First Vienna Residential Market Report | 2021

FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021

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MELTING POT IN THE SOUTH 1100 FAVORITEN O NCE A CLASSICAL WORKING-CLASS DISTRICT, Fa- voriten is transitioning into a modern residential and office quarter. This is partly due to the many new development projects in the district, many of which include subsidised housing

development. This rapid development activity includes projects such as Sonnwendviertel, Quartier Belvedere, and Biotope City at Wienerberg. The latter is already benefiting from the new route of the U2 metro line, which is currently under construction. ×

U Südtiroler Platz Hauptbahnhof

Quartier Belve- dere

U Keplerplatz

Sonn- wend- viertel

U Reumannplatz

U Troststraße

Triester Straße

U Altes Landgut

Wiener- berg

Favoritenstraße

U Alaudagasse

U Oberlaa

Oberlaa

HOTSPOTS

SPECIAL FEATURES OF DISTRICT Favoriten has around two hundred thousand inhabitants, making it one the most heavily populated districts in Vienna – the district would be the fourth largest city in Austria on its own. A down-to-earth attitude and diverse population characterise the Tenth District – a variety of cultures and languages come together on the busy shopping streets of Favoriten- straße and Viktor-Adler-Markt. The Sinus-Milieu ® of the Traditionals feels at home in the long-established residential areas with attractive housing costs, whereas Adaptive-Pragmatists appreciate the family-friendly atmo- sphere of less densely built-up neighbourhoods and newly developed resi- dential areas offering everything under one roof.

The various old Viennese grätzel neighbourhoods in the Tenth District are as diverse as their residents, from the modern main railway station on the Vienna Beltway with its surrounding urban development area, the extensive residential areas, green oasis and Wienerberg office centre to rural Oberlaa with the Kurpark recreational facilities and thermal baths just within the city limits. The district consists of forty-six percent green areas presenting a wealth of opportunity for leisure and relaxation. The great innovative potential of the district is reflected in current urban development projects expedited by the U1 extension, projects such as Viola Park currently under development as well as the university of applied sciences campus on the Favoriten roundabout.

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