First Vienna Residential Market Report 2023

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.

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