Average rental prices and net purchase prices on first-time occupancy in Vienna (in Euros/sqm)
16,00
Vienna is approaching the next price wave – why investors should buy now
7.000
15
14,87
6.695
6.000
14
6.303
6.069
13,90
5.855
5.000
13
12,87
4.829
4.000
12
12,42
3.000
11
2.000
10
2021
2022
2023
2025
2024
2026 will mark a strategic turning point for investors in Vienna’s apartment market. The parameters have shifted notably – in favour of anticyclical actors who take an early position.
Rental prices
Purchase prices
Source: EHL Market Research | Q2 2026
Inner city districts
Outlying districts Market conditions are also shifting notably outside the beltway. Districts like Ottakring and Hernals have seen strong growth in demand since 2024 and have been joined by Liesing since 2025. The indicators also support investments at these locations. The increase in purchase prices is below ave- rage at nearly 1.75% to roughly € 5,800/ sqm, while rents rose on average to roughly € 14.50/sqm. Moderate purchase prices together with rising rents make yields over 3.6% possible. Good initial yields and efficient inner city connections have moved Simmering into the focus of investors. The districts north of the Danube are also witnessing an all-time high because the decline in building permits leads to expectations that the comparatively broad apartment supply will decrease and a shortage is approaching.
The prices for investment apartment transactions again point to an upward trend. Average selling price rose by roughly 6% from € 6,303/sqm in 2024 to € 7,000/sqm in 2025. The rental market was even more dynamic: Average net rents increased from € 14.87/sqm to € 16.20/sqm, or by 8.6%. This development is the result of steady high demand combined with a sharp drop in new construction. Noticeably higher rents can also be expected for first-time occupancies in 2026. The main contributing factors include continued migration to Austria and demographic developments, both of which add to the demand for housing. The market’s structural problem lies less in quality and more in quantity. The massive drop in building permits has largely reduced the new supply entering the market, and available units are therefore quickly
absorbed. The demand for rental apartments remains high, marketing periods are short, and the income situation is correspondingly stable. That creates a constellation for investors that has been absent for some time: Initial yields over 3% are now possible depending on the location. In some cases, they even exceed financing costs and further shift the ratio between income and debt service in favour of investors. Consequently, the premium investment apartment market is again able to offer secure income, rising market rents on re-letting and the potential for solid value appreciation. Early positioning makes it possible to participate in the future market momentum.
Central locations will remain stable in 2026 and benefit from an outstanding urban infrastructure and constant high demand from a high-end, in part international clientele. The supply is limited to individual urban development areas in the 2nd and 3rd districts as well as a few projects which, in total, add to the prospects for value appreciation. Acquisitions at these locations are based less on the expected yield and more on the location quality. Ne- vertheless, the yield situation has improved significantly. The structural shortage at inner city locations has led to far above- average investor purchase prices of roughly € 7,000/sqm and is the basis for long-term value appreciation. The rental trend is also positive: First-time rentals bring € 19.20 to € 24.60/sqm net, which means initial yields of over 3% are also conceivable at good locations.
16
17
Mauerbachstraße 17 1140 Vienna
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