Overview of Vienna’s Districts
17., Hernals
The investment property market in Hernals can be considered the smaller twin of the neighbouring, larger Ottakring. The 17 th District has, however de- veloped better, also but not only due to the future subway connections created by the U5 line.
Based on population, Hernals is one of the smaller outlying districts but it does have a relatively large stock of investment properties. The transaction volume is, in general, slightly lower than the larger districts. Hernals was unable to disengage from the downward market trend that took hold in 2022, but the decline in transaction volume and prices was less severe.
realised in 2023 on sales in the Natter- gasse and Veronikagasse, while a very impressive 3,340 Euros per square metre was paid for a 19 th Century property in the Bergsteiggasse. The 4,100 Euros per square metre paid for a property on Leopold-Kunschak-Platz, near the noble Dornbach suburb, must be
Elterleinplatz. This will, however, change dramatically when the market recovers and developers will be able to calculate with substantially higher prices than at other Hernals locations. The U5 subway line will significantly im- prove transport connections for the entire district, and the positive influence on the real estate market and prices will increase as the start of operations nears.
seen as an exception. It shows, however, that higher prices will be accepted in very attractive residential areas. Individual properties can also bring a certain “collector’s bonus”. This applies to properties in the green, more expensive residential areas like Dornbach, Schafberg and Predigtstuhl as well as the area near the Kutschker Market, the most popular neighbourhood in the 17 th District.
The current price level for standard properties with a normal market tenant structu- re was marginally lower than the previous year and normal- ly ranged from 2,000 to 2,500 Euros per square metre in the first quarter of 2024.
Hernals
Investment prop. prices 1,900 to 5,100 EUR/sqm
Yields
2.2 to 3.4 %
Monthly rents (net) in EUR/sqm
The current price level for standard properties with a normal market tenant structure was marginally lower than the previous year and normally ranged from 2,000 to 2,500 Euros per square metre in the first quarter of 2024. Prices of slightly below 2,700 Euros per square metre were
The Postsportplatz new construction project has been halted, at least temporar- ily. It would create up to 1,000 apartments and generate valuable impulses for the local investment property market. There has recently been little activity in the area surrounding the U5 subway station at
Apartments
Ø 12.90
Offices
10.50 to 15.00
Retail space A locations
10 to 15
Retail space B locations
5 to 9
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Investment Property Report
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