

This paper focuses on a key instrument of Austrian housing policy: housing subsidies. Austria's federal structure has resulted in nine very different regional regulations. For non-profit housing developers – who manage a considerable portion of the housing stock – this means both complex requirements and significant potential. The master's thesis shows that although the federal states have comparable objectives, they implement them in very different ways.

The BZP Award, now in its seventh edition, recognises particularly outstanding master's theses in law written as part of the Master's programme in [Real Estate Investment & Valuation](https://www.tuwien.at/en/ace/programs/masters-programs/msc-real-estate-investment-valuation) at the [TU Wien Academy for Continuing Education.](https://www.tuwien.at/en/ace)

The award was initiated by **Mag. Guido Zorn, MSc**, together with **Bischof · Zorn + Partner Rechtsanwälte GmbH** and [Die Wirtschaftskanzlei](https://wirtschaftskanzlei.at/), and has since become an important stimulus for the promotion of research in real estate law.

The **TU Wien Academy for Continuing Education** congratulates **Cornelia Kratzer** on this award and thanks **Bischof · Zorn + Partner** for presenting the award for so many years.