Overview of Vienna’s Districts
15., Rudolfsheim-Fünfhaus
The current weak phase on the investment property market is particularly pronounced in the 15 th District, and the ab- sence of prospective buyers has recently been reflected in substantial price discounts. However, close proximity to the city centre, the redesign of the West Railway Station grounds, and planned traffic calming along the Outer Mariahilfer Strasse should have a positive influence over the longer term.
Rudolfsheim-Fünfhaus was a hidden gem on the investment property market in Vienna for many years due to the benefits provided by its steady transformation from a social flashpoint into a district with increasingly attractive residential areas. This upward trend has, however, stopped and been followed by a particularly strong decline in transaction volumes and prices. Prices ranging from 2,900 to 4,900 Euros per square metre were possible up to 2022, but a property in the Flachgasse sold for less than 1,700 Euros in 2023. A transaction at the traffic intersection on the Sechshauser Strasse brought roughly 2,050 Euros per square meter, and even at good locations, five minutes from the U3 subway station at the Schweglergasse and even closer to the recreational area on the Schmelz, only about 2,400 Euros per square metre were realised.
would trigger the start of an upturn in the Outer Mariahilfer Strasse have not been met to date. The closing of the neigh- bouring Sports Direct (formerly Sports Eybl) is an indication of the substantial challenges currently facing the stationary retail trade. The implementation of new functions for the massive West Railway Station grounds, which will fundamentally change the district, will apparently take longer than planned. Two positive factors are the acceptance of the many hotels and hostels which have appeared near the West Railway Station and the additional projects currently under development. The basically excellent future prospects remain intact despite the current weak phase: The district is very close to the city centre and the subway and rapid transit railway guarantee optimal connections to the public transportation network.
Construction started this year on the planned transformation of the Outer Mariahilfer Strasse (greening, bicycle lane, broad sidewalks etc.). The re-design of the West Railway Station grounds may take longer than hoped but, in the end, will be completed and upgrade practically the entire district as a residential area and investment target.
Rudolfsheim-Fünfhaus
Investment prop. prices 1,700 to 4,400 EUR/sqm
Yields
2.5 to 3.6 %
Monthly rents (net) in EUR/sqm
Apartments
Ø 12.45
The district is very close to the city centre and the subway and rapid transit railway guarantee optimal connections to the pub- lic transportation network.
In addition to the general market trend, the reasons for this downturn are to be found in the district itself. Expec- tations that the IKEA store at the West Railway Station
Offices
10.50 to 14.50
Retail space A locations
10 to 25
Retail space B locations
5 to 9
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Investment Property Report
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