First Vienna Residential Market Report | 2018

FIRST VIENNA RESIDENTIAL MARKET REPORT

EDITION 2018

EDITORIAL

DEAR READER

Looking into the future, we are also looking closely into the needs and demands that will be placed on the apartment of the future – whether Generation Y and future generations, or intergenerational and barrier-free living. Digitalisation and changing values will play a significant role in sustainable planning and in construction too. This and progress in au tonomous driving are developments with a major impact on properties. We at the BUWOG Group and EHL Immobilien have done our best to ensure that our customers and the residents of Vienna enjoy adequate housing with correspondingly high quality of living at the state of the art not just now, but in the future: residential property not only meets basic human needs, but also plays a major economic role in employment, innovation and growth as reflected not only in burgeoning market demand. This makes it all the more important for major players in the property market to shoulder their responsibility. BUWOG Group is one of the largest developers in Vienna and EHL Immo bilien is one of the leading real-estate service companies in Austria. As such, we place a lot of importance on passing on our expertise and experience in the housing market while providing a summary of the developments in the property market in this report. The report contains specific factors, perspectives and new developments in all twenty-three districts of Vienna.

We are proud to present the sixth edition of the First Vienna Residential Market Report in 2018, a joint publication by BUWOG Group and EHL Immobilien. The Mercer study has named Vienna as the city with the highest quality of life for the eighth time in a row, and it comes as no surprise that the Austrian capital faces a continuously increasing population with projections at around two million inhabitants by the year 2025. This development stems from the increasing attractiveness of urban areas as well as from immigration, but also from the ageing population demographic and increasing trend towards single households. As a result, demand has been outstripping supply on the Viennese housing market for years, a tendency that is still rising at a shortfall of more than ten thousand residential units per annum. Other factors include cheap credit and low interest rates further stoking demand. Promoting residential construction will be inevitable to counter this on going trend, especially towards the outskirts. However, developers face issues such as land scarcity and lengthy rezoning procedures in Vienna. ”Looking into the future, we are also looking closely into the needs placed on an apartment by upcoming generations.”

FIRST VIENNA RESIDENTIAL MARKET REPORT

www.residentialmarketvienna.at

We wish you a rewarding read with the First Vienna Residential Market Report 2018.

YOURS SINCERELY

Mag. Daniel Riedl FRICS CEO BUWOG AG

Andreas Holler, BSc Managing Director of BUWOG

Mag. Michael Ehlmaier FRICS Managing Director and shareholder of EHL Immobilien

DI Sandra Bauernfeind MRICS Managing Director of EHL residential property department

First Vienna Residential Market Report | 2018

INTRODUCTION

TABLE OF CONTENTS

OUR MOTIVATION

36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 65 66 67 68 69 70 71 72 73

1100 VIENNA FAVORITEN 1110 VIENNA SIMMERING 1120 VIENNA MEIDLING 1130 VIENNA HIETZING 1140 VIENNA PENZING 1150 VIENNA RUDOLFSHEIM-FÜNFHAUS

EDITORIAL

THE FIRST VIENNA RESIDENTIAL MARKET REPORT is now in its sixth edition in 2018 since its first appearance in 2013. This makes us especially proud at BUWOG Group and EHL Immobilien, as our ex perience and knowledge in the real-estate sector as market experts will enable us to give a full insight into the Viennese housing market. THE CURRENT EDITION of the First Vienna Residential Market Report will again see the BUWOG Group, as the most active developer, and EHL Immobilien, as one of the largest housing services, pool our entire knowledge of the field. We have included the main Sinus Milieus ® prevailing in the districts as collected by INTEGRAL Markt und Meinungs forschungsges.m.b.H. so as to represent social developments in Vienna as well. Development is an important keyword here: how will the

Viennese housing market develop? We’ve asked Christiane Varga from the Zukunftsinstitut institute of future studies about it.

THIS REPORT – like those from previous years – distinguishes itself from other market reports and studies by only listing final purchase prices or rents as opposed to prices offered. This enhances the validity of the First Vienna Residential Market Report. As an annual publication, the report is also in a position to compare figures for Vienna and its districts. ALL INFORMATION USED corresponds to the current state of aware ness and the latest data. The statistical information that the report draws on comes from Statistics Austria (the state statistics office) and the City of Vienna (MA 23 – Economics, Labour and Statistics).

INTRODUCTION TABLE OF CONTENTS OUR MOTIVATION

02 03 04 05

1160 VIENNA OTTAKRING 1170 VIENNA HERNALS 1180 VIENNA WÄHRING 1190 VIENNA DÖBLING 1200 VIENNA BRIGITTENAU 1210 VIENNA FLORIDSDORF 1220 VIENNA DONAUSTADT 1230 VIENNA LIESING

BUWOG GROUP EHL IMMOBILIEN

HOUSING MARKET OWNERSHIP STRUCTURE IN 2017 DEMOGRAPHICS OF AUSTRIA HOUSEHOLDS IN AUSTRIA DEMOGRAPHICS OF VIENNA HOUSEHOLDS IN VIENNA

06 08 09 10 11

BUWOG GROUP & EHL IMMOBILIEN PROJECTS RIVUS II / BUWOG GROUP WOHNZEILE15 / BUWOG GROUP CITY APARTMENTS / BUWOG GROUP SEESEE HOME / BUWOG GROUP GRINZINGER ALLEE / BUWOG GROUP HOCH 33 / EHL IMMOBILIEN UPPER WEST 119 / EHL IMMOBILIEN TRIIIPLE STADT.LAND.FLUSS. / EHL IMMOBILIEN MYSKY / EHL IMMOBILIEN PALAIS SCHOTTENRING VIENNA / EHL IMMOBILIEN

12 13

FUTURE RESEARCH THE SINUS-MILIEUS®

DISTRICTS OF VIENNA VIENNA AT A GLANCE

16 18 20 22 24 26 28 30 32 34

1010 VIENNA INNERE STADT 1020 VIENNA LEOPOLDSTADT 1030 VIENNA LANDSTRASSE 1040 VIENNA WIEDEN 1050 VIENNA MARGARETEN 1060 VIENNA MARIAHILF 1070 VIENNA NEUBAU 1080 VIENNA JOSEFSTADT 1090 VIENNA ALSERGRUND

74 75 77

CLOSING WORDS COMMENTS AND TERMINOLOGY IMPRINT

EINLEITUNG

BUWOG GROUP THE BUWOG GROUP is the leading full-service supplier to the residential housing sector in Germany and Austria with sixty-six years of experience in the property market. The Group’s high-quality portfolio currently includes around 49,000 units distributed across Germany and Austria. OUR HISTORICALLY DEVELOPED BUSINESS MODEL builds on three strategically valuable business areas: new project development for the market or transfer to the existing BUWOG portfolio (property development), value-oriented sales of individual apartments, properties or portfolios (property sales), and asset management form a closed value-added cycle that is the core business of BUWOG Group. BUWOG AG shares have been listed at the stock exchanges in Frankfurt, Vienna, and Warsaw since the end of April 2014. ACTIVE IN EVERY ASPECT OF CONSTRUCTION AND HOUSING – we use our wide-ranging, long-standing expertise as a solid basis in serving our customers every day. Awards in project development, sustainability, and the financial markets stand witness to the successful activity of the BUWOG Group, both in real estate and on the capital markets, and showcase the capability, commitment, and professionalism shared by more than seven hundred employees. We focus on the three largest German-speaking cities of Berlin, Hamburg, and Vienna, and see great importance in the positive synergy effects of networking our three business divisions. WE AIM TOWARDS INNOVATIVE state-of-the-art housing quality in developing all our residential projects from planning through to manage ment, as it forms the basis for the essential purpose: living satisfaction. ×

EHL IMMOBILIEN EHL IMMOBILIEN was founded in 1991, and has come to be one of Austria’s leading residential property service suppliers specialising in res idential, commercial, and investment properties. Our range of services extends from estate agency services and property valuation to property and construction administration; asset, centre and portfolio manage ment; and market research and investment banking. EHL IMMOBILIEN ARRANGED tenancy, sale and investment transac tions for 970 residential units and approximately 46,000 m² of office space amounting to a total transaction volume of around 1.6 billion euros in 2017. The rapidly growing property valuation segment has an annual volume of more than 11 billion euros; in addition, EHL manages properties in various asset classes at a total floor space of around 1.85 million square metres. Partnership with the Savills global real estate company has secured a global network for EHL. OUR RESPONSIBLE RELATIONSHIPS WITH CUSTOMERS and partners have been confirmed in several awards. Six EHL executives have been awarded a total of eight CÄSAR awards for outstanding achievements in property by the Fachverband der Immobilien- und Vermögenstreuhän der national property and asset administration association in the WKO Aus trian Economic Chambers. In addition, EHL has been conferred the IMMY Award eight times – this is the definitive quality award amongst Viennese real estate agents. EHL WAS THE FIRST AUSTRIAN COMPANY to be certified ac cording to the European EN 15733 2011 standard for estate agents. As a founding member of ÖGNI, we act according to social interests in harmony with environmental, economic, and social factors. EHL Immobilien Manage ment has been a member of the EHL Group since 2014, and was certified for property management according to ISO 9001 in 2017. This ensures maximum quality standards and transparency towards our customers and partners. ×

BUWOG Group

EHL Immobilien

First Vienna Residential Market Report | 2018

HOUSING MARKET

OWNERSHIP STRUCTURE IN 2017

AROUND 900,000 APARTMENTS IN VIENNA count as inhabited, with around 75% of households living in rented accommodation – an extraordinary housing market compared to the other eight Austrian federal states. Of these 700,000 or so rented apartments, around 400,400 are owned by the City of Vienna or non-profit housing associations. People

living in owner-occupied apartments occupy a roughly equal share in Vienna and Austria; this share is rather low compared to other forms of housing, while still remaining largely stable. Naturally, most Austrians prefer to live in single-family homes, and this is the main household form across the country – as opposed to Vienna, where this share of households is very low. ×

HOUSING STOCK 2017

VIENNA

AUSTRIA

approx. 910,000 *

approx. 3,875,000 *

TOTAL PRIMARY RESIDENCES

ABSOLUTE FIGURES 54,600

ABSOLUTE FIGURES

OWNERSHIP

1,472,500 426,250 1,627,500 697,500 310,000 620,000 348,750

HOUSE OWNER-OCCUPIERS

118,300 700,700 300,300 218,400 182,000 36,400

APARTMENT OWNER-OCCUPIERS

MAIN TENANTS (COLLECTIVE)

PRIVATE INDIVIDUALS AND LEGAL ENTITIES

PUBLIC CORPORATIONS

NOT-FOR-PROFIT HOUSING COOPERATIVES

SUBLEASES AND OTHER LEASE ARRANGEMENTS

* Source: Statistics Austria (new extrapolation method as of the 2014 Microcensus), own calculations

First Vienna Residential Market Report | 2018

HOUSING MARKET

DEMOGRAPHICS OF AUSTRIA

HOUSEHOLDS IN AUSTRIA

AS AT JANUARY 1, 2017, Austria was home to 8,772,865 people, of whom 5,429,623 were between 20 and 64 years old. According to the latest forecasts, the population of Austria is expected to reach the 9 million mark in 2022. ×

THE AVERAGE HOUSEHOLD SIZE of the around 3,865,000 private households in Austria was 2.22 people in 2016. The trend towards small households continues, with the figure being similar to that of 2015. In 1985, the average household size was 2.67, while experts predict that this figure will drop to 2.08 by 2080. ×

DEMOGRAPHIC OUTLOOK FOR AUSTRIA

AGE PROFILE OF POPULATION AS AT JANUARY 1, 2017

PRIVATE HOUSEHOLDS FORECAST FOR SINGLE AND MULTIPLE-PERSON HOUSEHOLDS IN AUSTRIA

2016 TO 2070

2015 TO 2080

8,739,806

9,869,542

Households in %

Population

1,717,725

0 – 19 YEARS

0 10 20 30 40 50 60 70 80

10,000,000

62.81%

1,625,517

> 65 YEARS

58.15%

8,000,000

6,000,000

41.85%

37.19%

4,000,000

5,429,623

20 – 64 YEARS

2,000,000

SINGLE-PERSON HOUSEHOLDS MULTIPLE-PERSON HOUSEHOLDS

Year

2070 2065 2060 2055 2050 2045 2040 2035 2030 2025 2020 2015 2010 2005 2000

2015

2080

FORECAST

→→ Nine million people will be living in Austria by 2022. →→ By 2070, the population of Austria is expected to rise to 9,869,542 people. →→ This corresponds to an increase of nearly 13% from 2016 to 2070.

→→ The number of single-person households is still growing rapidly. →→ From 2015 to 2080, the number of single-person households is expected to increase by 38.44% (from 1,413,285 to 1,956,656). →→ Over the same time period, the number of private households with more than one person is expected to rise by only 13.88% (from 2,387,037 to 2,718,522). →→ From 2015 to 2080 the total number of private households is expected to rise by almost 23.02% (from 3,800,322 to 4,675,189). →→ The predicted average household size for 2080 is around 2.08 persons.

→→ By 2070, around 28.5% of the population will be 65 years or over, up from 18.5% in 2016. →→ The number of people living in Austria below the age of 20 will continue to drop gradually, from 19.6% in 2016 to 19.0% by 2070. →→ At the start of 2017, the average age of the people living in Austria was 42.5 years.

First Vienna Residential Market Report | 2018

HOUSING MARKET

DEMOGRAPHICS OF VIENNA

HOUSEHOLDS IN VIENNA

AS AT JANUARY 1, 2017, the population of Vienna was 1,867,582. Of these, 308,687 people were older than 65, and 359,985 were younger than 20 years of age. Current forecasts predict that the population of the capital will reach the 2 million mark in 2025. ×

VIENNA HAD AROUND 901,900 HOUSEHOLDS with an average household size of just 2.01 persons in 2016. The households in Vienna account for just below a quarter of all households in Austria. ×

DEMOGRAPHIC OUTLOOK FOR VIENNA

AGE PROFILE OF POPULATION AS AT JANUARY 1, 2017

PRIVATE HOUSEHOLDS FORECAST FOR SINGLE AND MULTIPLE-PERSON HOUSEHOLDS IN VIENNA

2016 TO 2070

1,853,140

2,238,539

2015 TO 2080

Households in %

Population

359,985

0 – 19 YEARS

2,000,000

54.62%

52.88%

47.12%

45.38%

308,687

> 65 YEARS

1,750,000

1,198,910

20 – 64 YEARS

1,500,000

SINGLE-PERSON HOUSEHOLDS MULTIPLE-PERSON HOUSEHOLDS

Year

1,250,000

1985

1995

2005

2015

2030

2040

2050

2060

2070

2015

2080

FORECAST

→→ Between 2015 and 2080, the number of single-person households will increase by more than 32.19% (from 402,499 to 532,052). →→ Over the same period, the number of multiple-person households is expected to rise by more than 22.18% (from 484,599 to 592,078). →→ From 2015 to 2080, the number of private households will increase by more than 27.28% (from 887,098 to 1,129,130). →→ It is expected that there will be more than 1 million households in Vienna by 2030. →→ The predicted average household size for 2080 is 1.95 persons.

→→ By 2025, Vienna will have a population of more than 2 million. →→ By 2070, the population of the city is expected to reach 2,238,539. →→ This corresponds to an increase of nearly 21% from 2016 to 2070.

→→ By 2070, around 23.4% of the city‘s population will be 65 years or over, up from 16.6%. →→ The number of people in Vienna below the age of 20 will increase only gradually, from 19.2% today to 20.0% by 2070. →→ On January 1, 2017, the average age in Vienna was 40.3 years (41.7 for women and 38.8 for men).

First Vienna Residential Market Report | 2018

SOCIAL DEVELOPMENT

FUTURE RESEARCH

THE SINUS- MILIEUS ®

SINUS-MILIEUS ® CONSTITUTE a model that groups people according to their basic attitudes and lifestyles. Sinus Milieu groups differ with regard to their consumer behaviour, lifestyle, and living environment. The illustra tion shows the current milieu landscape as well as the positions of the different milieus in Austrian society. Further details on Sinus- Milieus ® are given on page 75.

LIVING IN THE WORLD OF TOMORROW THE FUTURE OF HOUSING IS VERSATILE, FLEXIBLE AND INDIVIDUAL

1) UPPER CLASS / UPPER MIDDLE- CLASS

High Achievers

Established

Conservatives

Digital Individualists

Postmaterialists

2) MIDDLE, MIDDLE-CLASS

New Middle Class

Adaptive- Pragmatists

Traditionals

Neighbourhood quality and the amount of shared space available will play decisive roles. This might be a community kitchen, a library on the ground floor, or a gym for the residents in an apartment block. Is there a co-working space available? Does the residents’ community do co-gardening? Gradually hiving off living comfort into the public and semi-public domain is not only an effective economic step, but also a necessity for social communications. Single households are increasing in numbers at a share of more than fifty percent in some cities. We will become an increasingly lonely society if we don’t share.

Which particular target groups merit particular consideration in the future?

Escapists

3) LOWER MIDDLE- CLASS / LOWER CLASS

Consumption Oriented

TWO GROUPS WILL BE ALTERING the face of housing especially heavily in the future: the famous Generation Y and the “young at heart”. Members of Generation Y have grown up in a digital, networked, globalised world, and have been the main drivers of new social sharing forms that already exist in major cities today – co-working, co-living, co-gardening. This began with the fundamental concept of a sharing economy based on digital networking supported by the principle of “using instead of owning”. Homes and neighbourhoods provide child care, elderly care, and community gardens through intelligent utilisation in apartment blocks and residential estates. The future living environ ment will be a heterogeneous mix of different groups of individuals with freely formed family structures. In particular, this also applies to the growing group of the “young at heart”.

Basic Orientation

C) RE-ORIENTATION

B) MODERNISATION Individualisation, Self-actualisation, Pleasure

A) TRADITION Sense of Duty and Order

Multi-options, Pragmatism

Re-focussing, new syntheses

TRADITIONAL MILIEUS

What will be the challenges for the housing of tomorrow?

MAJOR CHALLENGES in the coming decades will be population growth, progressive ageing, and growing urbanisation, together with an increasing variety of ways of living. Cities cannot grow in height and width to an infinite degree, but the way we use buildings will change: hybridity, heterogeneity, and flexibility will be the major construction trends in the coming years. Cities will need relief for them to be liveable again, and this will be most effective when living in the outskirts gains attractiveness. A variety of mobility options promising a high level of quality service will ensure this, options such as self-driving minibuses in public transport, car sharing, and carpooling. ×

What will the apartment of tomorrow be like?

THE FUTURE WILL SEE US talking more about living rather than housing. We live in ever increasingly crowded cities with growing pres sure on prices and quality housing; we will need to rethink our functional relationship with housing, not only our emotional relationship with it. The drive towards more floor area will diminish in favour of shared spaces.

CONSERVATIVES

TRADITIONALS

Trendsetters in the traditional sphere with high ethics of respon- sibility – strongly characterised by Christian ethics, high estima- tion of education and culture, sceptical towards current social development. Home is an expression of upper or middle-class lifestyle in clear distinction from current attitudes. Members of this group adhere to traditional, dignified interior design styles as reflected in a keen sense of style.

Emphasis on security, order and stability – rooted in the old petty-bourgeois world, in the traditional blue-collar culture, or in the rural milieu. Home tastes are based on traditional cosiness and rural aesthetics with conventional furnishings and fittings prevailing.

Christiane Varga Housing trend researcher & freelance writer at the Vienna Zukunftsinstitut institute of future studies

First Vienna Residential Market Report | 2018

UPPER CLASS

THE NEW CENTRE

ESTABLISHED

POSTMATERIALISTS

NEW MIDDLE CLASS

ADAPTIVE-PRAGMATISTS

The performance-oriented elite with a strong anchorage in tradition – strongly focused on status, exclusiveness, responsibility, and leadership. Furnishings often skilfully combine tradition and modernity with a keen sense of style, placing value on outward appearance expressing distinction and connoisseurship.

Open-minded social critics – intellectual, educated milieu, interested in variegated aspects of culture; cosmopolitan orientation, but critical towards globalisation; socially commited. Home styles are dominated by a sense of nature and authenticity while eschewing ostentatious- ness and excess. Distinction from the mainstream and conventionalism plays a crucial role in this social group.

The adaptive mainstream– seeking professional and social establishment, secure and harmonic circumstances, support and orientation, peace and a slow pace. Members of this group prefer conventional or neo-rustic aesthetics in a friendly, yet dignified outward appearance without stylistic extravagance; order and cleanliness are paramount.

The young pragmatic middle stratum – pronounced life- pragmatism, strong desire for anchorage, membership, security, performance orientation, but also the wish for fun and entertainment. The prevailing lifestyle is either trendy or quiet and down-to-earth, practical and expedient.

THE MODERN LOWER CLASS

HIGH ACHIEVERS

DIGITAL INDIVIDUALISTS

CONSUMPTION ORIENTED

ESCAPISTS

The flexible and globally oriented performance elite – individual performance, efficiency, and success take top priority; competent in business and IT. Home styles reflect a penchant for open, spacious interior designs with a view to outward appearance and making a statement in a lifestyle reflecting contemporary attitudes.

The individualistic, networking, digital avant-garde – men- tally and geographically mobile, cross-linked online and offline, permanently looking for new experiences. The home is creatively designed with deliberately unconventio- nal highlights while integrating elements reflecting a sense of ironic conventionalism to showcase non-conformism.

The materialistic lower class striving for participation – sense of discrimination, resentments, and pronounced fears of the future; striving to stay connected with the consumption standards of the middle class. This group displays a yearning for wealth, luxury, and prestige, often with demonstrative shows of modern technology in an attempt to showcase an intact middle-class home.

The modern lower middle class, living for the excitement of the moment – seeking fun and amusement; rejection of traditional standards and conventions. The aesthetic of heavy stimuli dominates with a zest for provocation and challenging taboos. Convenience plays a major role – everything within easy reach for an easy-going life.

First Vienna Residential Market Report | 2018

DISTRICTS OF VIENNA

THE TABLE contains all key data and facts regarding population, income, property prices, and rents. The quoted prices are not asking or advertised prices but the prices per m 2 that were actually paid upon signing of the contract.

THE SECTIONS BELOW provide more detailed information on the individual districts, including key demographic data, statistics, and special features within the districts. ×

VIENNA AT A GLANCE

SALE PRICES ON CONCLUSION

RENTS ON CONCLUSION

DISTRICTS

RESIDENTS INCOME *

THE MAP OF VIENNA provides an overview of the city districts. For better orientation, the map also shows underground metro lines and major roads/motorways. Metro lines that are planned or currently under construction are shown as broken lines. ×

FIRST OCCUPANCY

n/a ** € 11.80 € 12.20 € 13.00 € 11.70 € 13.00 € 13.00 € 13.00 € 12.80 € 10.70 € 9.70 € 11.00 € 12.80 € 11.00 € 10.90 € 10.90 € 10.90 € 12.60 € 13.00 € 10.50 € 10.60 € 10.70 € 10.50 FIRST OCCUPANCY

OTHER

16,465 105,003 90,183 33,035 55,356 31,865 32,197 25,528 42,709 198,083 100,137 95,955 54,171 92,337 78,999 104,323 57,18 0 51,128 72,107 86,868 158,712 184,18 8 101,053

€ 34,748 € 21,177 € 24,267 € 24,719 € 19,794 € 23,150 € 24,327 € 24,523 € 23,720 € 19,047 € 20,375 € 19,780 € 29,402 € 23,520 € 17,528 € 19,702 € 20,936 € 25,137 € 26,607 € 18 ,515 € 22,330 € 24,213 € 25,257

€ 18,600 € 5,100 € 5,150 € 5,300 € 4,450 € 5,100 € 5,700 € 6,000 € 5,700 € 3,800 € 3,200 € 3,900 € 5,500 € 4,100 € 3,750 € 3,900 € 4,000 € 5,500 € 6,000 € 3,800 € 3,700 € 3,800 € 3,750

€ 11,200 € 3,600 € 3,600 € 3,800 € 3,500 € 3,650 € 4,400 € 4,400 € 4,100 € 2,500 € 2,100 € 2,900 € 3,950 € 3,000 € 2,700 € 2,700 € 2,800 € 3,650 € 3,950 € 2,500 € 2,550 € 2,550 € 2,750

n/a ** € 10.00 € 10.70 € 11.00 € 10.40 € 11.00 € 11.00 € 11.30 € 11.10 € 9.00 € 8.70 € 9.80 € 10.80 € 10.20 € 9.90 € 9.90 € 9.90 € 10.70 € 10.90 € 9.60 € 9.60 € 9.60 € 9.70

1010 VIENNA · INNERE STADT

1020 VIENNA · LEOPOLDSTADT

1030 VIENNA · LANDSTRASSE

PLANNED EXTENSION OF U2 METRO LINE PLANNED EXTENSION OF U5 METRO LINE CURRENT U2 METRO LINE, TO BECOME PART OF U5 METRO LINE

1040 VIENNA · WIEDEN

1050 VIENNA · MARGARETEN

1060 VIENNA · MARIAHILF

21.

A22

U Leopoldau

1070 VIENNA · NEUBAU

1080 VIENNA · JOSEFSTADT

19.

U Floridsdorf

1090 VIENNA · ALSERGRUND

U Heiligenstadt

1100 VIENNA · FAVORITEN

20.

1110 VIENNA · SIMMERING

18.

U Spittelau

17.

1120 VIENNA · MEIDLING

14.

U Seestadt

16.

1130 VIENNA · HIETZING

U Elterleinplatz ** U Ottakring

1140 VIENNA · PENZING

22.

U Stephansplatz

1150 VIENNA · RUDOLFSHEIM

6. 7.

U Karlsplatz

1160 VIENNA · OTTAKRING

U Westbahnhof

U Hütteldorf

15.

1170 VIENNA · HERNALS

1180 VIENNA · WÄHRING

13.

1190 VIENNA · DÖBLING

12.

U Simmering

U Wienerberg **

1200 VIENNA · BRIGITTENAU

11.

1210 VIENNA · FLORIDSDORF

10.

1220 VIENNA · DONAUSTADT

23.

U Oberlaa

1230 VIENNA · LIESING

A23

U Siebenhirten

* Source: Statistics Austria, wage tax statistics for 2016, average annual net income for employees in total, in euros, valid as of December 2017 ** T he report assumes residential rents that are not subject to the full scope of the Austrian Tenancy Act. The sample from the First District was too small to deliver any valid information, and has been omitted in the rent levels statistic.

VIENNA AIRPORT

** Planned extension

A21

First Vienna Residential Market Report | 2018

1010 INNERE STADT T HE FIRST DISTRICT is seen as the historic, commercial, and administrative centre of Vienna. Districts Two to Nine, the for mer “suburbs“, are grouped around the First District. The former city wall was replaced by the Ringstraße ring road, a grand boulevard, in

THE CITY CENTRE

the mid-nineteenth century. The 150-year anniversary of Ringstraße was celebrated in 2015. Downtown Vienna still has the charm of yesteryear in some areas, but tourist magnets such as Stephansplatz and Herrengasse have seen a redesign. ×

Schottenring 18 / EHL Immobilien

HOUSING FACTS

USAGE

16,465 8,905 1.89

RESIDENTS 2017

SPECIAL FEATURES OF DISTRICT

MAIN RESIDENCES

49.4% BUILT-UP 40.0% TRAFFIC 10.6% G REEN INCL.

PERSONS/HOUSEHOLD 2017

U Schottenring

WATER BODIES

+ 1,956 – 1,869 + 87

MOVED IN MOVED OUT MIGRATION BALANCE

U Schottentor

LIVING IN THE HEART OF VIENNA

The First District is booming with demand for housing in the city centre at an unmitigated high. This year will see a variety of new projects leading to corresponding availability. New development projects such as Palais Schottenring Vienna, Börseplatz 1, luxury apartments in Palais Kinsky, and the soon to be redesigned Post Palais are mainly located along Ringstraße. Downtown hot spots include Herrengasse, Graben, and Goldenes U (Golden U).

U Schwedenplatz

Tuch lauben

Franz-Josefs-Kai

Herren- gasse

Rotenturmstraße

U Rathaus

DEMOGRAPHIC FACTS

U Herrengasse

Graben

U Stephansplatz

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

U Stubentor

VIENNA 28.6%

Kärntner Straße

U Volkstheater

25 – 64 YEARS 15 – 24 YEARS 6 – 14 YEARS 0 – 5 YEARS > 65 YEARS

968 783

-4.1%

INNERE STADT 24.5%

U Stadtpark

9,030 1,536 4,148

U Museumsquartier

AVERAGE INCOME *

€ 34,748

INNERE STADT

U Karlsplatz

AGE

€ 22,173

VIENNA

46.3 YEARS

HOT SPOTS

SINUS-MILIEUS ®

Established High Achievers

Mostly the Established and High Achievers live here. The Established enjoy the good reputation of their neighbourhood and appreciate the cultural offer, while High Achievers feel especially comfortable in this cosmopolitan environment and its proximity to trendy pubs and restaurants.

Con- servatives

HOUSING COSTS (PRICE/m 2 ) OWNER-OCCUPIED FIRST OCCUPANCY OTHER

RENTED FIRST OCCUPANCY OTHER

Digital Individu- alists

�� n/a* *

Postmaterialists

�� n/a* *

New Middle Class

Adaptive- Pragmatists

�� € 18,600 / m 2

Traditionals

�� € 11,200 / m 2

INVESTMENT PROPERTY

�� € 4,000 to € 9,250 / m 2

Escapists

Consumption Oriented

In this district, 123 changes of ownership were registered in the land registry in 2017, with a total sales value of approx. € 183 million.

Basic Orientation

First Vienna Residential Market Report | 2018

THE ISLAND 1020 LEOPOLDSTADT N AMED AFTER EMPEROR LEOPOLD I, Leopoldstadt is located between the Donaukanal (Danube Canal) and the Danube, creating an island, together with the Twentieth District. The district used to have areas prone to flooding, dams, and canals; today, the main topology consists of densely

developed urban neighbourhoods interspersed with extensive green spaces. In addition to the Prater, the Augarten in particular provides one of the oldest and most culturally important baroque gardens of the city with 52.2 hectares and extensive recreational facilities. ×

Vorgartenstraße 98 / BUWOG Group

HOUSING FACTS

USAGE

105,003 51,792 2.05

RESIDENTS 2017

SPECIAL FEATURES OF DISTRICT

MAIN RESIDENCES

22.8% BUILT-UP 20.9% TRAFFIC 56.3% G REEN INCL.

PERSONS/HOUSEHOLD 2017

WATER BODIES

+ 15,591 – 14,242 + 1,349

MOVED IN MOVED OUT MIGRATION BALANCE

LEOPOLDSTADT GAINING URBANITY

Augarten

The Second District features a central location close to the adjoining First District. The large urban development area around the Nord bahnhof railway station and Prater (university campus and trade fair ground) and Lassallestraße have developed positively, as did the popular neighbourhoods Stuwerviertel, Karmeliterviertel, and the Augarten area in previous years.

Karme liter- viertel

Nord- bahnhof

U Praterstern

U Schottenring

DEMOGRAPHIC FACTS

Stuwer- viertel

WU- Campus/ Messe

U Stadion

U Schwedenplatz

Handelskai

Hauptallee

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

U Donaumarina

VIENNA 28.6%

8,664 6,996

25 – 64 YEARS 15 – 24 YEARS 6 – 14 YEARS 0 – 5 YEARS > 65 YEARS

Praterkai

+4.9%

LEOPOLDSTADT 33.5%

60,450 13,496 15,397

AVERAGE INCOME *

€ 21,177

LEOPOLDSTADT

AGE

€ 22,173

VIENNA

HOT SPOTS

38.9 YEARS

SINUS-MILIEUS ®

Established High Achievers

The Consumption Oriented are especially at home in Leopoldstadt; the people in this group prefer relatively affordable residential areas with traditional pub culture. Nearby shopping and entertainment opportunities for a small budget make for an interesting and varied district.

Con- servatives

HOUSING COSTS (PRICE/m 2 ) OWNER-OCCUPIED FIRST OCCUPANCY OTHER

RENTED FIRST OCCUPANCY OTHER

Digital Individu- alists

�� € 11.80 / m 2

Postmaterialists

�� € 10.00 / m 2

New Middle Class

Adaptive- Pragmatists

�� € 5,100 / m 2

Traditionals

�� € 3,600 / m 2

INVESTMENT PROPERTY

�� € 1,450 to € 3,250 / m 2

Escapists

Consumption Oriented

In this district, 696 changes of ownership were registered in the land registry in 2017, with a total sales value of approx. € 174 million.

Basic Orientation

First Vienna Residential Market Report | 2018

THREE TIMES AS GOOD 1030 LANDSTRASSE T HE FIRST CITY EXPANSION in 1850 saw the suburbs Erdberg, Landstraße und Weißgerber merge into the Third Dis trict. Landstraße now counts as an extension to the city centre with Rochusmarkt as the district’s own bustling focal point. Even so, the district is full of stark contrasts from the venerable Viennese working-class neighbourhoods to the elegant Embassy Quarter and vibrant shopping streets up to St. Marx, a newly developed centre for research, media, and housing. ×

Schnirchgasse 9 – 9A / EHL Immobilien

HOUSING FACTS

USAGE

90,183 46,217 1.97

RESIDENTS 2017

SPECIAL FEATURES OF DISTRICT

MAIN RESIDENCES

55.7% BUILT-UP 29.3% TRAFFIC 15.0% G REEN INCL.

PERSONS/HOUSEHOLD 2017

Weißgerberlände

U Landstraße

WATER BODIES

+ 12,624 – 12,431 + 193

MOVED IN MOVED OUT MIGRATION BALANCE

AROUND ROCHUSMARKT

Stadtpark

U Stadtpark

U Rochusgasse

The Third District benefits from its central location, Belvedere, and Rochusmarkt, a popular place amongst the Viennese. Landstraße is currently under heavy development as reflected in the ever-increasing demand. New residential projects in development near the city park include The Ambassy and Am Heumarkt 25 as well as TrIIIple, Landyard, and Ensemble along Erdberger Lände and Donaukanal, the Aspanggründe-Eurogate urban development area and MGC Plaza near St. Marx.

Rochus- markt

U Kardinal-Nagl-Platz

Erd- berger Lände

Landstraßer Hauptstraße

DEMOGRAPHIC FACTS

Rennweg

U Schlachthausgasse

U Erdberg

Rennweg

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

Eurogate

VIENNA 28.6%

St. Marx

53,474 10,608 6,403 5,008 14,690

25 – 64 YEARS 15 – 24 YEARS 6 – 14 YEARS 0 – 5 YEARS > 65 YEARS

Quartier Belvedere

+ 1.4%

Landstraßer Gürtel

LANDSTRASSE 30.0%

U Gasometer

AVERAGE INCOME *

€ 24,267

LANDSTRASSE

AGE

€ 22,173

VIENNA

40.8 YEARS

HOT SPOTS

SINUS-MILIEUS ®

Established High Achievers

The diversity of the district is reflected in the diversity of its inhabitants, where Postmaterialists and High Achievers feel especially comfortable with the cultural attractions and green areas appealing to Postmaterialists, and the attrac tive bar and restaurant scene attracting High Achievers.

Con- servatives

HOUSING COSTS (PRICE/m 2 ) OWNER-OCCUPIED FIRST OCCUPANCY OTHER

RENTED FIRST OCCUPANCY OTHER

Digital Individu- alists

�� € 12.20 / m 2

Postmaterialists

�� € 10.70 / m 2

New Middle Class

Adaptive- Pragmatists

�� € 5,150 / m 2

Traditionals

�� € 3,600 / m 2

INVESTMENT PROPERTY

�� € 1,700 to € 3,750 / m 2

Escapists

Consumption Oriented

In this district, 1,079 changes of ownership were registered in the land registry in 2017, with a total sales value of approx. € 305 million.

Basic Orientation

First Vienna Residential Market Report | 2018

“ON WIEDEN” 1040 WIEDEN W IEDEN BOASTS A HISTORY GOING back centuries, and is currently one of the most urbane districts of Vienna. The districts Margareten and Favoriten developed from it around a century and a half ago. Even with the Fourth District ’s dense settlement and the paucity of green areas, the district still offers

everything anyone could wish for in the way of cultural highlights, including Otto Wagner Pavillon, RadioKulturhaus, and Wien Museum. Karlsplatz is not only a hub for the city’s metro system, it is also home to Vienna University of Technology and the Karlskirche Church of St. Charles. ×

Wohllebengasse 6 / EHL Immobilien

HOUSING FACTS

USAGE

33,035 17,061 1.93

RESIDENTS 2017

SPECIAL FEATURES OF DISTRICT

MAIN RESIDENCES

HOT SPOTS

64.4% BUILT-UP 25.6% TRAFFIC 10.0% G REEN INCL.

PERSONS/HOUSEHOLD 2017

WATER BODIES

+ 5,432 – 5,214 + 218

MOVED IN MOVED OUT MIGRATION BALANCE

U Karlsplatz

LIVING IN THE EMBASSY QUARTER

Frei- haus- viertel

The Fourth District’s proximity to the inner city and good links to the new Hauptbahnhof main railway station have stoked demand for the district. Apart from the most popular hot spot, Freihausviertel, the area around the new main railway station and Südtiroler Platz have gained in attractiveness. Luxurious individual projects aimed at more well-healed clients are in development in the revitalised Palais and the hidden courtyards along Argentinierstraße.

Argen- tinier- straße

Prinz-Eugen-Straße

DEMOGRAPHIC FACTS

U Taubstummengasse

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

VIENNA 28.6%

19,565 4,079 2,172 1,634 5,585

25 – 64 YEARS 15 – 24 YEARS 6 – 14 YEARS 0 – 5 YEARS > 65 YEARS

Favoritenstraße

+2.4%

WIEDEN 31.0%

Süd- tiroler Platz

U Südtiroler Platz

AVERAGE INCOME *

Hauptbahnhof

€ 24,719

WIEDEN

AGE

€ 22,173

VIENNA

41.3 YEARS

SINUS-MILIEUS ®

Established High Achievers

Postmaterialists and High Achievers in particular live in Wieden. Postmaterialists appreciate the proximity to edu- cational institutions and good network of cycle paths, while High Achievers enjoy the prestigious residential environment, the varied restaurants and cafés, and the district’s central location.

Con- servatives

HOUSING COSTS (PRICE/m 2 ) OWNER-OCCUPIED FIRST OCCUPANCY OTHER

RENTED FIRST OCCUPANCY OTHER

Digital Individu- alists

�� € 13.00 / m 2

Postmaterialists

�� € 11.00 / m 2

New Middle Class

Adaptive- Pragmatists

�� € 5,300 / m 2

Traditionals

�� € 3,800 / m 2

INVESTMENT PROPERTY

�� € 1,900 to € 3,800 / m 2

Escapists

Consumption Oriented

In this district, 243 changes of ownership were registered in the land registry in 2017, with a total sales value of approx. € 112 million.

Basic Orientation

First Vienna Residential Market Report | 2018

INTERNAL DIVERSITY 1050 MARGARETEN K NOWN AS A FORMER WORKING-CLASS DISTRICT, Margareten has become a hip area with plenty of start- ups. However, this is the only district within the Vienna Beltway (“Gürtel”) that does not adjoin the inner city. Margareten may be one

of the districts with the highest population density, but it does have a number of parks and green spaces. The coming years will see the U2 metro line extended, improving public transport network services in the district. ×

Siebenbrunnengasse 19–21 / EHL Immobilien

HOUSING FACTS

USAGE

55,356 29,156 1.92

RESIDENTS 2017

SPECIAL FEATURES OF DISTRICT

MAIN RESIDENCES

HOT SPOTS

64.3% BUILT-UP 31.3% TRAFFIC 4.4% G REEN INCL.

PERSONS/HOUSEHOLD 2017

Nasch- markt

U Kettenbrückengasse

WATER BODIES

+ 8,882 – 8,703 + 179

MOVED IN MOVED OUT MIGRATION BALANCE

UPWARD TREND

Margareten benefits from the adjoining Naschmarkt and neighbour- hoods on Kettenbrückengasse and Margaretenplatz, and good public transport connections with the U4 metro line. Extending the U2 metro line has increased demand around Matzleinsdorfer Platz as well. A larger housing project in the development phase on Siebenbrunnen- gasse is due to be completed in 2020.

U Pilgramgasse

Margare- tenplatz

DEMOGRAPHIC FACTS

U Margartengürtel

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

VIENNA 28.6%

Wiedner Hauptstraße

34,170 6,851 3,614 3,103 7,618

25 – 64 YEARS 15 – 24 YEARS 6 – 14 YEARS 0 – 5 YEARS > 65 YEARS

Reinprechtsdorfer Straße

MARGARETEN 36.0% +7.4%

AVERAGE INCOME *

€ 19,794

MARGARETEN

Matzleinsdorfer Platz

AGE

€ 22,173

VIENNA

39.3 YEARS

SINUS-MILIEUS ®

Established High Achievers

The affordable residential area close to the Vienna Beltway (“Gürtel”) mainly appeals to Escapists and offers attractive student apartments for Digital Individualists, who appreciate the cultural diversity as well as the trendy bar scene with its cult pubs, while Escapists are attracted to the alternative arts scene.

Con- servatives

HOUSING COSTS (PRICE/m 2 ) OWNER-OCCUPIED FIRST OCCUPANCY OTHER

RENTED FIRST OCCUPANCY OTHER

Digital Individu- alists

�� € 11.70 / m 2

Postmaterialists

�� € 10.40 / m 2

New Middle Class

Adaptive- Pragmatists

�� € 4,450 / m 2

Traditionals

�� € 3,500 / m 2

INVESTMENT PROPERTY

�� € 1,500 to € 2,700 / m 2

Escapists

Consumption Oriented

In this district, 419 changes of ownership were registered in the land registry in 2017, with a total sales value of approx. € 108 million.

Basic Orientation

First Vienna Residential Market Report | 2018

ENJOYABLE LIVING 1060 MARIAHILF A T AN AREA OF 1.48 SQUARE KILOMETRES, Maria hilf is the second smallest district in Vienna. Even so, Mariahilf has a lot to offer for residents: apart from its proximity

dorfer Straße. The district’s highlight is Naschmarkt: the largest deli market in the city is a permanent fixture for locals and visitors looking to enjoy national and international delicacies. A landmark in Mariahilf, the former anti-aircraft tower is now home to the Haus des Meeres aqua- terra zoo. ×

Liniengasse 36 / EHL Immobilien

to downtown and good public transport links, the district is home to exten sive shopping opportunities on Mariahilfer Straße and around Gumpen

HOUSING FACTS

USAGE

31,865 16,831 1.89

RESIDENTS 2017

SPECIAL FEATURES OF DISTRICT

MAIN RESIDENCES

66.0% BUILT-UP 30.1% TRAFFIC 3.9% G REEN INCL.

PERSONS/HOUSEHOLD 2017

HOT SPOTS

U Museumsquartier

WATER BODIES

+ 5,228 – 5,063 + 165

MOVED IN MOVED OUT MIGRATION BALANCE

Getreide- markt

MANY ROADS LEAD TO MARIAHILF

Mariahilfer Straße

U Neubaugasse

Maria- hilfer Straße

The reconstructed Mariahilfer Straße seems to be developing well after initial teething troubles. Residents and the local scene alike benefit from traffic calming installed on and around Mariahilfer Straße. The planned extension to the U2 and U5 metro lines will further enhance the district’s attractiveness as reflected in demand along Gumpen dorfer Straße and around Haus des Meeres up to Getreidemarkt.

Gumpen- dorfer Straße

Nasch- markt

U Zieglergasse

Mariahilfer Straße

Gumpendorfer Straße

U Kettenbrückengasse

DEMOGRAPHIC FACTS

U Westbahnhof

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

VIENNA 28.6%

U Pilgramgasse

19,989 3,868 1,780 1,473 4,755

25 – 64 YEARS 15 – 24 YEARS 6 – 14 YEARS 0 – 5 YEARS > 65 YEARS

+0.1%

MARIAHILF 28.7%

U Gumpendorfer Straße

AVERAGE INCOME *

U Margartengürtel

€ 23,150

MARIAHILF

AGE

€ 22,173

VIENNA

40.6 YEARS

SINUS-MILIEUS ®

Established High Achievers

High Achievers and Postmaterialists live in above-average numbers in this district. Postmaterialists appreciate the high proportion of cycle paths and pedestrian precincts, while High Achievers are attracted to the lifestyle flair of Naschmarkt and especially the Mariahilfer Straße shopping mile with its long opening hours.

Con- servatives

HOUSING COSTS (PRICE/m 2 ) OWNER-OCCUPIED FIRST OCCUPANCY OTHER

RENTED FIRST OCCUPANCY OTHER

Digital Individu- alists

�� € 13.00 / m 2

Postmaterialists

�� € 11.00 / m 2

New Middle Class

Adaptive- Pragmatists

�� € 5,100 / m 2

Traditionals

�� € 3,650 / m 2

INVESTMENT PROPERTY

�� € 1,800 to € 3,800 / m 2

Escapists

Consumption Oriented

In this district, 250 changes of ownership were registered in the land registry in 2017, with a total sales value of approx. € 82 million.

Basic Orientation

First Vienna Residential Market Report | 2018

THE HIP DISTRICT 1070 NEUBAU T HE SEVENTH DISTRICT counts as the epicentre of the creative scene as reflected in the trendy pubs and shops set up by many young designers. The Museumsquartier museum quarter nestled in the former imperial stables has established its place

as a highly frequented cultural attraction. The district’s excellent public transport links and proximity to the university make the district particu larly attractive to students. The preserved Wilhelminian-style buildings dominate the district’s architecture. ×

Lindengasse 60 / BUWOG Group

HOUSING FACTS

USAGE

32,197 17,698 1.85

RESIDENTS 2017

SPECIAL FEATURES OF DISTRICT

MAIN RESIDENCES

72.6% BUILT-UP 25.1% TRAFFIC 2.3% G REEN INCL.

PERSONS/HOUSEHOLD 2017

WATER BODIES

+ 5,273 – 5,190 + 83

MOVED IN MOVED OUT MIGRATION BALANCE

U Thaliastraße

VIENNESE SOHO

The district is still highly popular amongst the creative scene and a youthful population with unbroken interest in new ideas and developments. The new residential high-rise project on the site of the former Kurier building located within walking distance from Mariahilfer Straße is the most interesting development. Hot spots encompass the highly frequented area around Museumsquartier, Spittelberg, and Neubaugasse.

U Volkstheater

Burggasse

Spittel berg

Muse- ums- quartier

DEMOGRAPHIC FACTS

Siebensterngasse

U Burggasse-Stadthalle

Neubau- gasse

FOREIGN NATIONALS

AGE PROFILE OF POPULATION

Mariahilfer Straße

VIENNA 28.6%

Schottenfeldgasse

20,528 3,811 1,810 1,600 4,448

25 – 64 YEARS 15 – 24 YEARS 6 – 14 YEARS 0 – 5 YEARS > 65 YEARS

U Neubaugasse

+0.4%

NEUBAU 29.0%

U Zieglergasse

U Westbahnhof

AVERAGE INCOME *

€ 24,327

NEUBAU

AGE

€ 22,173

VIENNA

HOT SPOTS

40.0 YEARS

SINUS-MILIEUS ®

Established High Achievers

The Seventh District mainly has three groups – Postmaterial- ists, High Achievers and Digital Individualists especially appre- ciate the cultural diversity of the district with everything from studios to restaurants and trendy bars. Digital Individualists set great store by Wilhelminian-style flats that make ideal flat-shares, and High Achievers enjoy the attractive loft conversions.

Con- servatives

HOUSING COSTS (PRICE/m 2 ) OWNER-OCCUPIED FIRST OCCUPANCY OTHER

RENTED FIRST OCCUPANCY OTHER

Digital Individu- alists

�� € 13.00 / m 2

Postmaterialists

�� € 11.00 / m 2

New Middle Class

Adaptive- Pragmatists

�� € 5,700 / m 2

Traditionals

�� € 4,400 / m 2

INVESTMENT PROPERTY

�� € 1,850 to € 3,900 / m 2

Escapists

Consumption Oriented

In this district, 219 changes of ownership were registered in the land registry in 2017, with a total sales value of approx. € 99 million.

Basic Orientation

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