Overview of Vienna’s Districts
15., Rudolfsheim-Fünfhaus
The investment property market in the 15th District was con- sidered an upcoming hot spot only three years ago but has since come to a virtual halt with few transactions. Hopes for the medium-term are based on the comeback of the currently inaccessible Outer Mariahilfer Strasse and the urban develop- ment project at the West Railway Station
In no other district has the transaction volume fallen as sharply as in Rudolf- sheim-Fünfhaus. The decline of roughly two-thirds from 2022 to 2023 was followed by a further drop to only 8.4 million Euros in 2024. However, the first months of 2025 brought a number of larger transactions – which is a possible sign that the low point has passed. A look at purchase prices, in contrast, fails to confirm this optimism. Square metre prices mainly range from 1,800 to 2,500 Euros and are in part even lower, while prime yields can top four per cent. Investors are interested primarily in the southern Sechshaus quarter, above all near the beltway. Four of the five transactions in 2025 were located in the Fünfhausgasse, Herklotzgasse, Sechshauser Strasse and Maria vom Siege. As disappointing as 2024 was, slightly stronger transaction activity in 2025 shows that the 15th District still has a longer term potential. This outlook is underscored by structural advantages that include excellent transport connections (U3/ U4/U6 underground lines, rapid transit and long-distance railways) and the short
distance to the city centre.
West Railway Station when the classifica- tion and structural features permit hotel, hostel or short-term rental use. A number of successfully realised concepts like Wombat’s illustrate the potential of this market segment. Other possibilities include the transformation of existing properties for other purposes as well as demolition and reconstruction.
The market is still negatively influenced by the large-scale reconstruction of the cen- tral traffic axis at the Mariahilfer Strasse, which has been in progress since mid-2024 and will likely remain until 2027/28. The rising vacancies and a structural shift towards less attractive low-price segments are essentially a warning signal for investors. However, today’s weakness can also be seen as tomorrow‘s strength. Completion of the construction project will create a low-traffic boulevard with lots of green and space for bicyclists and pedestrians. It will also serve as a long-awaited driving force for the transformation into a trendy, stylish residential area. Strong impulses are also possible over the long term through the new use of the large railway track areas in front of the West Railway Station for an ambitious urban development project. EHL Top Tip: Hospitality use near the West Railway Station Good earnings prospects can definitely be found in the investment properties near the
Rudolfsheim-Fünfhaus
Investment prop. prices 1,700 to 2,500 EUR/sqm
Prime Yields
3.0 to 4.0 %
Monthly rents (net) in EUR/sqm
Apartments
Ø 12.95
Offices
11.00 to 15.50
Retail space A locations
10 to 25
Retail space B locations
6 to 13
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Investment Property Report
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