Facts and Figures Vienna city centre
Selling space city
205,400 sqm
Sales space per resident
0.11 sqm 145 sqm
Ø Shop size
Share of retail chain branches
37.9 %
Vacancy rate
4.5 %
Fluctuation rate
13.2 %
Source: Standort + Markt 2021/22
© Johannes Brunnbauer
The Retail Market in Vienna
Asymmetrical developments
Discounters capture good locations
Developments in the Austrian capital city of Vienna reflected the difficult situation on the international and national markets. However, the negative effects on vacancy rates and rental prices differed by location and submarket. Prime locations have recorded the comparatively best performance. There has been an above- average return of space, even in the “Golden H“, but numerous interested firms plan to use the opportunity to settle in a top location – not necessarily at historically top prices, but still at very impressive square metre rents. In the luxury segment, the recovery of city tourism has had a positive effect – even if the increase was lower than hoped for due to the absence of Russian visitors.
At less prominent but nevertheless good locations, the structural change is moving in a different direc- tion. The traditionally strong textile branch is faced with shop closings and space reduction, also by the leading retail chains. They are increasingly being replaced by discounters which are no longer focused on low-cost locations – also in Vienna – and have be- come an integral part of the tenant mix. One typical example is the large “Action” shop which opened in the Bahnhofcity at the West Railway Station during August and took over the space vacated by two textile retail branches. Vacancy rates are rising at secondary locations in the districts close to the city centre – a normal happening in challenging market phases – but a growing number of interesting expansion opportunities have appeared
Retail space (in sqm) and vacancy rates (in %) in Vienna`s high streets
250,000
18 % 16 % 14 % 12 % 10 %
200,000
150,000
8,5 %
8,9 %
8 % 6 % 4 % 2 % 0 %
100,000
4,5 %
3,2 %
50,000
Innere Mariahilfer Str.
City
Landstraßer Hauptstraße
Favoritenstraße
Vacancies
Retail
Retail-related
Vacancy rate (in %)
Source:
2021/22
10
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