First Vienna Residential Market Report 2023

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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