50,504
Completed flats vs. population growth
20,000
20,000
20,284
19,435
18,022
15,645
15,000
15,000
16,309
14,253
12,183
5,081
10,080
5,580
10,000
10,000
300
4,084
8,010
4,795
5,998
3,647
5,000
5,000
5,362
4,302
2,369
1,878
4,566
3,797
3,311
2,916
2,485
0
0
2022
2023
2024
2025*
2026**
Rent subsidised
Rent privately financed
Ownership
Source: EHL/Exploreal, 07 2025 | City of Vienna, 11 2023 *Forecast, **Currently known Fluctuation margin
Population growth
Residential value instead of square metres The positive development of the housing market is also reflected in the square metre prices for condominiums, a situa- tion that opens interesting opportunities for investors. The substantial gap in
residences that optimally meet the needs of the market and, in this way, emphasise the benefits and increase the attractive- ness of apartments in older buildings. Open spaces play a central role here. Pri- vate outside areas like a balcony or ter- race have become a key decision factor for many buyers. Above all in streets with reduced traffic and green areas, balco- nies are associated with high quality and comfort. Building permits for balconies are now easier to receive than in earlier years, at least outside particularly sensi- tive historical protected zones. Just as important but frequently ignored is the optimisation of the apartment layout. The room partitioning can also be
modified in Wilhelminian era buildings and, in many cases, relatively manage- able structural changes can produce a configuration that meets today’s housing demands. The combination or separation of several apartments also provides attractive opportunities for sale in many cases. The inclusion of these two points in the marketing strategy will make it virtually impossible to find an investment proper- ty with apartments that are impossible to sell at very favourable prices. Other factors like garage parking, new heating systems, elevators etc. are, as a rule, positively received by potential buyers but seldom the decisive factors for a purchase.
realisable square metre prices between entire properties and high-quality con- dominiums in investment properties has led many investors to search for suitable buildings with vacancies for their “reno- vate, separate and sell” business model. However, cost-intensive investments are generally required to produce the quality demanded by the market. A wide range of individual measures are, in fact, required and can be summarised under one basic principle: The goal is not to sell square metres but to develop
Vienna | 2025
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