First Vienna Residential Market Report | 2020

FIRST VIENNA RESIDENTIAL MARKET REPORT

EDITION 2020

EDITORIAL DEAR READER,

the future, and where do we start in tackling the land shortages and rising construction costs? These are just some of the questions facing us; additional factors that need to be considered include sustainability, digitisation, and cross-generational living. Building residential high-rises is one possible option, but it will not solve all of the city’s residential issues. We will explore this topic in more detail on pages 13 and 14 of this publication.

we are proud to present the First Vienna Residential Market Report, the eighth edition of our joint publication.

THE RESIDENTIAL MARKET in Vienna is markedly different from that of many other cities, which is partly due to the numerous hous- ing subsidy programmes and therefore also largely affordable housing. VIENNA IS ALSO a step ahead in terms of living quality, earning it the title of world’s most liveable city for the tenth year in a row according to the Mercer Study. The British Economist ranking confirmed this in 2019 as well as in 2018. THE AUSTRIAN CAPITAL FACES a series of challenges in the resi- dential market despite, or even because of, the city’s great popularity. For example, the population has been growing more slowly than in previous years, but this growth has been continuous and is set to rise to around two million by the year 2027. WE AT BUWOG AND EHL IMMOBILIEN deal with the opportunities, risks and trends that impact the Viennese residential market on a daily basis: what needs and requirements will dominate residential space in

“We deal with the opportunities, risks and trends that impact the Viennese residential market on a daily basis.”

OUR MAIN AIM at BUWOG as Vienna’s largest private housing asso- ciation and EHL Immobilien as a leading real-estate service company is to share our experience and expertise in this report. We have written it to provide a more in-depth, comprehensive view of the developments, prospects, and peculiarities of the Viennese residential market while of- fering help in finding accommodation.

WE WISH YOU an enjoyable browse through the First Vienna Residen- tial Market Report for 2020. ×

YOURS SINCERELY

Andreas Holler, BSc Managing Director, BUWOG Group GmbH

Mag. Michael Ehlmaier FRICS Managing partner, EHL Immobilien GmbH

Mag. Daniel Riedl FRICS Member of the Management Board, Vonovia SE

DI Sandra Bauernfeind FRICS Managing partner, EHL Wohnen GmbH

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

INTRODUCTION

TABLE OF CONTENTS

36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 66 67 68 69 70 71 72 73 74 75

1090 VIENNA · ALSERGRUND 1100 VIENNA · FAVORITEN 1110 VIENNA · SIMMERING 1120 VIENNA · MEIDLING 1130 VIENNA · HIETZING 1140 VIENNA · PENZING 1150 VIENNA · RUDOLFSHEIM-FÜNFHAUS

EDITORIAL

INTRODUCTION TABLE OF CONTENTS OUR MOTIVATION BUWOG GROUP GMBH EHL IMMOBILIEN GROUP

02 03 04 05

1160 VIENNA · OTTAKRING 1170 VIENNA · HERNALS 1180 VIENNA · WÄHRING 1190 VIENNA · DÖBLING 1200 VIENNA · BRIGITTENAU 1210 VIENNA · FLORIDSDORF 1220 VIENNA · DONAUSTADT 1230 VIENNA · LIESING PROJECTS BUWOG & EHL IMMOBILIEN MARINA TOWER / BUWOG KENNEDY GARDEN / BUWOG GRÜNSTÜCK22 / BUWOG

HOUSING MARKET OWNERSHIP STRUCTURE IN 2019 DEMOGRAPHICS OF AUSTRIA HOUSEHOLDS IN AUSTRIA DEMOGRAPHICS OF VIENNA HOUSEHOLDS IN VIENNA

06 08 09 10 11

12 13 14 16

FACTS FIGURES TRENDING TOPIC: RESIDENTIAL HIGH-RISES THE SINUS-MILIEUS ®

THE MARKS –TURM 3 / BUWOG GRINZINGER ALLEE / BUWOG WILDGARTEN / EHL IMMOBILIEN AN DER LÄNDE / EHL IMMOBILIEN LUXURY SUITES / EHL IMMOBILIEN IU– IDYLLISCH_URBAN / EHL IMMOBILIEN DIE GARTENRESIDENZ / EHL IMMOBILIEN

DISTRICTS OF VIENNA VIENNA AT A GLANCE

18 20 22 24 26 28 30 32 34

1010 VIENNA · INNERE STADT 1020 VIENNA · LEOPOLDSTADT 1030 VIENNA · LANDSTRASSE 1040 VIENNA · WIEDEN 1050 VIENNA · MARGARETEN 1060 VIENNA · MARIAHILF 1070 VIENNA · NEUBAU 1080 VIENNA · JOSEFSTADT

76 78 80

CLOSING WORDS GLOSSARY IMPRINT

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

INTRODUCTION

OUR MOTI VATION

BUWOG AND EHL share comprehensive know-how and experience in the property business from their long-standing presence in the real- estate market. This eighth edition of the First Vienna Residential Market Report combines the extensive expert knowledge of the two companies.

WHAT MAKES the First Vienna Residential Market Report unique: we only include final prices – purchase prices or rental prices actually achieved – rather than offer prices. THIS INCREASES the First Vienna Residential Market Report’s rele- vance while also ensuring its place as one of a kind compared to many other market reports and studies. ALL INFORMATION USED corresponds to the current state of aware- ness and the latest data. The statistical information that the report draws on comes from Statistics Austria (the state statistics office) and the City of Vienna (MA 23 – Economics, Labour and Statistics). ×

OUR SERVICE FOR READERS: →→ A complete overview of developments on the Viennese residential market →→ Important facts and figures →→ Property trends →→ Comparative figures for Vienna and its

individual districts in the new updated edition

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

INTRODUCTION

BUWOG Group GmbH

BUWOG GROUP GMBH

BUWOG GROUP GMBH IS THE LEADING full-service company in the Austrian residential market. The company aims towards creating living satisfaction by gathering all our expertise and experience of more than sixty-nine years in developing and managing our projects.

BUWOG GROUP GMBH CURRENTLY HAS MORE than 22,500 units in Austria and around 6,000 residential units in the development pipeline focused on the Austrian capital, Vienna. AWARDS IN PROJECT DEVELOPMENT and sustainability have confirmed the company’s success in its activities on the property market, serving as a visible testament to the expertise, commitment, and profes- sionalism of our staff of around 370. SINCE JANUARY 2019 , the BUWOG Group GmbH has been a wholly owned subsidiary of Europe’s leading residential housing company, Vonovia SE, which is based in Bochum, Germany. ×

BUWOG WORKS FROM a solid basis rich in know-how across the complete range of development and living.

WE COVER the entire value chain in the housing sector in Austria in our business divisions of asset management, apartment sales, and pro- ject development using the synergistic effects of all these areas to meet the highest expectations on quality from our customers.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

EHL Immobilien Group

EHL IMMOBILIEN GROUP EHL WOHNEN GMBH is part of the EHL Immobilien Group and one of the leading estate agents in Greater Vienna. Apart from arranging rented, oc- cupier-owned and investment contracts as well as brokering land and houses, the company operates in property development consulting for developers with advice on optimised market-oriented design and marketing for their projects.

SIX EHL EXECUTIVES have been awarded a total of ten CÄSAR awards for outstanding achievement in the property business. Apart from that, EHL has received the IMMY award as the best estate agent nine times over. Our customers benefit from a complete range of real-estate services across the world as well as our own local experts thanks to our partnership with BNP Paribas Real Estate. IN 2019, EHL ARRANGED 1,300 residential unit deals (rental, prop- erty, investment) and 42,000 square metres of office space, command- ing a total transaction volume of 1.16 billion euros. The annual volume from the fast-growing property valuation segment amounts to around 12.1 billion euros. Apart from that, EHL manages properties in a variety of asset classes at a total of around two million square metres. ×

EHL IMMOBILIEN was founded in 1991, and is one of Austria’s leading residential property service suppliers specialising in residential, commer- cial, and investment properties. Our range of services extends from es- tate agent services and property valuation to property and construction administration; asset, centre and portfolio management; market research and investment consulting. Several awards stand witness to our responsi- ble approach in how we do business with customers and partners.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

HOUSING MARKET

OWNERSHIP STRUCTURE IN 2019

AROUND 931,000 APARTMENTS IN VIENNA count as inhabited, with around 76 percent of households living in rented accommoda- tion – an extraordinary housing market compared to the other eight Austrian federal states. Of these 710,400 or so rented apartments, around 409,600 are owned by the City of Vienna or non-profit housing associations.

PEOPLE LIVING IN owner-occupied apartments occupy a roughly equal share in Vienna and Austria; this share is rather low compared to other forms of housing, while still remaining largely stable. Naturally, most Austrians prefer to live in single-family homes, and this is the main household form across the country – as opposed to Vienna, where this share of households is very low. ×

HOUSING STOCK 2019

VIENNA

AUSTRIA

approx. 931,000*

approx. 3,947,000 *

TOTAL PRIMARY RESIDENCES

ABSOLUTE FIGURES

OWNERSHIP

68,000 124,700 710,400 307,200 214,100 195,500 27,900

1,673,200 430,100 1,657,700 710,500 315,800 631,500 186,000

HOUSE OWNER-OCCUPIERS

APARTMENT OWNER-OCCUPIERS

MAIN TENANTS (COLLECTIVE)

PRIVATE INDIVIDUALS AND LEGAL ENTITIES

PUBLIC CORPORATIONS

NOT-FOR-PROFIT HOUSING COOPERATIVES

SUBLEASES AND OTHER LEASE ARRANGEMENTS

* Source: Statistics Austria, own calculations. A household equals one apartment.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

HOUSING MARKET

AS AT JANUARY 1, 2019, AUSTRIA WAS home to 8,858,775 people, of whom 5,472,520 were between 20 and 64 years old. At the start of 2019, the average age of the people living in Austria was 42.8 years. According to the latest forecasts, the population of Austria is expected to reach the nine million mark only in 2023. × DEMOGRAPHICS OF AUSTRIA

DEMOGRAPHIC OUTLOOK FOR AUSTRIA

AGE PROFILE OF POPULATION AS AT JANUARY 1, 2019

2019 TO 2070

8,858,775

9,793,189

Population

10,000,000

1,717,696

0–19 YEARS

8,000,000

1,668,559

> 65 YEARS

6,000,000

4,000,000

5,472,520

20–64 YEARS

2,000,000

Year

2000

2010

2030

2040

2050

2060

2019

2070

FORECAST

→→ Nine million people will be living in Austria by 2023. →→ By 2070, the population of Austria is expected to rise to 9,793,189 people. →→ This corresponds to an increase by nearly 11% from 2019 to 2070.

→→ By 2070, around 28.9% of the population will be 65 years or over, up from 18.9% in 2019. →→ The number of people living in Austria below the age of 20 will continue to drop gradually, from 19.4% in 2019 to 18.7% by 2070.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

THE AVERAGE HOUSEHOLD SIZE of the 3,947,204 private households in Austria was 2.22 people in 2019. The trend towards small households continues. In 1984, the average household size was 2.70, while experts predict that this figure will drop to 2.09 by 2080. × HOUSEHOLDS IN AUSTRIA

PRIVATE HOUSEHOLDS FORECAST FOR SINGLE AND MULTIPLE-PERSON HOUSEHOLDS IN AUSTRIA

2019 TO 2080

Households

3,000,000

2,692,921

2,453,843

2,500,000

1,967,102

2,000,000

1,493,361

1,500,000

1,000,000

500,000

SINGLE-PERSON HOUSEHOLDS MULTIPLE-PERSON HOUSEHOLDS

Year

2019

2080

FORECAST

→→ The number of single-person households is still growing. →→ Between 2019 and 2080, single-person households are set to increase by 31.7% out of the total number of households in the respective year (from 1,493,361 to 1,967,102). →→ Between 2019 and 2080, multiple-person households are set to increase by only 9.7% out of the total number of households in the respective year (from 2,453,843 to 2,692,921). →→ From 2019 to 2080, the total number of private households is expected to rise by 18.06% (from 3,947,204 to 4,660,023). →→ The predicted average household size for 2080 is around 2.09 persons.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

HOUSING MARKET

DEMOGRAPHICS OF V IENNA

AS AT JANUARY 1, 2019, the population of vienna was 1,897,491. Of these, 312,445 people were older than 65, and 366,693 were younger than 20 years of age. On January 1, 2019, the average age in Vienna was 40.4 years (41.7 for women and 39.0 for men). Current forecasts predict that the population of the capital will only hit the two million mark in 2027. ×

AGE PROFILE OF POPULATION AS AT JANUARY 1, 2019

DEMOGRAPHIC OUTLOOK FOR VIENNA

2019 TO 2070

1,897,491

2,239,762

Population

366,693

0–19 YEARS

2,000,000

312,445

> 65 YEARS

1,750,000

1,218,353

20–64 YEARS

1,500,000

Year

1,250,000

1985

1995

2005

2030

2040

2050

2060

2019

2070

FORECAST

→→ Only by 2027, Vienna will have a population of more than two million. →→ By 2070, the population of the city is expected to reach 2,239,762. →→ This corresponds to an increase of 18% from 2019 to 2070. →→ By 2070, around 23.9% of the city's population will be 65 years or over, up from 16.5%. →→ The number of people in Vienna below the age of 20 will decrease from 19.4% today to 19.2% by 2070.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

HOUSEHOLDS IN V IENNA

VIENNA HAD AROUND 930,979 households with an average household size of just 2.04 persons in 2019. The households in Vienna account for just below a quarter of all households in Austria. ×

PRIVATE HOUSEHOLDS FORECAST FOR SINGLE AND MULTIPLE-PERSON HOUSEHOLDS IN VIENNA 2019 TO 2080

Households

595,160

600,000

549,799

508,603

500,000

422,376

400,000

300,000

200,000

100,000

SINGLE-PERSON HOUSEHOLDS MULTIPLE-PERSON HOUSEHOLDS

Year

2019

2080

FORECAST

→→ Between 2019 and 2080, single-person households in Vienna are set to increase by more than 30.17% out of the total number of households in the respective year (from 422,376 to 549,799). →→ Between 2019 and 2080, multiple-person households in Vienna are set to increase by more than 17% out of the total number of households in the respective year (from 508,603 to 595,160). →→ From 2019 to 2080, the number of private households will increase by more than 22.9% (from 930,979 to 1,144,959). →→ It is expected that there will be more than one million households in Vienna by 2035. →→ The predicted average household size for 2080 is 2.02 persons.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

USEFUL FACTS ABOUT V IENNA

FACTS

THIS PAGE PROVIDES YOU WITH INTERESTING DETAILS on the Austrian capital – all at one glance. ×

USABLE LIVING AREA * VIENNA: 38m 2 PER RESIDENT

NUMBER OF BUILDINGS OVER TIME **

Lowest living area: Favoriten: 31 m² per resident

Highest living area: Innere Stadt: 65 m² per resident

UP TO 39 m 2 40 TO 49 m 2 > 50 m 2

1951

1961

1971

1981

1991

2001

2011

2019

POPULATION DENSITY ** VIENNA: 45.7 PERSONS PER HECTARE

PUBLIC TRANSPORT ***

LENGTH OF LINES LINES

PASSEN- GERS

Lowest density: Hietzing 14.3 persons per hectare

Highest density: Margareten 275.4 persons per hectare

METRO SERVICES 463.1 Mio.

83.0 km 5

UP TO 100 101 TO 200 201 AND MORE

TRAMS

305.8 Mio. 220.5 km 28

BUSES

197.3 Mio. 649.2 km 129

TOTAL

966.2 Mio. 952.7 km 162

GREEN SPACE IN PERCENT *** VIENNA: 47.1% (OUT OF TOTAL AREA)

STREETS IN VIENNA ***

17.0 m

SHORTEST STREET: IRISGASSE

14.8 km

LONGEST STREET: HÖHENSTRASSE

Highest percentage of green space: Hietzing: 70.6%

Lowest percentage of green space: Josefstadt: 1.9%

2,784 km

TOTAL LENGTH OF STREETS

UP TO 25% 26 TO 50% > 51%

6,906

NUMBER OF ROADWAYS

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

21.

19. V IENNA RISING! THE VIENNESE BUILDING CODE defines buildings taller than thirty-five metres as high-rise buildings. Vienna has already exceeded this size limitation by far, following international trends. The coming years will continue to see many high-rise buildings rise into the sky, making lasting changes to the cityscape. ×

FIGURES

RESIDENTIAL HIGH-RISES * IN VIENNA

18.

20.

17.

Residential high-rise

District Altitude in m Status

1. 2. 3. 4. 5.

DC Tower 2 Danube Flats

22 22 22

approx. 175m in planning approx. 160m in planning

Neue Donau high-rise

150m

completed

MARINA TOWER

2 3

approx. 138m under construction

16.

MGC Plaza "The Marks" (3 residential high-rises)

100–121.5m (105–126m)

under construction

21.

TRIIIPLE 1 TRIIIPLE 2 TRIIIPLE 3

3 3 3

116m 107m 120m 110m 110m

under construction under construction under construction

10 14

19.

15 1.

Mischek Tower

22 10 22 21 10

17. completed completed completed completed

8. 9.

Hoch 33

18. 6. 7.

V22

approx. 110m in planning

20.

10. 11. 12. 13. 14. 15. 16. 17. 18. 19.

Citygate Living Tower Delugan-Meissl-Tower High-rise at Viertel Zwei

100m

14.

99m 90m

16.

kick-off in 2020

"Grünblick"

1. 4.

22.

15.

Alterlaa residential park

23 21

85.1m

completed completed

6. 7.

Leopoldtower

85m

6 6 6

15. 5.

Höchstädtplatz residential high-rise Mischek-Coop-Tower SEG Apartment Tower

20 10 22 22

83.5m

completed completed completed completed

83m 82m 80m

13.

12.

11 20

Obelixturm

Residential high-rises in the Nordbahn quarter

approx. 60–80m

11.

in planning

21.

10.

20.

Monte Verde residential high-rise

10 14

23. completed

77m

19.

18. 11.

UNDER CONSTRUCTION IN PLANNING 17. 18. 17. 20.

20.

COMPLETED

9. 16.

14.

16.

RESIDENTIAL HIGH-RISES * IN INTERNATIONAL COMPARISON **

10.

6. 7.

6 6 6

23.

5 15.

15.

13.

12.

11 20

11.

10.

23.

Central Park Tower NYC, USA

111 West 57th Street NYC, USA

432 Park Avenue NYC, USA

Princess Tower Dubai, UAE

23 Marina Dubai, UAE

Elite Residence Dubai, UAE

Marina Torch Dubai, UAE

DAMC Heights Dubai, UAE

Q1 Gold Coast, Australia

HHHR Tower Dubai, UAE

Ocean Heights Dubai, UAE

Burj Rafal Riad, Saudi Arabia

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

TRENDING TOPIC

RESIDENTIAL HIGH-RISES

THEY ARE NOW PRESENT IN MANY PARTS of Vienna: high- rise buildings soaring above the roofs of the city. Floridsdorf, Donaustadt, parts of Favoriten – the Austrian capital’s skyline would be hard to imagine without the DC Tower, Millennium Tower, or Twin Tower. High-rise build- ings may have been used only as office towers for a long time, but the city of Vienna and residential property developers have realised that this form of architecture provides a host of benefits. VIENNA IS SET TO BREAK the two-million population threshold in 2027 as housing and areas for development become increasingly scarce. This meant that it was high time for developers to take a closer look at residential high-rises and start building upwards, causing population den- sification. “High-rise buildings may have been used only as office towers for a long time, but the city of Vienna and residential property developers have realised that this form of architecture provides a host of benefits.” PROJECTS SUCH AS THE "MARINA TOWER", "TRIIIPLE", and "The Marks" are currently under construction, showcasing Vienna’s future hu- man habitat. From subsidised rent to exclusive properties, Vienna caters to a wide demographic in residential high-rises under development. This generates new prospects for future residents with the panoramic views many of these high-rises have over the city creating an entirely new living atmosphere.

THE UPPER FLOORS in these residential high-rises in particular set the apartments apart from the urban bustle while also creating a sensation of being in the midst of it. Residential high-rises also provide that feeling of anonymity contrasting with the sensation of being part of a greater whole. The many common areas in the buildings contribute to that. Apart from classical children’s playrooms, projects with several hundred resi- dential units that are so typical of residential high-rises also include shared kitchens, lobbies, and shared terraces.

“The upper floors in these residential high-rises set the apartments apart from the urban bustle while also creating a sensation of being in the midst of it.”

RESIDENTIAL HIGH-RISES also benefit from convenient infra- structure: residents find everything they could possibly need from local suppliers and other everyday services to pharmacies, day-care centres, and schools to local pubs and restaurants right next door. These areas generally have good transport links: all of Vienna’s (future) residential high-rises have a metro station nearby, such as the U3 from "The Marks" or U2 from "Marina Tower", and are never far from a motorway ensuring fast and easy access for motorists. THE CHARM OF A TOWNHOUSE FLAT in the heart of Vienna cannot compare with that of a residential tower, of course. Even so, the "upward" trend is unstoppable, and will soon be regarded as the state- of-the-art way of living. ×

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

SINUS- MILIEUS ® THE SINUS- MILIEUS ®

WHO LI VES HOW

THE FOLLOWING PAGES GIVE A SUMMARY OF SINUS-MILIEUS ® . Sinus-Milieus ® constitute a model that groups people according to their basic attitudes and lifestyles. Sinus-Milieu groups differ with regard to their consumer behaviour, lifestyle, and living environment. Further details on Sinus-Milieus ® are given on page 78. ×

TRADITIONAL MILIEUS

TRADITIONALS. Emphasis on security, order, and stability – rooted in the old petty-bourgeois world, in the traditional blue-collar culture, or in the rural milieu. Home tastes are based on traditional cosiness and rural aesthetics.

CONSERVATIVES. Trendsetters in the traditional sphere with high ethics of responsibility – strongly characterised by Christian ethics, high estimation of arts and culture, sceptical towards current soc ial development. Home is an expression of upper or middle-class lifestyle in clear distinction from current attitudes.

CENTRAL MILIEUS

ADAPTIVE-PRAGMATISTS. The young pragmatist middle stratum – pronounced life-pragmatism, strong desire for anchorage, membership, security, performance orientation, but also the wish for fun and entertainment. The prevailing lifestyle is either trendy or quiet and down-to-earth.

THE NEW MIDDLE CLASS. The adaptive mainstream – seeking professional and social establishment, secure and harmonic circumstances, support and orientation, peace and a slow pace. They prefer interiors with neo-rustic, conventional aesthetics.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

UPPER CLASS

POSTMATERIALISTS. Open-minded social critics – intellectual, educated milieu, interested in variegated aspects of culture; cos- mopolitan orientation, but critical towards globalisation; socially committed. Home styles are dominated by a sense of nature and authenticity; distinction from the mainstream plays a crucial role.

ESTABLISHED. The performance-oriented elite with a strong anchorage in tradition – strongly focused on status, exclusiveness, responsibility, and leadership. The apartments are often a stylishly harmonious combination of traditional and modern.

DIGITAL INDIVIDUALISTS. The individualistic, networking, digital avant-garde –mentally and geographically mobile, cross-linked online and offline, permanently looking for new experiences. The home is creatively designed with deliberately unconventional highlights.

HIGH ACHIEVERS. The flexible and globally oriented performance elite – individual performance, efficiency, and success take top priority; competent in business and IT. High achievers appreciate open, generously dimensioned interior designs that focus on presentation.

THE MODERN LOWER CLASS

ESCAPISTS. The modern lower middle class, living for the excitement of the moment – seeking fun and amusement; rejection of traditional standards and conventions. The aesthetic of heavy stimuli dominates with a zest for provocation and challenging taboos.

CONSUMPTION ORIENTED. The materialistic lower class striving for participation – sense of discrimination, resentments, and pronounced fears of the future; striving to stay connected with the consumption standards of the middle class. An attempt is made to present an intact and bourgeois living environment.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

DISTRICTS OF VIENNA

V IENNA AT A GLANCE THE MAP OF VIENNA provides an overview of the city districts. For better orientation, the map also shows underground metro lines and major roads/motorways. Metro lines that are planned or currently under construction are shown as broken lines. ×

PLANNED EXTENSION OF U2 METRO LINE PLANNED EXTENSION OF U5 METRO LINE CURRENT ROUTE OF U2 METRO LINE, TO BECOME U5 METRO LINE

21.

A22

U Leopoldau

19.

U Floridsdorf

U Heiligenstadt

20.

18.

U Spittelau

17.

14.

U Seestadt

16.

U Elterleinplatz * U Ottakring

22.

U Stephansplatz

6. 7.

U Karlsplatz

U Westbahnhof

U Hütteldorf

15.

13.

12.

U Simmering

U Wienerberg *

11.

10.

23.

U Oberlaa

A23

U Siebenhirten

VIENNA AIRPORT

* in planning

A21

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

THE TABLE CONTAINS all key data and facts regarding population, income, property prices, and rental prices. The quoted prices are not asking or advertised prices but the prices per square metre that were actually paid upon signing of the contract.

SALES PRICES are represented as purchase prices per square metre of net living area, excluding parking and incidental costs. The section below provides more detailed information on the individual districts, including key demographic data, statistics, and special features within the districts. ×

SALE PRICES ON CONCLUSION

RENTAL PRICES ON CONCLUSION

DISTRICTS

RESIDENTS INCOME *

FIRST OCCUPANCY** n/a *** € 5,400 € 5,600 € 5,700 € 5,200 € 5,500 € 6,000 € 6,500 € 6,100 € 4,500 € 4,000 € 4,500 € 6,100 € 4,700 € 4,400 € 4,500 € 4,250 € 5,900 € 6,500 € 4,300 € 4,250 € 4,400 € 4,100

FIRST OCCUPANCY**

OTHER

16,306 104,946 91,745 33,263 55,407 31,864 32,288 25,466 41,958 204,142 103,008 97,634 53,778 92,990 77 ,621 103,785 57 ,292 51,587 72,947 86,502 165,673 191,008 106,281

€ 26,480 € 22,904 € 24,172 € 25,878 € 20,479 € 23,971 € 25,100 € 25,142 € 24,701 € 19,478 € 21,606 € 20,537 € 29,575 € 23,755 € 18,528 € 21,168 € 22,386 € 26,770 € 28,004 € 18 ,674 € 23,220 € 25,323 € 26,063

n/a *** € 4,000 € 4,100 € 4,200 € 3,900 € 4,100 € 4,500 € 4,700 € 4,400 € 2,900 € 2,600 € 3,100 € 4,300 € 3,200 € 3,000 € 3,000 € 3,000 € 4,000 € 4,400 € 2,900 € 2,900 € 2,900 € 3,000

n/a *** € 12 . 50 € 12.70 € 13.20 € 12.00 € 13.10 € 13.10 € 13.20 € 13.10 € 11.20 € 10.50 € 11.50 € 13.00 € 11.70 € 11.50 € 11.40 € 11.30 € 12.60 € 13.00 € 11.50 € 11.10 € 11.40 € 10.60

n/a *** € 10.50 € 11.00 € 11.20 € 10.70 € 11.10 € 11.10 € 11.40 € 11.20 € 9.40 € 9.20 € 10.20 € 11.30 € 10.50 € 10.30 € 10.40 € 10.20 € 10.80 € 10.90 € 10.40 € 10.20 € 10.20 € 10.00

1010 VIENNA · INNERE STADT

1020 VIENNA · LEOPOLDSTADT

1030 VIENNA · LANDSTRASSE

1040 VIENNA · WIEDEN

1050 VIENNA · MARGARETEN

1060 VIENNA · MARIAHILF

1070 VIENNA · NEUBAU

1080 VIENNA · JOSEFSTADT

1090 VIENNA · ALSERGRUND

1100 VIENNA · FAVORITEN

1110 VIENNA · SIMMERING

1120 VIENNA · MEIDLING

1130 VIENNA · HIETZING

1140 VIENNA · PENZING

1150 VIENNA · RUDOLFSHEIM

1160 VIENNA · OTTAKRING

1170 VIENNA · HERNALS

1180 VIENNA · WÄHRING

1190 VIENNA · DÖBLING

1200 VIENNA · BRIGITTENAU

1210 VIENNA · FLORIDSDORF

1220 VIENNA · DONAUSTADT

1230 VIENNA · LIESING

* Source: Statistics Austria, wage tax statistics for 2018, average annual net income for employees in total, in euros, valid as at December 2019 ** Weighted average price *** The report assumes residential rents that are not subject to the full scope of the Austrian Tenancy Act. The sample from the First District was too small to deliver any valid information, and has been omitted in the rent levels statistic.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

1010 INNERE STADT

V IENNA’S NUMBER ONE ADDRESS

V IENNA’S FIRST DISTRICT is undergoing a residential de- velopment boom the likes of which it has not seen for years. Experience from recent years has shown that luxury is not a question of size with demand for one and two-bedroom apartments rap- idly growing.

PRESTIGIOUS PROJECTS are currently under construction around the City Hall, on Börseplatz 1, on Parkring 14, and at Palais Schotten- ring. Franz-Josefs-Kai also has new development projects being planned. The district’s hotspots include Börseplatz, Graben, and the area around Tuchlauben. ×

U Schottenring

U Schottentor

Börse- platz

U Schwedenplatz

Tuch lauben

Rotenturmstraße

U Rathaus

U Herrengasse

Graben

U Stephansplatz

U Stubentor

Kärntner Straße

U Volkstheater

U Stadtpark

U Museumsquartier

HOTSPOTS

U Karlsplatz

WOHNEN (PREIS/m 2 ) SPECIAL FEATURES OF DISTRICT The city centre is a diverse part of Vienna, and is hugely popular amongst inhabitants and tourists. Its exclusivity attracts especially the High Achiev ers and Established Sinus-Milieus ® : High Achievers appreciate the cos- mopolitan environment and its proximity to trendy restaurants, while the Established find contentment in their prestigious residential area close to cultural institutions such as the State Opera and Albertina Museum.

EIGENTUM ERSTBEZUG SONSTIGE MIETE ERSTBEZUG SONSTIGE coffeehouse culture is still celebrated. Ringstraße is a downtown boule- vard that replaced what was once the city walls in the mid-eighteenth century, and is now a varied and rich high-street shopping experience. It also provides an opportunity to stroll through the city and take in all kinds of architectures and institutions telling their own fascinating story. One such building can be found at Bauernmarkt 10, where famous author Franz Grillparzer was born. Just under fifty percent of the area has been developed, but the green areas in the city centre that account for around ten percent of the total area of the district provide a uniquely elegant flair.

Life is there to be enjoyed over a slice of the legendary Sachertorte choco- late cake or melange coffee in the iconic Café Hawelka, where Viennese

ZINSHAUS

Börseplatz 1 / EHL Immobilien

HOUSING FACTS

GOOD TO KNOW

16,306 8,921 1.83

38.8 km

OF CYCLE PATHS

RESIDENTS 2019

515

DOCTORS *

MAIN RESIDENCES 2018

DOG ZONES

PERSONS/HOUSEHOLD 2018

PLAYGROUNDS

+ –

949 822 127

MOVED IN MOVED OUT MIGRATION BALANCE

9.6% 2,718

GREEN SPACE WITH TREES **

DEMOGRAPHIC FACTS

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

VIENNA 30.2%

25–64 YEARS 15–24 YEARS 6–14 YEARS 0–5 YEARS

55.2% 9.2% 5.7% 4.5% 25.4%

-5.3%

INNERE STADT 24.9%

AVERAGE INCOME ***

> 65 YEARS

€ 26,480

INNERE STADT

€ 22,943

VIENNA

AGE

46.6 YEARS

HOUSING COSTS (PRICE/m²)

RENTED FIRST OCCUPANCY �� n/a **** OTHER �� n/a ****

OWNER-OCCUPIED FIRST OCCUPANCY �� n/a **** OTHER �� n/a ****

INVESTMENT PROPERTY �� € 6,800 to € 9,850/m 2

In this district, 160 changes of ownership were registered in the land registry in 2019, with a total sales value of approx. 237 million euros.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

1020 LEOPOLDSTADT

CENTRAL DI VERSITY

L EOPOLDSTADT IS ONE OF Vienna’s largest downtown development zones, and a highly sought-after district as re flected in the construction projects: development on what was once the Nordbahnhof railway station is already halfway to completion. This gradual development should see around ten thousand residential units and twenty thousand jobs created in the area by 2025.

ALONG THE BANKS OF THE DANUBE, DONAUUFER IS expe- riencing a revival with residential high-rises such as "MARINA TOWER" alongside the Second District’s other high-rise projects in develop- ment. Other hotspots in the district include the Vienna University of Economics and Business (WU) Campus, Stuwerviertel, and the Prater. ×

Nord- bahnhof

U Praterstern

U Schottenring

Stuwer- viertel

WU- Campus/ Messe

U Stadion

U Schwedenplatz

Handelskai

Hauptallee

Prater

U Donaumarina

Praterkai

HOTSPOTS

SPECIAL FEATURES OF DISTRICT The Consumption Oriented Sinus-Milieu ® is especially heavily represented in Leopoldstadt. This milieu appreciates the district’s urban grätzel struc- ture of small Viennese neighbourhoods with their traditional pub and tavern life, while attaching great importance to affordable housing and budget shopping opportunities. Located between Donaukanal and the Danube, greats of the Second Dis- trict included Johann Strauß, who composed The Blue Danube waltz at Praterstraße 54 in 1867.

The district’s location places it within easy reach of other districts and a variety of recreational and leisure activities in Leopoldstadt. Augarten is one of the oldest and most culturally significant parks in the city at more than fifty-two hectares – ideal for long strolls outdoors. The Vienna Prater, nearby football stadium, and Praterallee provide not only a district for leisure, but also a recreational area for active sports fans as well as spectators. Leopoldstadt is especially popular due to the green areas taking up almost forty-five percent of the total area of the district.

Wehlistraße 291 / BUWOG

HOUSING FACTS

GOOD TO KNOW

104,946 52,139 2.01

108.0 km

OF CYCLE PATHS

RESIDENTS 2019

271

DOCTORS *

MAIN RESIDENCES 2018

DOG ZONES

PERSONS/HOUSEHOLD 2018

120

PLAYGROUNDS

+ 6,239 – 5,652 + 587

MOVED IN MOVED OUT MIGRATION BALANCE

44.4% 8,188

GREEN SPACE WITH TREES **

DEMOGRAPHIC FACTS

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

VIENNA 30.2%

57.9% 12.4% 8.4% 6.4% 14.8%

25–64 YEARS 15–24 YEARS 6–14 YEARS 0–5 YEARS

+4.2%

LEOPOLDSTADT 34.4%

AVERAGE INCOME ***

> 65 YEARS

€ 22,904

LEOPOLDSTADT

€ 22,943

VIENNA

AGE

39.3 YEARS

HOUSING COSTS (PRICE/m²)

RENTED FIRST OCCUPANCY �� € 12.10/m 2 to € 12.70/m 2 weighted average �� € 12.50/m 2 OTHER �� € 10.50/m 2 INVESTMENT PROPERTY �� € 2,400 to € 6,200/m 2 ****

OWNER-OCCUPIED FIRST OCCUPANCY �� € 5,400/m 2 OTHER �� € 4,000/m 2

In this district, 721 changes of ownership were registered in the land registry in 2019, with a total sales value of approx. 218 million euros.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

INNOVATI VE DEVELOPMENT 1030 LANDSTRASSE

L ANDSTRASSE HAS THE HEAVIEST downtown develop- ment, and is the definitive area of residential high-rises. These in- clude the three residential high-rises in the "TRIIIPLE" project on Erdberger Lände and "The Marks" at St. Marx.

OTHER MAJOR project developments such as "IU – idyllisch_urban", "An der Lände 36–38", and "Lände 3" on Erdberger Lände reflect the unceasing popularity of the district as do the areas around the Stadtpark municipal park, Rochusmarkt, Erdberger Lände, and Erdberger Mais. ×

Weißgerberlände

U Landstraße

Stadtpark

U Stadtpark

U Rochusgasse

Rochus- markt

U Kardinal-Nagl-Platz

Erd- berger Lände

Landstraßer Hauptstraße

Rennweg

U Schlachthausgasse

U Erdberg

Rennweg

Erdberger Mais

St. Marx

Quartier Belvedere

Landstraßer Gürtel

U Gasometer

HOTSPOTS

SPECIAL FEATURES OF DISTRICT The Third District has seen some change since Ludwig van Beethoven composed his Ninth Symphony, Ode to Joy, at Ungargasse 46. The Third District, or simply “the Third”, has experienced a variety of development activities such as the St. Marx urban development area. A state-of-the-art centre for research, media and housing was built here; an event hall with the latest in technical equipment is soon to grace the area. Apart from its proximity to downtown Vienna, this is another reason for the district to

attract the High Achievers Sinus-Milieu ® . Landstraße is a place of contra- dictions reflected in the district’s structure: vibrant shopping streets, an at- tractive local scene around Rochusmarkt, the upmarket embassy quarter, working-class grätzel neighbourhoods, and cultural institutions such as Kunst Haus Wien, Rabenhoftheater, and Akademietheater stand witness to the district’s diversity. As do its parklands that make up around fifteen percent of the local green space.

Döblerhofstraße 10 / BUWOG

HOUSING FACTS

GOOD TO KNOW

91,745 47,309 1.94

63.7 km

OF CYCLE PATHS

RESIDENTS 2019

331

DOCTORS *

MAIN RESIDENCES 2018

DOG ZONES

PERSONS/HOUSEHOLD 2018

PLAYGROUNDS

+ 5 ,196 – 4,383 + 813

MOVED IN MOVED OUT MIGRATION BALANCE

14.9% 2,203

GREEN SPACE WITH TREES **

DEMOGRAPHIC FACTS

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

VIENNA 30.2%

59.8% 11.1% 7.2% 5.6% 16.3%

25–64 YEARS 15–24 YEARS 6–14 YEARS 0–5 YEARS

+1.6%

LANDSTRASSE 31.8%

AVERAGE INCOME ***

> 65 YEARS

€ 24,172

LANDSTRASSE

€ 22,943

VIENNA

40.9 YEARS

AGE

HOUSING COSTS (PRICE/m²)

RENTED FIRST OCCUPANCY �� € 12.20/m 2 to € 13.00/m 2 weighted average �� € 12.70/m 2 OTHER �� € 11.00/m 2 INVESTMENT PROPERTY �� € 2,400 to € 4,600/m 2

OWNER-OCCUPIED FIRST OCCUPANCY �� € 5,600/m 2 OTHER �� € 4,100/m 2

In this district, 876 changes of ownership were registered in the land registry in 2019, with a total sales value of approx. 301 million euros.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

BLISSFUL LI V ING IN WIEDEN 1040 WIEDEN T HE FOURTH DISTRICT is rather small in area and residen- tial construction projects are relatively scarce. Even so, Wiedner Hauptstraße is undergoing some highly attractive transforma- tions. There are exciting project developments such as on Argentinier-

straße as well as along the border to the First District. The area around Südtiroler Platz is popular, which is mainly due to its good transport links to the Vienna metro and regional railway services. Other hotspots in the district include Naschmarkt and Freihausviertel. ×

U Karlsplatz

Nasch- markt

Frei- haus- viertel

Argenti- nier- straße

Prinz-Eugen-Straße

U Taubstummengasse

Favoritenstraße

Süd- tiroler Platz

U Südtiroler Platz

Hauptbahnhof

HOTSPOTS

SPECIAL FEATURES OF DISTRICT Wieden has its attractions for residents even if green space only takes up around ten percent of the district’s area. The Postmaterialists Sinus-Milieu ® appreciates the district’s proximity to learning institutions such as the The- resian Academy and the Technical University, and the well-developed net- work of cycle paths. High Achievers are equally well-represented as they appreciate the diverse restaurants and cafés and the centrally located, prestigious residential environment close to the city centre. Karlsplatz has come to be regarded as a main metro junction with much to offer in terms

of historical and cultural value: Antonio Vivaldi found his final resting place at Karlsplatz 13 in 1741, which is also where Dr. Karl Lueger, a former Lord Mayor of Vienna, was born just under a century later. Apart from that, the Otto Wagner Pavillon and the Church of St. Charles, considered to be one of the landmarks of Vienna, are located right at Karlspatz. The Funkhaus Wien broadcasting centre – home to the Vienna Radio Symphony Orchestra – is located next door to Argentinierstraße.

Wohllebengasse 6 / EHL Immobilien

HOUSING FACTS

GOOD TO KNOW

33,263 17,219 1.93

15.2 km

OF CYCLE PATHS

RESIDENTS 2019

178

DOCTORS *

MAIN RESIDENCES 2018

DOG ZONES

PERSONS/HOUSEHOLD 2018

PLAYGROUNDS

+ 2,254 – 1,864 + 390

MOVED IN MOVED OUT MIGRATION BALANCE

10.0% 539

GREEN SPACE WITH TREES **

DEMOGRAPHIC FACTS

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

VIENNA 30.2%

25–64 YEARS 15–24 YEARS 6–14 YEARS 0–5 YEARS

59.8% 11.5% 6.8% 4.9% 17.0%

+2.2%

WIEDEN 32.4%

AVERAGE INCOME ***

> 65 YEARS

€ 25,878

WIEDEN

€ 22,943

VIENNA

41.5 YEARS

AGE

HOUSING COSTS (PRICE/m²)

RENTED FIRST OCCUPANCY �� € 13.00/m 2 to € 13.50/m 2 weighted average �� € 13.20/m 2 OTHER �� € 11.20/m 2 INVESTMENT PROPERTY �� € 3,200 to € 4,400/m 2

OWNER-OCCUPIED FIRST OCCUPANCY �� € 5,700/m 2 OTHER �� € 4,200/m 2

In this district, 277 changes of ownership were registered in the land registry in 2019, with a total sales value of approx. 118 million euros.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

RUSTIC CHARM 1050 MARGARETEN T HE ONGOING EXTENSION to the metro network has al- ready initiated an increase in prices around Matzleinsdorfer Platz. The area also benefits from modern high-rise buildings between the Hauptbahnhof main railway station and the Fifth District

as well as the major companies setting up shop there. Margareten has undergone substantial upgrading in the last few years, and is catching up with the Sixth District. Naschmarkt and Margaretenplatz are amongst the hotspots of the district. ×

Nasch- markt

U Kettenbrückengasse

U Pilgramgasse

Margare- tenplatz

U Margaretengürtel

Wiedner Hauptstraße

Reinprechtsdorfer Straße

Matzleinsdorfer Platz

HOTSPOTS

SPECIAL FEATURES OF DISTRICT Margareten used to be known as a working-class district, but has since developed into a hip area with plenty of start-ups. Even so, the Fifth Dis- trict has lost none of its rustic charm: publicly accessible inner courtyards in some of the older buildings – often hidden away and only familiar to those who know the district – such as Schlossquadrat, provide not only a host of cafés and restaurants but also welcome shade from the sun in the hot summer months in the city. The Fifth District, or “the Fifth” to the locals, is home to the alternative arts scene, so it comes as no surprise

that Falco wrote Der Kommissar, his major international chart hit, here at Ziegelofengasse 37. Even now, the district is especially attractive to the Escapists Sinus-Mileu ® , who also appreciates the low cost of housing close to the Vienna Beltway. Nearly sixty-five percent in developed area provides plenty of space for attractive student housing, cultural diversity, and a trendy bar and restaurant scene, which also makes Margareten especially attractive to Digital Individualists. The district has a number of small public parks despite the low proportion of green space at just 4.4 percent.

Margaretenstraße 131–135 / EHL Immobilien

HOUSING FACTS

GOOD TO KNOW

55,407 29,355 1.89

26.0 km

OF CYCLE PATHS

RESIDENTS 2019

145

DOCTORS *

MAIN RESIDENCES 2018

DOG ZONES

PERSONS/HOUSEHOLD 2018

PLAYGROUNDS

+ 3,407 – 3,050 + 357

MOVED IN MOVED OUT MIGRATION BALANCE

4.4% 758

GREEN SPACE WITH TREES **

DEMOGRAPHIC FACTS

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

VIENNA 30.2%

25–64 YEARS 15–24 YEARS 6–14 YEARS 0–5 YEARS

62.3% 11.9% 6.6% 5.3% 14.0%

+7.4%

MARGARETEN 37.6%

AVERAGE INCOME ***

> 65 YEARS

€ 20,479

MARGARETEN

€ 22,943

VIENNA

39.6 YEARS

AGE

HOUSING COSTS (PRICE/m²)

RENTED FIRST OCCUPANCY �� € 11.80/m 2 to € 12.30/m 2 weighted average �� € 12.00/m 2 OTHER �� € 10.70/m 2 INVESTMENT PROPERTY �� € 2,050 to € 3,500/m 2

OWNER-OCCUPIED FIRST OCCUPANCY �� € 5,200/m 2 OTHER �� € 3,900/m 2

In this district, 355 changes of ownership were registered in the land registry in 2019, with a total sales value of approx. 87 million euros.

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020

TASTEFUL VARIETY 1060 MARIAHILF A LREADY WELL-DEVELOPED , the Sixth District is gaining in attractiveness from the newly designed Mariahilfer Straße and planned metro extension linking Mariahilf to the U2 metro line. There are few construction projects here due to the well-developed

nature of the area. Nonetheless, demand for housing is high, albeit with a definite slope towards the Westbahnhof railway station and the Beltway. Sought-after residential areas mainly include Gumpendorfer Straße and the areas around Naschmarkt and Getreidemarkt. ×

U Museumsquartier

Getreide- markt

Mariahilfer Straße

U Neubaugasse

Maria- hilfer Straße

Gumpen- dorfer Straße

Nasch- markt

U Zieglergasse

Mariahilfer Straße

Gumpendorfer Straße

U Kettenbrückengasse

U Westbahnhof

U Pilgramgasse

U Gumpendorfer Straße

HOTSPOTS

U Margaretengürtel

SPECIAL FEATURES OF DISTRICT You can argue about taste – except in Mariahilf. The variety is so great here that it makes up for the lack of green space at only two percent: Mariahilfer Straße, Austria’s longest high street, and Gumpendorfer Straße provide a wide variety of local and individual shops as well as interna tional chain stores. The High Achievers Sinus-Milieu ® especially appreciates this, while Postma- terialists enjoy the abundance of places to meet as well as the cycle paths and pedestrian precincts. Naschmarkt is as attractive to High Achievers

as it is to any other visitor to the district: every day sees an unusually lively environment brimming with lifestyle and flair with around a hundred and twenty market stalls on an area of 2.3 hectares. From gourmet deli catessens to a variety of dining establishments, fine eaters are guaranteed satisfaction until the late evening hours. An impressive range of muse- ums, collections, and theatres provide the district’s cultural highlights. The Raimund Theater, which is mainly used for musicals, is one such attraction. The theatre was named after the actor Ferdinand Raimund, who was born at Mariahilfer Straße 45 in 1790.

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