First Vienna Residential Market Report 2023

Multi- faceted and suburban

Lorenz-Mandl-Gasse 19-21 / EHL

Schloss Wilhelminenberg

From the Vienna Beltway to Ottakringer brewery to Wilhelminenberg

Ottakring is a melting pot of cultures as reflected in its diverse population. The district stretches from the Vienna Woods in the west to the Vienna Beltway in the east and has more to offer than you might find in many a small town. The famous Brunnenmarkt market – the longest, permanent street market in Europe – is one example, providing a small culinary trip around the world in addition to fresh fruit and vegetables. The market has bread from Afghanistan alongside Turkish cheese, oriental sweets, and jams and preserves from a well-known tradi- tional Austrian family business. Yppenplatz is lined with hip bars and cafés attracting a more alternative crowd while Ottakringer Straße has gained a reputation for its party scene, not least due to the brewery located there. Ottakring is evolving, and not only the streetscape: a greening offensive has been running a renovation campaign for the high streets, with tree planting and seating set to boost the district’s attractiveness even further. The Vienna Woods on the western edge of Ottakring offer plenty of lush greenery, hiking trails, and a panoramic view over the city from 449 metres up on Wilhelminenberg, the district’s ”local hill“.

Residential areas and housing prices in the Sixteenth District can also be described as diverse. Prices per square metre around Ottakringer Straße are still relatively moderate whereas real estate prices on Wilhelminenberg range from above average to exorbitant. In any case, the housing market in the district has been moving in a positive direction throughout with most of the new construction projects near the U3 metro line. Projects also include revitalising older buildings as well as loft conversions. Several new projects are emerging, or have been completed, on Römergasse; the area between Thaliastraße and Ottakringer Straße is also seeing increased construction activity. The western outskirts of Ottakring are also home to a selection of highly exclusive high-quality projects. Wilhelminenberg is one of the most sought-after locations in Vienna with its cottage-like villas, abundance of green space, and a great view of Vienna. This is where mostly smaller buildings containing only a few residential units are currently under development.

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