RUDOLFSHEIM-FÜNFHAUS
Investment property prices Yields
EUR 2,900 to 4,900/sqm 2.2 to 3.1 %
Monthly rents (net) in EUR/sqm
Apartments Offices Retail space
Ø 11.85 10.0 to 14.0
10–25
A locations B locations
5–9
The steady transformation of this former social flashpoint into a good, popular re- sidential area has led to a sharp rise in prices over the past years. Above-average declines can be expected in the short-term, but the excellent long-term perspec- tives are intact. 15., Rudolfsheim-Fünfhaus
High expectations for the Outer Maria- hilfer Strasse
– despite the delay. Successfully marketed new construction projects along the western gateway and the multi-functional VIO Plaza directly across the district borders will increase the attractiveness of the district’s southern area. North of the railway line, refurbishment measures and traffic calming will add to the residential quality.
The spectacular construction of the IKEA City Store at the West Railway Station raised great hopes: This furniture store was expected to trigger the start of an extensive upgrading in the Outer Mariahilfer Strasse and the area south of the West Railway line. Expectations have, however, only been filled in part: The store itself is highly successful and vacancies in the Mariahilfer Strasse are low, but any impro- vement through shops with more than only local relevance has not materialised to date. The situation on the apartment market is compa- rable: An improvement is visible, but not to the extent expected by some investment property de- velopers and investors – and a price correction is currently in progress. Record prices of EUR 2,900 to 4,900/sqm were recorded in the first half of 2022, but the range has now declined to between EUR 2,300 and 3,600. There are, however, indications that this is only a downward overreaction. Rudolfsheim-Fünfhaus offers very attractive perspectives over the me- dium- and long-term. The expected “IKEA effect“ for the Outer Mariahilfer Strasse will materialise
„The redesign of the West Railway grounds will be a gamechanger.“
Not only the district‘s central location and excellent traffic connections but the redesign of the massive West Railway grounds – which, for the most part, are no longer needed for railway operations – will play an important role in market development over the long-term. If the prolon- ged negotiations between the city government and the Austrian Railway Corporation bring the expected results with a mixture of residential construction, offices and urban infrastructure as well as green areas and recreational space, the value of the surrounding investment properties will increase similar to the effects created by the urban development projects at the North and Central Railway Stations.
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