First Vienna Residential Market Report 2023

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,

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