Investment Property Report 2023

WÄHRING Monthly rents (net) in EUR/sqm

Apartments Offices Retail space

Ø 13.45 10.0 to 15.0

15–35

A locations B locations

5–11

DÖBLING Monthly rents (net) in EUR/sqm

WÄHRING

DÖBLING

Apartments Offices Retail space

Ø 13.75 10.0 to 18.0

Investment property prices Yields

2,500 to 5,700 EUR/sqm

3,400 to 5,600 EUR/sqm

15–30

A locations B locations

1.9 to 2.7 %

1.8 to 2.6%

6–12

18., Währing | 19., Döbling

These popular green districts have retained their price stability as investment property markets, even under the changing framework conditions, and remain interesting especially for developers. The transaction volume in the traditionally low-turnover Döbling quadrupled during 2022.

Excellent residential value and perfect image

tutional as well as private investors: The largest transaction in 2022 was the sale of an investment property by a listed insurance company to a Vi- enna investment property developer. The highest square metre price was recorded at EUR 9,000/ sqm for a small investment property villa on the Weimarer Strasse. This value is, however – similar to the sale of other investment property villas – not representative of the district’s investment property market. The market volume in Döbling is substantially lower from a structural perspective because it covers only a very small stock of investment properties adjoining Spittelau Railway Station. The district recovered significantly in 2022 with a transaction volume of nearly EUR 100 million and, with a plus of 300 per cent, was the fastest growing investment property market in the city. All of the largest transactions in 2022 took place near or along the Heiligenstädter Strasse up to Nussdorf. The buyer side in Döbling is dominated by developers who continue to see attractive earning opportunities through tenancy conversion and the sale of condominiums in this extremely high-priced apartment market.

Währing, a district well known among large parts of the population as a “green district“, is actually situated at traditional investment property loca- tions between the beltway and Gersthofer Strasse. This heavily populated area with its high-quality stock of older buildings has given Währing an active and dynamic investment property market, where turnover again exceeded EUR 100 million in 2022. The district has proven to be more stable than the Vienna average with regard to prices, apart from selected increases, and square metre prices of up to EUR 5,000 can also be expected in 2023. This reflects the high residential value – social struc- ture, close proximity to Türkenschanz Park and the villa outskirts – as well as the district’s excellent image as a residential address. There is hardly any possibility to create additional living space, which means the sound demand for apartments is cont- rasted by an essentially unchanging supply. The buyer side has been recently dominated by developers who are looking for available expan- sion opportunities. Transactions involved insti-