First Vienna Residential Market Report 2023

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.

Powered by