1
2023 edition
Every new situation calls for new architecture. — Jean Nouvel
editorial
03
Dear Reader,
Pandemic aside, new challenges for the real estate industry dominated in 2022. Inflation, price hikes, energy crisis, new lending regu- lations, and the war against Ukraine have left their mark on the market. The year 2023 will also put many businesses and companies to the test across the gamut of industries and specialisations with increased real estate costs reflected in temporarily post- poned construction kick-off dates, which may exacerbate the supply situation even more. Even so, the Viennese housing market still holds plenty of potential for developers thanks to consistently high demand. We are pleased to provide a broad and deep overview of current developments, trends, and opportuni- ties in our eleventh edition of the First Vienna Residential Market Report, a joint publication by BUWOG and EHL Immobilien. The past decade has seen our report grow into an established and relevant reference work, one that has gained even more significance in the face of all the change and uncertainty in recent times. The wealth of content in the Residential Market Report provides wide-rang- ing benefits. We have generated our compre- hensive market expertise using annual data collection and research, incorporating the data directly into our projects and services; the main beneficiaries are our customers and
business partners. Apart from that, the report provides a solid source of information for the many apartment seekers in Vienna also anticipating exciting project completions in 2023, and no less importantly, city planners, municipal departments, scientific institutions, institutional investors, and other stakeholders. Last year’s completion boom warrants a fresh analysis of market activities alongside a risk and opportunity analysis as never before, especially with regard to the globally tense economic situation together with changes in housing and living habits as well as new re- quirements on residential real estate. Despite the new challenges, the Vienna housing market still holds plenty of poten- tial for developers thanks to consistently high demand.
We have every reason to look forward to what the New Year has in store for us, and wish you an exciting read as well as a successful 2023 on the Vienna housing market.
Yours sincerely,
Mag. Daniel Riedl FRICS Director, Vonovia SE
Andreas Holler BSc Managing Director of BUWOG Group GmbH
KommR Mag. Michael Ehlmaier FRICS Managing Partner of EHL Immobilien GmbH
Karina Schunker MA MRICS Managing Director of EHL Wohnen GmbH
FIRST VIENNA RESIDENTIAL MARKET REPORT 2023
Vienna is growing Vienna has been seeing an increase in residents year on year, each year adding to the residential space requirement.
11
19
39
Vienna’s districts in detail Each of Vienna’s twenty-three districts has its own special character, this affects construction activity and real estate supply.
67
The future human habitat
Pleasantly cool in the summer, cosy and warm in the winter – a dream home? This is already a living reality in many of Vienna’s residential buildings.
Superb references BUWOG Group GmbH and EHL Wohnen GmbH have an exciting array of real estate projects in store.
contents
05
Editorial
03
The districts of Vienna
References BUWOG & EHL
05 06 07
17 19 21 23 25 27 29 31 33 35 37 41 43 45 47 49 51 53 55 57 59 61 63 65
67 69 71 73 75 77 78 79 80
Table of contents BUWOG Group GmbH EHL Wohnen GmbH
Living in Vienna 1010 Wien · Innere Stadt 1020 Wien · Leopoldstadt 1030 Wien · Landstraße 1040 Wien · Wieden 1050 Wien · Margareten 1060 Wien · Mariahilf 1070 Wien · Neubau 1080 Wien · Josefstadt 1090 Wien · Alsergrund 1100 Wien · Favoriten 1110 Wien · Simmering 1120 Wien · Meidling 1130 Wien · Hietzing 1140 Wien · Penzing 1150 Wien · Rudolfsheim-F. 1160 Wien · Ottakring 1170 Wien · Hernals 1180 Wien · Währing 1190 Wien · Döbling 1200 Wien · Brigittenau 1210 Wien · Floridsdorf 1220 Wien · Donaustadt 1230 Wien · Liesing
EHL / Apostelhof BUWOG / DECK ZEHN EHL / Zwerngasse 49 BUWOG / Kennedy Garden EHL / Das Forsthaus 11 BUWOG / RIVUS VIVERE
Residential market
09 10 11
Ownership structure Demography Austria Demography Vienna Households in Austria Households in Vienna Sinus-Milieus ® On the go in Vienna Trend theme: The future human habitat
Closing words Glossary Imprint
12 13
14 16 39
BUWOG Group GmbH
Living in happiness
Our high-quality real estate portfolio at BUWOG Group GmbH currently encompasses 21,413 units in Austria as well as around 6,660 residential units in development mainly located in Vienna. Numerous awards – national and international – reflect our successful activities on the real estate market, which are especially due to the contribution made by our 399 employees. Our employees bring our capabilities, commitment, and professionalism shared by our team to the fore. We at BUWOG Group GmbH have been a wholly owned subsidiary of Bochum-based Vonovia SE, Germany‘s leading housing company, since January 2019.
Founded more than seventy years ago, BUWOG Group GmbH has established a firm position as a successful company on the Austrian residential real estate market. A number of factors have contributed to the com- pany’s extremely successful
positioning. Planning, construc- tion, utilisation and management of apartments and entire properties have always benefited from the expertise and experience of BUWOG.
Our company has solid foundations with unique know-how accumulated and continuously extended over many years in every area of construction and housing. Our business model is based on three pillars and business areas: portfolio management, unit sales, and project development; these form the basis of our diverse range of services while covering the entire value chain in the Austrian housing sector in equal measure. To this end, we place top priority on satisfying the high expectations on quality of our customers.
EHL Immobilien Gruppe
07
We live for real estate
EHL Wohnen GmbH is part of the EHL Immobilien Group and one of the leading estate agents in Greater Vienna. Apart from arranging rented, occupier-owned and investment contracts as well as brokering land and houses, the company operates in property development consulting for developers with advice on planning and mar- keting for their projects. EHL Immobilien was founded in 1991, and is one of Austria‘s leading residential property service suppliers specialising in residential, commercial, and investment properties. Our range of services extends from estate agent services and property valuation to asset - and portfolio management; market research and investment consulting.
EHL has received many awards. These include the IMMY quality award from the Vienna Chamber of Commerce that the company has received eleven times in a row. EHL has also received twelve Cäsar awards, and has been named Austria’s greatest real estate brand, again eleven times in a row. In 2022, EHL arranged about 1,850 residential unit deals (rental, property, investment) and 49,000 square metres of office space, com- manding a total transaction volume of 1.47 billion euros. The annual volume from the fast-growing property valuation segment amounts to around 18 billion euros. The company’s exclusive partnership with the BNP Paribas Real Estate global service provider secures a global framework for the EHL Group with market know- how in 23 countries.
FIRST VIENNA RESIDENTIAL MARKET REPORT 2023
Ideally, modern architecture is always about people. — Richard Meier, architect
ownership structure
09
The ownership structure on the Viennese housing market is unusual compared to Austria’s other eight federal states. Vienna has around 926,000 apartments considered occupied, with around 76 percent of house- holds in rented accommodation. Of these rental apart- ments, 43 percent are owned by the City of Vienna or non-profit housing associations, making an important contribution to social housing in Austria’s capital.
The percentage of owner-occupied apartments in Vienna and Austria is almost equal – however, in comparison to other types of housing, owner-occupied apartments are less common on the Viennese market. Single-family homes constitute the most popular form of housing in Austria but occupy rather a small proportion of housing options in Vienna due to the urban structure.
Housing stock 2022
Vienna
Austria
Absolute figures
Absolute figures
926,000
4,019,700
Total apartments as main residence
55,560
1,483,269
Owner-occupied houses
120,380 703,760 203,720 194,460 305,580
442,167
Owner-occupied apartments
1,688,274 277,359 663,251 747,664
Rented
Social housing
Cooperative housing
Other rentals
46,300
405,990
Other
Source: Statistics Austria, deviations possible due to rounding differences
demographics of austria
A total of 9,039,449 people lived in Austria in 2022 with current forecasts pointing to further growth. This is due to the well-developed infrastructure, comprehensive social benefits, and high-quality leisure activities available in Austria. Austria offers a colourful variety of residential housing and human habitats that are highly appreciated by locals, newcomers, and investors.
Demographic outlook for Austria 2022 to 2080
Age profile of population as at January 1, 2022
9,039,449
10,260,530
Population
> 65 years 19.31%
19.14%
10,000,000
0-19 years
8,000,000
A
6,000,000
Ø age 43.2 years
0-19 years 60.87%
4,000,000
2,000,000
Year
0
2000 2010
2030 2040 2050 2060
2070
2022
2080
Forecast to 2080
→ This corresponds to an increase by 13.5%. → 28.9% of the population will be 65 years or over.
→ The number of people below the age of 20 will fall to 18.8%. → In 2080, more than 10 million people will be living in Austria.
demographics of vienna
11
The two-million mark is drawing closer and will be reached by 2028 according to the latest population fore- cast. Vienna welcomes more residents every year, which translates to an additional need for living space every year even if the growth spurt temporarily has been slowing down somewhat in recent years.
Demographic outlook for Vienna 2022 to 2080
Age profile of population as at January 1, 2022
2,461,005
1,953,417
> 65 years 16.54%
19.39%
0-19 Years
Population
2,000,000
W
Ø age 41 years
1,750,000
64.06%
20-64 Years
1,500,000
Year
1,250,000
1990
2000 2010
2030 2040 2050 2060
2070
2022
2080
Forecast to 2080
→ In 2080, approx. 2,582,968 people will be living in Vienna. → This corresponds to an increase by 26%. → 25.9% of the population will be 65 years or over. → The number of people below the age of 20 will fall to 17.9%.
households in austria
The trend towards smaller households continues unabated despite the popularity of single-family homes in Austria: the average Austrian household had 2.19 members in 2021. The number of private households will reach 4.5 million in 2050 and the proportion of single-person households will increase to 41.5% by 2050 according to a forecast by Statistics Austria. This development combined with a looming climate crisis will make a new approach to urban development inevitable.
Private households in Austria Forecast for single and multiple-person households 2022 to 2060
Households
3,000,000
2,624,439
2,489,335
2,500,000
1,887,335
2,000,000
1,552,964
Single-person households
1,500,000
Multiple-person households
1,000,000
500,000
0
Year
2022
2060
Forecast to 2060
→ One-person households: up by 21.53% → Multi-person households: up by 5.43% → Private households: up by 12.06%
households in vienna
13
Austria’s capital had 959,994 private households in 2021 at an average of only 2.02 members per household. The trend towards ever smaller households is also becoming apparent in Vienna, explaining the increasing need for new apartments to be covered by increased construction.
Private households in Vienna Forecast for single and multiple-person households 2022 to 2060
Households
579,598
600,000
521,552
521,598
500,000
438,442
400,000
Single-person households
300,000
Multiple-person households
200,000
100,00
0
Year
2022
2060
Forecast to 2060
→ One-person households: up by 18.97% → Multi-person households: up by 11.13% → Private households: up by 14.71% → Around one million households in Vienna by 2030
sinus-milieus ®
Who live
Sinus-Milieus ® constitute a model that groups people according to their basic attitudes and lifestyles. Sinus-Milieu groups differ with regard to their consumer behaviour, lifestyle, and living environment.
traditional milieus
Upper Class/ Upper Middle Class
Conservative Established The old structurally conservative elite: classic ethics of responsibility and hard work as well as claims to exclusivity and status; optimistic attitude, high self-confidence, desire for order and balance Traditionals The older generation with a longing for law and order: anchored in the petty-bourgeois and traditional blue-collar culture; unpretentious adaptation to need
-
CONSERVATIVE ESTABLISHED
POS
Middle Middle Class
central milieus
NOSTALGIC MIDDLE CLASSES
Nostalgic Middle Classes The system-critical erstwhile middle class: desire for stable conditions and appropriate status together with criticism of prevailing conditions; overwhelmed by, and apprehensive of, social decline, feeling of being left behind by the current political and media mainstream; longing for the ”good old times“ Adaptive Pragmatists The flexible benefit-oriented mainstream: distinctive prag- matism as an approach to life, high degree of willingness to adapt and work hard; utilitarian philosophy, but also a desire for fun and entertainment; pronounced need for roots and belonging Progressive Realists The trendsetters: willingness to change, pronounced prob- lem awareness of global challenges; synthesis of responsibi- lity and self-realisation, disruption and pragmatism, success and sustainability, party and protest
Lower Middle Class/ Lower Class
TRADITIONALS
CONSUMPTION ORIENTED
BASIC ORIENTATION
Traditional values
Moderni
Source: INTEGRAL Markt und Meinungsforschungsges.m.b.H.
15
es how?
upper class
High Achievers The globally oriented modern elite with an optimistic view of future progress: efficiency, personal responsibility, and individual success take top priority; global economic and liberal thinking; economic rationality as the benchmark in every sphere of life; high technology and digital affinity Postmaterialists The cosmopolitan critics of society and zeitgeist: diverse culture-oriented, cosmopolitan interests but critical of globalisation; proponents of post-growth economy and sustainability, non-discriminatory conditions and diversity Cosmopolitan Individualists The avant-garde individualistic lifestyle: mentally and geo- graphically mobile, connected online and offline; in search of new frontiers and unconventional experiences, solutions and achievements; excellent self-expression skills
HIGH ACHIEVERS
COSMOPOLITAN INDIVIDUALISTS
STMATERIALISTS
PROGRESSIVE REALISTS
ADAPTIVE PRAGMATISTS MIDDLE
HEDONISTS
the modern lower class
Consumption Oriented The lower class striving for orientation and involvement: belonging and keeping up with the lifestyle and standard of living of the broad middle class, but hampered by accumu- lated social disadvantage and exclusion; feelings of being left behind, bitterness, and resentment Hedonists The (lower) middle class hungry for new experiences, living for the moment: fun in the here and now; balance between professional adaptation and leisure escapism; refusal to accept mainstream conventions, heavy identification with peer group
isation
Reorientation
On the go in Vienna
Vienna is connected by a network of roads totalling around 2,800 kilometres. Vienna’s metro service covers around 500 km of track. Apart from public transport, the city has a cycle-path network totalling 1,600 km allowing people to explore the surrounding nature.
current route of U2 metro line, to become U5 metro line U5 line under construction U2 line under construction
21.
A22
Leopoldau U
19.
Floridsdorf
S2
Heiligenstadt
20.
22.
17.
18.
Spittelau
14.
9.
Seestadt
16.
Elterleinplatz
1.
6. 7. 8.
2.
Ottakring
Stephansplatz
15.
Karlsplatz
4.
3.
Westbahnhof
Hütteldorf
5.
A1
13.
12.
Simmering
Wienerberg
11.
A4
10.
23.
Oberlaa
A23
Siebenhirten
S1
A21
04
living in vienna
17
The table summarises all the important facts and figures on residents, income, and sales and rental prices in each district. Prices are quoted per square metre as agreed at the time the contract was concluded, rather than offer prices.
Sales prices are quoted as purchase prices per square metre of net living area excluding parking spaces and utilities. The following pages give a detailed impression of the essential demographic data, statistical details, and information covering the peculiarities of the twenty-three districts of Vienna.
Districts
RESIDENTS
INCOME*
SALE PRICES ON CONCLUSION
RENTS ON CONCLUSION
First occupancy
Other
First occupancy
Other
1010 Wien · Innere Stadt 1020 Wien · Leopoldstadt 1030 Wien · Landstraße 1040 Wien · Wieden 1050 Wien · Margareten 1060 Wien · Mariahilf 1070 Wien · Neubau 1080 Wien · Josefstadt 1090 Wien · Alsergrund 1100 Wien · Favoriten 1110 Wien · Simmering 1120 Wien · Meidling 1130 Wien · Hietzing 1140 Wien · Penzing 1150 Wien · Rudolfsheim 1160 Wien · Ottakring 1170 Wien · Hernals 1180 Wien · Währing 1190 Wien · Döbling 1200 Wien · Brigittenau 1210 Wien · Floridsdorf 1220 Wien · Donaustadt 1230 Wien · Liesing
15,700 104,688 93,744 33,007 53,731 30,958 31,326 24,189 41,382 212,255 106,078 97,909 53,959 92,989 75,635 101,638 56,014 50,865 73,873 84,471 178,185 203,823 115,174
€ 37,250 € 24,930 € 27,450 € 29,010 € 23,096 € 26,528 € 27,866 € 28,488 € 27,518 € 21,487 € 22,629 € 22,484 € 31,718 € 26,570 € 20,865 € 22,343 € 23,890 € 28,749 € 29,902 € 21,200 € 24,381 € 26,722 € 27,268
n/a** € 13.80 € 14.20 € 14.80 € 13.10 € 14.50 € 14.80 € 15.00 € 14.80 € 13.50 € 12.00 € 12.50 € 14.20 € 13.50 € 12.50 € 12.90 € 13.00 € 14.50 € 14.90 € 12.50 € 12.30 € 12.10 € 12.50
n/a** € 11.40 € 12.20 € 12.60 € 11.80 € 12.50 € 12.60 € 1 2.90 € 12.60 € 10.80 € 10.50 € 11.20 € 12.60 € 11,90 € 11,20 € 11.40 € 11.40 € 12.40 € 12.60 € 11.50 € 11.30 € 11.20 € 11.50
€ 22,000 € 6,550 € 6,650 € 7,050 € 5,850 € 6,800 € 7,050 € 7,700 € 7,500 € 5,500 € 5,150 € 5,500 € 7,500 € 5,950 € 5,400 € 5,650 € 5,500 € 7,500 € 8,300 € 5,200 € 5,250 € 5,150 € 5,550
n/a** € 4,850 € 4,950 € 5,250 € 4,750 € 5,150 € 5,350 € 5,600 € 5,450 € 3,900 € 3,700 € 4,100 € 5,600 € 4,100 € 3,950 € 3,950 € 4,050 € 5,350 € 5,800 € 3,800 € 3,700 € 3,650 € 3,950
* Source: Wage tax statistics for 2021, average annual net income for employees in total, in euros, valid as at December 2022 ** The sample observed was too small to deliver reliable and accurate information.
Imperial charm
Schulerstraße 1-3 / BUWOG
Graben
Vienna’s radiant downtown
Vienna’s historic downtown, the First District benefits from its magnificent buildings and many sights such as St. Stephen’s Cathedral, Opera, Burgtheater, and Hofburg. This explains not only the district’s extraordinary ambience that inspires residents and visitors alike, but also the high price levels on the housing market: the prices in Vienna’s downtown are in stark contrast to those in the neighbouring districts for reasons including the highly limited volume of new buildings in Vienna’s most prestigious, and also densely developed, location. Project development has once again decreased significantly following completion of high-quality construction projects around Börse- platz, Parkring, and Schellinggasse. Even so, there are other projects in progress such as Werder Six and Am Werdertor (both on Werdertorgasse), Kayser on Franz-Josefs-Kai, and prestigious loft conversions on Stubenring
and Eßlinggasse. The high level of demand despite the high prices comes up against a low supply of new buildings. The apartments in the First District are heavily sought-after with buyers from all over the world, resulting in prices per square metre in the five-digit range comparable to other metropolitan cities in Europe. Plans to restrict car traffic in the city centre are another positive factor from the housing market perspective as shown in increased prices around Rotenturmstraße, which has been traffic-calmed for a few years now. The leisure and culinary opportunities on the hip Donaukanal, or Danube Canal, in particular contribute to favourable development towards Schwedenplatz and Franz-Josefs-Kai.
1010 wien – innere stadt
19
Börseplatz 1 / EHL
Schottenring
Rotenturm- straße
Schottentor
Schulerstraße 1-3 / BUWOG
Rathausplatz
Schwedenplatz
Herrengasse
Rathaus
Stephansplatz
Stubentor
Volkstheater
Museumsquartier
Stephansdom
Stadtpark
Schellinggasse 7 / EHL
Karlsplatz
FACTS Demography
Sinus-Milieus ®
Residents
15,700 8,723
Upper class Traditional milieus Central milieus Modern lower class
Main residences Persons/household
1.80
Moved in Moved out
+ 1,754 - 1,877
Migration balance
- 123
Housing prices Owner-occupied First occupancy
Foreign nationals
€ 22,000/m2
5.9%
32.2%
Vienna Innere Stadt
Other
k. A.*
3.9%
> 65 years 26.4%
6-14 years
25.7%
0-5 years
9.2%
Rented First occupancy
15-24 years
Average income (net)
k. A.* k. A.*
€ 24,401
Vienna Innere Stadt
Ø age 47.3 years
Other
€ 37,250
Invest. property € 8,000 to € 14,000/m2
Average age
54.5%
25-64 years
188 land registry transactions for apartments in 2022 saw purchase prices total around € 298 million.
40.7
Vienna Innere Stadt
47.3
*The sample observed was too small to deliver reliable and accurate information
Classic meets modern
BRUNO / BUWOG
Praterau / Lusthaus
Downtown diversity with a modern touch
Living on an island: Leopoldstadt between Donaukanal and the Danube. Residents especially appreciate the combination of idyllic surroundings and pulsating activity here; apart from the Prater, Vienna‘s green lung with its diverse local recreational op- portunities, the Second District is special in its urban diversity. The past few years have seen several new quarters emerging and breathing new life into the Second District. Another construction phase is due to be completed in the first half of 2023 with numerous apartments on the site of the former Nordbahnhof railway station, one of Vienna‘s most important inner-city urban development areas with spacious parks and a wide variety of infrastructural services. The BRUNO, Taborama, URBAHN – City Homes, Citylife projects as well as parts of the Mitten im Zweiten project are already ready to move into, while others are still under construction. On the whole, the location will offer several thousand new apartments with excellent connections to downtown Vienna. The LeopoldQuartier development
along Donaukanal is in further planning with a focus on innovation and ecology in various architectural styles and utilisation opportuni- ties on an area encompassing around 23,000 square metres. Projects including the Das Artmann building are currently under development in the immediate vicinity. The development axis on the banks of the Danube is also worth emphasising. The MARINA TOWER was com- pleted in early 2022, triggering development on Vienna‘s waterfront. The medium to long term will see a whole series of high-quality projects completed here such as BAI-Tower and the Albrechtskaserne barracks site. The area known as Vienna’s Jewish quarter is currently undergoing a remarkable change as a residential area. Despite the district’s alternative chic and central location, prices in Leopoldstadt have long since been lagging somewhat behind the western central districts. Leopoldstadt is now increasingly developing into a top modern location with rents and purchase prices in the district only recently growing above the general price level for Vienna.
1020 wien – leopoldstadt
21
Taborstraße 123 / EHL
Augarten
BRUNO Bruno-Marek-Allee 22 / BUWOG
Engerthstraße 216 / EHL Ausstellungs- straße 50 / EHL
Praterstern
Schottenring
Stadion
Schwedenplatz
Donaumarina
MARINA TOWER Wehlistraße 291 / BUWOG
Praterkai
FACTS Demography Das Artmann Obere Donaustraße 19-21 / EHL
Prater
Sinus-Milieus ®
Residents
104,688 53,388
Upper class Traditional milieus Central milieus Modern lower class
Main residences Persons/household
1.96
Moved in Moved out
+ 12,769 - 13,383
Migration balance
- 614
Housing prices Owner-occupied First occupancy
Foreign nationals
€ 6,550/m2 € 4,850/m2
35.2% 32.2%
Vienna Leopoldstadt
Other
6%
> 65 years 15.1%
8.3%
0-5 years
6-14 years
Rented First occupancy
Average income (net)
€ 13.80/m2 € 11.40/m2
12.3%
€ 24,930 € 24,401
Vienna Leopoldstadt
15-24 years
Ø age 39.7 years
Other
Invest. property
€ 3,500 to € 6,100/m2
Average age
58.4%
25-64 years
883 land registry transactions for apartments in 2022 saw purchase prices total around € 422 million.
39.7 40.7
Vienna Leopoldstadt
Everything in one place
Hundertwasserhaus
HELIO Tower / BUWOG
From embassy quarter to high-rise hotspot
The Landstraße district features a unique balance between historic buildings and new construction projects.
and Die goldene Nachtigall near the Hundertwasserhaus will also provide the district with additional residential space.
However, the popularity of Landstraße as a residential area extends beyond the busy new-build construction activity. Considering its location close to the city centre, the district also has an unusually large share of green space such as the botanical gardens and Belvedere palace gardens, and its convenient transport connections with the U3 metro, regional railway services, motorway junction, and city exit towards the airport. Some parts of the district still offer plenty of room for new projects, but the embassy quarter between Vienna down- town, Rennweg and Ungargasse is already densely built up with only enough space left for few developments. These con- struction projects include Rechte Bahngasse 20 and Heumarkt 25. Housing costs are as varied here as the individual parts of the district due to the price gradient from the northwest to the southeast of the district.
Known to many as the embassy quarter, the district has stylish apartment buildings from the Wilhelminian period, magnificent palaces, and a number of diplomatic missions vying with the striking presence of new residential high-rises. The develop- ment area around The Marks in particular with the HELIO Tower, The One , and the Q Tower has recently begun to dominate the district’s skyline. The new living space also attracts new residents, with the heavy demand reflected in mainly younger target groups attracted to the district’s diversity. Finally, Media Quarter Marx, Marx Halle, and a planned event hall to host an audience of 20,000 will make their contribution towards turning these locations into a new hotspot for urban life in Vienna. The district’s planning phase is well underway in Neu Marx, boosting the attractiveness of the area around Erdberger Mais even more. The Village im Dritten development, a project at Grasberggasse 9-11,
1030 wien – landstraße
23
The Ambassy Beatrixgasse 27 / EHL
IU – Erdberger Lände 36-38 / EHL
Landstraße
Arsenal / EHL
Rochusgasse
Stadtpark
Kardinal-Nagl-Platz
Landstraßer Hauptstraße
Rennweg
Schlachthausgasse
Erdberg
St. Marx
Quartier Belvedere
Gasometer
Apostelhof Apostelgasse 25-27 / EHL
HELIO Tower Döblerhofstraße 10 / BUWOG
FACTS Demography
Sinus-Milieus ®
Residents
93,744 49,708
Upper class Traditional milieus Central milieus Modern lower class
Main residences Persons/household
1.89
Moved in Moved out
+ 12,064
- 11,751
Migration balance
+ 313
Housing prices Owner-occupied First occupancy
Foreign nationals
€ 6,650/m2 € 4,950/m2
33.6% 32.2%
Vienna Landstraße
Other
5.4%
> 65 years 16.3%
7.1%
0-5 years
6-14 years
Rented First occupancy
Average income (net)
11.1%
€ 14.20/m2 € 12.20/m2
15-24 years
€ 24,401
Vienna Landstraße
Ø age 40.9 years
Other
€ 27,450
Invest. property
€ 2,800 to € 6,100/m2
Average age
60.1%
25-64 years
951 land registry transactions for apartments in 2022 saw purchase prices total around € 420 million.
40.7
Vienna Landstraße
40.9
Solid middle- class flair
Schwindgasse 5 / EHL
Naschmarkt
Charming blend of downtown and gateway to the south
The Fourth District is a sought-after residential area with a distinctly middle-class flair, especially in the areas around Karlsplatz, Schwarzenbergplatz up to Belvedere palace and lower Wiedner Hauptstraße. The rather small size of the district and its dense development severely limit new construction activity in Wieden; most of the development consists of small exclusive projects, loft con- versions, and apartment building renovation. The apartment buildings in particular offer plenty of potential for preserva- tion due to the consistently solid building structure. Current developments in the district include projects such as The Fusion right next to Vienna’s Naschmarkt, The Core at Petz- valgasse 4, Ein Wiedner , Wieden 70 , and On Air at the listed ORF-Funkhaus broadcasting centre on Argentinierstraße. The Quartier Starhemberg alone is one of the larger construction projects in Wieden at around eighty residential units border- ing on the Tenth District. Above all, locations along the Vienna
Beltway have seen continuous upgrades for several years owing to development of the Hauptbahnhof main railway station and new residential quarters in neighbouring Favoriten. High-quality development projects such as Quartier Belvedere (residential and office space) and Erste Campus with The Icon Vienna (offices) as well as several hotels have triggered a radical transition in this part of the district, a transition extending into the Fourth District and its price levels. Locations adjoining the city centre such as those near Karlsplatz have always been amongst the more expensive areas in the Fourth District, although the more southern parts are slowly beginning to catch up. However, residents see prices on the housing market as absolutely justified as Wieden provides a wide range of cultural leisure activities and a lively restaurant and café scene together with excellent public transport connections, even if the number of green areas is rather sparse.
1040 wien – wieden
25
Schwarzenbergplatz
TU Karlsplatz
Karlsplatz
Schwindgasse 5 / EHL
Taubstummengasse
Palais Schönburg
Wiedner Hauptstraße
Favoriten- straße 29-31 / EHL
Südtiroler Platz
FACTS Demography
Hauptbahnhof
Sinus-Milieus ®
Residents
33,007
Upper class Traditional milieus Central milieus Modern lower class
Main residences Persons/household
17,316
1.91
Moved in Moved out
+ 5,004 - 5,083
Migration balance
- 79
Housing prices Owner-occupied First occupancy
Foreign nationals
€ 7,050/m2 € 5,250/m2
33.2% 32.2%
Vienna Wieden
Other
4.9%
> 65 years 17.6%
6.8%
0-5 years
6-14 years
Rented First occupancy
Average income (net)
11%
€ 14.80/m2 € 12.60/m2
15-24 years
€ 24,401
Vienna Wieden
Ø age 41.8 years
Other
€ 29,010
Invest. property € 4,000 to € 6,300/m2
Average age
59.7%
25-64 years
242 land registry transactions for apartments in 2022 saw purchase prices total around € 133 million.
40.7
Vienna Wieden
41.8
Catching up
Kohlgasse 47 / EHL
Film Casino / Margaretenstraße 78
Margareten developing into a trend district
Formerly a classic working-class district, Margareten is currently in transition, especially due to the metro extension and associated connection to the U2 metro line. The district is set to benefit from the extension with a metro junction at Pilgramgasse and additional stations at Reinprechtsdorfer Straße and Matzleinsdorfer Platz. These particular locations are already benefiting from the metro extension completion planned for 2028. As an example, Reinprechtsdorfer Straße is currently being redesigned as a central traffic axis and shopping high street. The ÖBB train sta- tion conversion at Matzleinsdorfer Platz saw completion last year, contributing to a significant increase in this major transport hub’s attractiveness. Residential prices reflect Margareten’s transition into a trend district. Expectations of significant upgrades to indi-
vidual locations in major parts of the district have led to acceptance of increased prices even though apartment prices in the Fifth District are currently still lower than in all other inner districts. Like Wieden, the dense development in Margareten severely limits new construction, so developers are mainly using the few areas available for smaller but all the more high-value construction projects such as Gardencourt (near Reinprechtsdorfer Straße) and at Obere Amtshausgasse 49A, Wiedner Hauptstraße 150, Vogelsanggasse 25, and Schönbrunner Straße 102. The district has rather few parks, but the special attraction comes in the form of all the many hidden courtyards in the Schlossquadrat quarter amongst other places providing culinary diversity for residents in a charming ambience between old buildings and urban hustle and bustle.
1050 wien – margareten
27
Kettenbrückengasse
Margaretenstraße 131-135 / EHL
Pilgramgasse
Margaretenplatz
Margaretengürtel
Schlossquadrat
Stolberggasse 38 / EHL
Matzleinsdorfer Platz
Siebenbrunnen- platz
FACTS Demography
Laurenzgasse 8-10 / EHL
Kohlgasse 47 / EHL
Sinus-Milieus ®
Residents
53,731 29,121
Upper class Traditional milieus Central milieus Modern lower class
Main residences Persons/household
1.85
Moved in Moved out
+ 7,547 - 8,226
Migration balance
- 679
Housing prices Owner-occupied First occupancy
Foreign nationals
€ 5,850/m2 € 4,750/m2
32.2%
Vienna Margareten
Other
4.8%
> 65 years 14.6%
6.4%
39.1%
0-5 years
6-14 years
Rented First occupancy
Average income (net)
11.7%
€ 13.10/m2 € 11.80/m2
15-24 years
€ 23,096 € 24.401
Vienna Margareten
Ø age 40.2 years
Other
Invest. property € 3,000 to € 5,500/m2
Average age
62.5%
25-64 years
498 land registry transactions for apartments in 2022 saw purchase prices total around € 141 million.
40.2 40.7
Vienna Margareten
Youthful lifestyle
RAY, Gumpendorfer Straße 60 / EHL
Raimundhof
Attractive residential location in the mecca of urban diversity
Nestled between the Naschmarkt to the south and Austria’s best-known shopping street, Mariahilfer Straße, to the north, the district of Mariahilf is considered a mecca of urban diver- sity. The district is home to all kinds of bistros, coffee bars, and trendy bakeries with French pastries and fresh sourdough bread all vying for customers. Mariahilf is an attractive part of the city featuring excellent historic buildings. There may be relatively little in the way of parks, but the district makes up for it with its pretty little alleys and passage- ways. One example is Otto-Bauer-Gasse, an ideal place to stop and meet, having undergone a redesign and facelift. Apart from the excellent infrastructure with its unique public transport con- nections featuring four metro lines in the district, the Mariahilfer Straße redesign has created a spacious venue to stop and meet,
the traffic calming built for the purpose greatly adding to living quality in the district. The Pilgramgasse metro station extension to the U2-U5 junction still under construction is also set to boost the area’s attractiveness around Wienzeile. The Sixth District is densely built up, but there are still a few high-quality new construction projects despite the predominant perimeter block development style from the Wilhelminian era. The currently low level of construction activity in Mariahilf is mostly limited to individual vacant lots, renovation projects, and loft conversions. The scarcity of new apartments and attractive locations is reflected in housing prices with high-quality devel- opment in current projects such as HAY JOE on Haydngasse and RAY on Gumpendorfer Straße.
1060 wien – mariahilf
29
RAY Gumpendorfer Straße 60 / EHL
Mariahilfer Straße
Museumsquartier
Getreidemarkt
Esterházy- gasse 28 / EHL
Neubaugasse
Kettenbrückengasse
Zieglergasse
Westbahnhof
Naschmarkt
Pilgramgasse
Mollardgasse 18 / EHL
Gumpendorfer Straße
Margaretengürtel
FACTS Demography
Mollardgasse 73 / EHL
Mollardgasse 27 / EHL
Sinus-Milieus ®
Residents
30,958 16,953
Upper class Traditional milieus Central milieus Modern lower class
Main residences Persons/household
1.83
Moved in Moved out
+ 4,786 - 5,126
Migration balance
- 340
Housing prices Owner-occupied First occupancy
Foreign nationals
€ 6,800/m2 € 5,150/m2
32.2%
Vienna Mariahilf
Other
5.5%
4.2%
> 65 years 16.4%
6-14 years 0-5 years
31.1%
11.3%
Rented First occupancy
15-24 years
Average income (net)
€ 14.50/m2 € 12.50/m2
€ 24,401
Vienna Mariahilf
Ø age 41.6 years
Other
€ 26,528
Invest. property € 4,300 to € 6,000/m2
Average age
62.6%
25-64 years
184 land registry transactions for apartments in 2022 saw purchase prices total around € 78 million.
40.7
Vienna Mariahilf
41.6
Cultural hotspot
Schottenfeldgasse 35 / EHL
Volkstheater
Between Biedermeier and alternative lifestyle
The Seventh District has a unique combination of art, culture, and cuisine with the many galleries, hip designer boutiques, and trendy restaurants lined up one next to the other. Not only the culinary offerings make a stroll through the district worthwhile; the Biedermeier buildings and many magnificent Wilhelminian-style houses typical of parts of Neubau also add to the district’s attractiveness. One of the cultural hotspots is the MuseumsQuartier with two of Vienna’s major museums, mumok and Leopold Museum. The main court surrounded by cafés is a popular year-round place to meet and hold events. The densely developed Seventh District may not be known for expansive parklands, but there are some smaller green areas such as Siebensternpark and Gutenbergpark that serve as ideal oases of peace and relaxation. The wide range of services in the district combined with excellent infrastructure make Neubau a truly popular residential area. This also comes with constantly ris-
ing housing prices and therefore also incomes amongst Neubau residents; over the years, the district has developed into one of the top residential addresses in the city. The historically most densely built-up Spittelberg location in the southern part of the district is especially expensive and sought- after. This area has not only gained a reputation for its pub scene, the Volkstheater and MuseumsQuartier are also located here. The area around Neubaugasse to become the U2-U3 junction in the next few years is also a popular residential area. The heavy demand for living space in the entire district has been difficult to satisfy in recent years due to the limited space available for new construction. Like most of Vienna’s inner districts, construction activity is limited to individual vacant lots, renovation projects, and loft conversions. The only exception in terms of project develop- ment is the area around the former Sophienspital hospital with 180 new apartments to be built on 13 hectares by 2025.
1070 wien – neubau
31
Kaiserstraße 77 / EHL
Kaiserstraße 44-46 / EHL
Thaliastraße
Das Bernard Bernardgasse 18 / EHL
Volkstheater
Museums- Quartier
Burggasse-Stadthalle
Schottenfeldgasse 35 / EHL
Neubaugasse
Zieglergasse
Neubaugasse
Westbahnhof
Seidengasse 39 / EHL
FACTS Demography
Lindengasse 60 / BUWOG
Sinus-Milieus ®
Residents
31,326 17,707
Upper class Traditional milieus Central milieus Modern lower class
Main residences Persons/household
1.77
Moved in Moved out
+ 4,303 - 4,702
Migration balance
- 399
Housing prices Owner-occupied First occupancy
Foreign nationals
€ 7,050/m2 € 5,350/m2
32.2%
Vienna Neubau
Other
4.5%
> 65 years 15.5%
5.7%
30.3%
0-5 years
6-14 years
Rented First occupancy
11.2%
Average income (net)
15-24 years
€ 14.80/m2 € 12.60/m2
€ 24,401
Vienna Neubau
Ø age 41 years
Other
€ 27,866
Invest. property € 4,000 to € 7,800/m2
Average age
63%
25-64 years
359 land registry transactions for apartments in 2022 saw purchase prices total around € 195 million.
40.7
Vienna Neubau
41
Urban elegance
Palais Strozzi
Tigergasse / BUWOG
Vienna’s smallest district has a lot to offer
Despite its size, Vienna‘s smallest district has something of a suburban feel to it with its picturesque little alleys and squares. Architecturally, Josefstadt is a definite eye-catcher with its many apartment buildings from the eighteenth and nineteenth centuries and their ornate fronts dominating the district’s aesthetic. Even so, the Eighth District is not just a pretty place, leaving little to be desired in the way of cuisine and culture. Whether it’s a down-home tavern, a classy pizzeria, or a trendy fusion restaurant, the areas around the district’s three largest streets, Lerchenfelder Straße, Josefstädter Straße and Alser Straße, in particular have been developing into an oasis of culinary delight. Josefstadt has a great deal to offer in the way of culture as well. Volkskundemuseum, or Austrian Museum of Folk Life and Folk Art, located between Josefstädter Straße and Alser Straße showcases an enthralling mix of permanent and special theme exhibitions. The district is also home to Vienna’s oldest existing theatre, Theater in der Josefstadt, established in 1788.
The extensive range of culture and cuisine and excellent infrastruc- ture in combination with a charming atmosphere make Josefstadt a very attractive residential area. The district appeals not only to older and more well-heeled residents but has also become a hot- spot for the younger generations due to its proximity to downtown and the universities. Solid public transport connections and the upcoming U2-U5 junction near the town hall add to Josefstadt’s popularity as a residential location. Prices for living space are rising continuously here; locations bordering on the First District are in especially heavy demand, fetching corresponding prices. Like the city centre and the upmarket districts of Hietzing and Döbling, the Eighth District is one of the most expensive districts in Vienna. Hardly any new living space is being created here despite the heavy demand; this is mainly due to the lack of vacant lots. Reg- ulations protecting historic housing stock also limit potential for additional living space. Any possibilities for loft conversions have already been exhausted for the most part. The few projects currently in development include Albertgasse 30, St.-Georgs-Hof, and Green Oasis on Lerchenfelder Straße.
1080 wien – josefstadt
33
Laudongasse
Breitenfeld
Josefstädter Straße
Schönbornpark
Rathaus
Theater in der Josefstadt
Josefstädter Straße
Tigergasse 23-27 / BUWOG
FACTS Demography
Sinus-Milieus ®
Residents
24,189 13,051
Upper class Traditional milieus Central milieus Modern lower class
Main residences Persons/household
1.85
Moved in Moved out
+ 4,913 - 5,070
Migration balance
- 157
Housing prices Owner-occupied First occupancy
Foreign nationals
€ 7,700/m2 € 5,600/m2
32.2%
Vienna Josefstadt
Other
4.1%
> 65 years 17.1%
6%
30.7%
0-5 years
6-14 years
Rented First occupancy
12.8%
Average income (net)
15-24 years
€ 15.00/m2 € 12.90/m2
€ 24,401
Vienna Josefstadt
Ø age 41.5 years
Other
€ 28,488
Invest. property
€ 4,100 to € 7,000/m2
Average age
60%
25-64 years
165 land registry transactions for apartments in 2022 saw purchase prices total around € 89 million.
40.7
Vienna Josefstadt
41.5
Multifaceted living environment
Liechtensteinpark
Widerhofergasse 8 / EHL
Between upper-class ambience and new development
Alsergrund is not only highly sought-after as a residential area; the district is also an extremely attractive place for leisure activities. The district is popular amongst residents and visitors alike. This is where the weight of history meets the charm of university life. The University of Vienna has many institutes in the district and there is a wide variety of cafés and culinary highlights located here, too. This has led to youthful student quarters developing such as those around Friedensbrücke and Spittelau in addition to the traditional upper-class areas. The many recreation areas such as the Votivpark adjoining the First District, the campus in the old Vienna General Hospital grounds bordering on the Eighth District, the banks of Donaukanal, and the picturesque Liechtensteinpark are ideal for sports and relaxation. All these opportunities make Alsergrund a trendy, sought-after residential area. Apart from that, public transport connections in the district are set to see further improvement
in the coming years with the new U5 metro line plan including Arne-Karlsson-Park and Frankhplatz stations. There are plenty of art and culture attractions dotted around throughout the district. The Volksoper opera house, Theater am Alsergrund, and Schubert Theater can be found next to alternative institutions such as the WUK cultural centre and Sigmund-Freud-Museum. Most of the district’s residential stock consists of existing apart- ments and old buildings with new construction projects and full renovations sprinkled in. Two examples of ongoing projects include La Nouvelle Maison near the Votivkirche church as well as Währinger Straße 41 somewhat further towards Nußdorfer Straße. Located between the former University of Economics and Franz-Josefs-Bahnhof railway station, Althangrund is currently the largest development area in the district. Althan Quartier is current- ly in an expansion phase, and the general station building is also undergoing modernisation.
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