Overview of Vienna’s Districts
4., Wieden
The location between the inner city and the booming of- fice and residential quarter at the Central Railway Station makes Wieden one of the city’s most popular and interest- ing residential areas. Transaction activity on this high-priced submarket is traditionally restrained, but peak prices have also declined in comparison with other locations in Vienna.
Wieden is one of the smallest, centrally located districts based on area and on the number of residents. It is, however, important for the entire market due to the high share of 19 th Century buildings. The reconstruction of the Central Railway Station and the Sonnwend Quarter generated increased investor interest for several years, above all in the areas near the beltway, but the focus has shifted again to centrally located zones near the inner city. The largest transaction in 2023 was the sale of a property in the Schäffergasse, which was purchased by a private investor from an Austrian real estate fund for nearly 14 million Euros. The Freihaus Quarter between the Vienna University of Technology and the Nasch- markt (an open-air market) has become the site of a booming gastronomy scene with profitable opportunities for ground floor space. However, the highest prices in
personnel. The prestige of this micro- location is underscored by the embassies’ readiness to also accept top rental prices. The Argentinierstrasse, another highly desirable residential locations in Wieden, is currently undergoing a remarkable transformation. It will be converted into a bicycle boulevard and, with spacious areas for pedestrians and extensive greening, become an attractive community area with dynamic “street life”. For the neighbouring locations, this project can also bring a substantial increase in image and value. Uncertainty is, however, still connected with the future use of the legendary broad- casting studio in the Argentinierstrasse: Premium apartments were planned for the building but realisation is well behind the initial schedule.
demand for housing in the future. There are virtually no possibilities to create additional space which means solid development and optimal prospects, for example through the sale of condominiums, can be expected over the medium and long term.
Wieden
Investment prop. prices 3,600 to 5,900 EUR/sqm
Yields
1.7 to 2.7 %
Monthly rents (net) in EUR/sqm
The high urbane quality of life in Wieden will also support the steady and strong
Apartments
Ø 14.55
the district are found to the east behind St. Charles’s Church and on the side streets off Prinz Eugen Strasse. Numerous embassies are located here, which leads to frequent demand for high-quality apartments for the diplomatic
The high urbane quality of life in Wieden will also sup- port the steady and strong demand for housing in the future.
Offices
11.00 to 21.00
Retail space A locations
15 to 30
Retail space B locations
5 to 12
32
Investment Property Report
Powered by FlippingBook