Executive Summary
Demand remains stable. This steady momentum underscores the strong resilience of Vienna’s office property market.
Vienna office market 2022-2026
300,000 m 2
7 %
225,000 m 2
6 %
230,000
200,000*
Due to the higher volume of new space in the previous year, which the market could not immediately absorb, the vacancy rate is rising short-term to 3.8%. Ho- wever, since completion output will be significantly lower in the current year, a declining vacancy rate can be expected again in the foreseeable future. New space production & vacancies
150,000 m 2
5 %
180,000
180,000
165,000
132,000
126,000
75,000 m 2
4 %
90,700
3.8%*
65,800*
45,800
0
3 %
Take-up Last year – contrary to many expectations – a gratifyingly high take-up of 230,000 m² of office space was achieved. Demand current- ly presents itself as stable at a good level, and several well-known tenants are current- ly in advanced lease negotiations.
2022
2023
2024
2025
2026*
Slight increase in rental prices Rental prices continue to follow an upward trend. Demand overhang at prime locations, persistently high construction and financing costs, and the renewed increase in inflation represent the main drivers. Prime rents are rising slightly and currently add up to EUR 29.50/m².
New space production in m²
Take-up in m²
Vacancy rate
*Forecast, Source: EHL Market Research | Q1 2026
Market overview
New space production
65,800 m 2
Office Properties
Total Market**
VRF***
The real estate investment market fundamentally got off to a good start in 2026 under favora- ble conditions: inflation fell to around 2%, the Austrian economy emerged from recession and showed initial signs of recovery, albeit still with modest growth. The wave of insolvencies also appeared to have already passed its peak. However, with the onset of the conflict in the Near East, uncertainty returned to the market all at once, and decisions are once again being par- tially postponed. New realities have been created, particularly for cross-border transactions and for engaging new investors from outside Europe. Investment
Take-up*
200,000 m 2
Office space
11,775,500 m 2
5,947,135 m 2
Vacancy rate
3.8 %
Vacancy rate
3.8 %
4.37 %
Prime yield
5.0 %
*
Forecast
**
All indicators are based on the total supply (old and new buildings), unless indicated otherwise
Prime rents EUR/m 2 /month
29.50 €
*** According to the Vienna Research Forum www.viennaresearchforum.at
Rising
Slightly rising
Stable
Slightly declining
Declining
Source: EHL Market Research | Q1 2026
04
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