First Vienna Residential Market Report 2024

Where classic meets modern

Freudenau

Das Artmann, Obere Donaustraße 19-21 / EHL

Leopoldstadt in transition

Leopoldstadt stretches along an island between the Danube and Donaukanal in a harmonious interplay of urban hustle and bustle and laid-back idyllic natural scenery. The Second District is a showcase in how vibrant city flair and natural retreat can coexist in perfect balance. Once a centre of Jewish life, signs of the district’s rich and varied his- tory are still visible in Leopoldstadt today. The district’s multifaceted attractions include grand palaces, historic buildings, and the famous Vienna Prater waiting to be experienced. Residents benefit from many green oases and the immediate proximity to Donaukanal, the Danube Canal. This district is also home to a culinary hotspot with its charming Karmelitermarkt, a place to meet up for people of all ages. The past few years have seen major changes in the Second District and its transformation into a hip and diverse residential district, with various neighbourhoods emerging and breathing new life into Leopoldstadt. One such example is Viertel Zwei, considered one of the most exciting urban development areas in Vienna. For good reason – this lively living and working area with its many leisure activities, perfect infrastructure, and places to chill out and relax

is currently expanding to include two new high-rises. Then there is the LeopoldQuartier scheduled for completion in 2025 as the first urban district in Europe to be built entirely using wood-hybrid construction. Apart from that, the Nordbahnviertel quarter is rapidly developing into a modern urban centre with apartments, parks, and schools. The waterfront on the right-hand bank of the Danube is also seeing further development with new projects in the coming years to follow the MARINA TOWER project completed in 2022. Leopoldstadt also has much to offer in the way of urbanisation. On- going initiatives include projects to make the district more pedes- trian-friendly and expand the existing green spaces. As an example, the Praterstern nexus has undergone a transformation from a traffic junction with tonnes of concrete to a green and trendy oasis of relaxation. Leopoldstadt lagged behind the western central districts in prices for years despite its alternative flair and central location but has since increasingly developed into a highly desirable residential district with rental and purchase prices recently rising above the average across Vienna.

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