First Vienna Residential Market Report 2023

Diefenbachgasse 7-9 / EHL

Multi- cultural human environment

Auer-Welsbach-Park

Hotspot outside the Vienna Beltway

To the west from downtown, Rudolfsheim-Fünfhaus has a lot in common with the central districts despite its location outside the Vienna Beltway, which by definition places it in the suburbs. Apart from the small area and high population density, the district is also close to the city centre and has transport connections that are unique for a suburb. Three metro lines – U3, U4, and U6 – and regional and long-distance train services place downtown Vienna and the outskirts virtually at the front door. The Fifteenth District has been a youthful and multicultural place of transition for some time. This residential district was still not especially popular a few years ago, but the changes can be felt by the improvements to the urban landscape already completed and planned for the future. Examples include the revitalised Westbahnhof railway station with its diverse shops and broad range of eateries. The outer Mariahilfer Straße is also under continuous development. Increasing numbers of hip coffee shops and pop-up stores have found a place alongside the inter- national supermarkets and takeaways. Another positive sign

was the opening of the first city IKEA in autumn 2021, especially reflecting transition and innovation in the district.

As we have always said in the real estate industry, a residential location near markets, on the water, or in green areas will always increase in value. Most of the Fifteenth District is up to it, too. One of the oldest markets in Vienna still in existence, the now revitalised Schwendermarkt, is located in the district. Rudolfs- heim-Fünfhaus also has its fair share of green areas with the Auer-Welsbach-Park and Märzpark providing plenty of space for leisure and relaxation. Positive changes in the district together with comparatively affordable housing prices will ensure the increasing popularity of Rudolfsheim-Fünfhaus as a residential district. Construction ac- tivities currently include gradual renovation and expansion on the many now rather aged apartment buildings. There are also great new construction projects and loft conversions, for instance on Wienzeile, around Johnstraße, near the Vienna Beltway, and across from Längenfeldgasse, reshaping the district’s image.

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