Overview of Vienna’s Districts
16., Ottakring
Transaction activity has also slowed considerably in Ot- takring, the district with the largest stock of 19 th Century investment properties in Vienna. The strong demand for properties with development potential, especially up to 2022, has been followed by a phase with few potential buyers. The interest is greater for smaller investment properties and historical villas near the Wilhelminenberg.
The investment property market in the 16 th District was characterised for more than a decade by the development of 19 th Century buildings in need of renovation and with a potential for expansion. There were also numerous demolition/new construction projects. Both business models are currently under heavy pressure. This has led in part to substantial price declines, in some cases to the 2020 level, and to
The limited number of investment property transactions in 2023 were located in the core zones of the Ottakringer Market: In or directly near the Thaliastrasse, properties in the Klausgasse and Kirchstetterngasse each sold for 2,300 Euros per square metre, while a smaller house close to the Ottakring subway and rapid transit railway station changed hands for a substantially higher price (which is not at all repre-
populous beltway district are not to be expected over the short term.
A sustainable market recovery can only be expected when there is an increase in demand on the investment market and developers begin to search for locations to realise their new construction projects.
sentative of the market). Two further deals were concluded near the popular Yppenplatz/ Brunnenmarkt residential areas at slightly higher square metre prices. The smaller secondary market for historical villas in the green areas bordering the Vienna Woods (Gallitzinstrasse/ Wilhelminenberg) has proven
Ottakring
There are few investors on the market at the present time – but they expect yields of roughly 3.5 per cent, which leads to further pressure on prices.
Investment prop. prices 1,400 to 3,800 EUR/sqm
Yields
2.7 to 3.8 %
Monthly rents (net) in EUR/sqm
Apartments
Ø 12.85
Offices
10.50 to 16.50
very weak transaction activity. There are few investors on the market at the present time – but they expect yields of roughly 3.5 per cent, which leads to further pressure on prices.
to be more stable. Here, developers have recently refurbished properties in line with high-quality green building standards.
Retail space A locations
10 to 20
Retail space B locations
5 to 9
Positive impulses for Vienna’s most
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Investment Property Report
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