Overview of Vienna’s Districts
6., Mariahilf
The increasing pressure on the retail trade had led to rising vacancies, more frequent tenant turnover and a general downward trend in rents along the Mariahilfer Strasse. Offside the Mariahilfer Strasse, the other district quarters have done better and are more stable than the market as a whole.
The investment property market in Mariahilf is highly dependent on the development of the Mariahilfer Strasse. Its conversion into an “encounter zone“ generated positive impulses for several years, but the situation surrounding the Lamarr shopping centre project and the challenges faced by retailers and the shopping mile have become a negative
expected due to the size of the individual investments and the general reservation of potential buyers for properties with a high retail component. Other areas in the district are much less affected by the difficult market situation. Locations near the city centre and up to the Neubaugasse are especially sought
Pilgramgasse subway hub and the expan- sion of the Naschmarkt (market hall and green areas).
factor for the investment property market along the entire street and into the surrounding areas. Vacancies have recently in- creased, and contract extensions are now often linked to discounts
Locations near the city centre and up to the Neubaugasse are especially sought after.
Mariahilf
or incentives for tenants. That has a nega- tive effect on current income and has also led to higher yield expectations of five per cent or more on the part of investors. The problems surrounding the Lamarr shopping centre project, where construction was halted at the beginning of 2024, have also become a liability for the entire street. A number of owners are planning to exit given the challenging situation, and sales opportunities for several prominent properties are currently under evaluation. As a rule, a longer marketing period can be
after, while there is room for improvement at locations close to the beltway and the Gumpendorfer Strasse subway station. In the Mariahilfer Strasse, the further development of the retail trade and value-creating concepts for the conversion of retail space above the ground floor zones will be decisive. The pace of development can be expected to accelerate over the coming years at good locations near the inner city after construction is completed at the future
Investment prop. prices 2,800 to 5,900 EUR/sqm
Yields
1.8 to 3.1 %
Monthly rents (net) in EUR/sqm
Apartments
Ø 14.35
Offices
12.00 to 20.00
Retail space A locations
30 to 150
Retail space B locations
6 to 25
36
Investment Property Report
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