Prestigious downtown
Schulerstraße 1-3 / BUWOG
Volksgarten
Vienna’s historical heart
Vienna’s First District has always been known as a historical centre with Hofburg, Parliament, and St. Stephen’s Cathedral as just a few of the many buildings reflecting Vienna’s architec- tural heritage and history. The many cultural institutions, architectural gems, and traditional Viennese coffee houses are especially popular with tourists – and also amongst the regular city folk. However, Vienna downtown offers much more than glamorous structures and sights; it also serves as the central administrative district for city, state and fed- eral government. This is also an employment hotspot with more than a hundred thousand people employed in Vienna downtown – more than in any other district of the city. The prestigious First District is also a popular residential location, but properties here come at a price to match. Prices in Vienna downtown contrast heavily with those in neighbouring districts
due to the highly limited amount of new building stock in Vienna’s most prestigious district as well as the high building density at this location, amongst other reasons. Even so, more projects are being planned compared to previous years thanks to several loft conversion projects. New lofts are under construction at Stubenring 2 and Werdertorgasse with projects already completed at Rudolfsplatz 14 and Esslinggasse 13. Vienna downtown is still developing despite its historical location – progressive urbanisation makes no exception in the traditional First District. Projects for 2024 include greening at Dominikaner- bastei and the Postgasse restructuring project to redesign and upgrade the entire neighbourhood, which includes planting new trees. Plans to restrict car traffic in the city centre are another positive factor from the housing market perspective as shown in increased price levels around Rotenturmstraße, which has been traffic-calmed for a few years now.
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