First Vienna Residential Market Report 2024

Between tradition and future

HELIO Tower, Döblerhofstraße 10 / BUWOG

St. Marx

The many facets of Landstraße

The Landstraße district benefits from a harmonious interplay of historical architecture and innovative new building projects. The district has magnificent buildings from past centuries next to modern high-rises, creating an atmosphere of tradition and progress going hand-in-hand. At first blush, many of Vienna’s city folk associate Landstraße with the traditional embassy district and its elegant apartment buildings from the Wilhelminian era. A few kilometres on and the modern side of Vienna’s Third District emerges. Developments and development areas including The Marks and the newly built HELIO Tower, The One and Q-Tower residential high-rise projects have made a prominent debut on Vienna’s skyline. The last of the three high-rises was completed in mid-2023, adding to the district’s available living space. This new living space is also attracting new residents with especial- ly younger target groups interested in the district’s diversity. Media Quarter Marx, Marx Halle, and a planned event hall to host an au- dience of twenty thousand are also set to play a role in this devel- opment, turning these locations into a new hotspot for urban life

in Vienna. The Village im Dritten project is a sustainable showcase project currently underway with around two thousand apartments, commercial units, and local services including day-care and educa- tional facilities to be built over the next few years. Some parts of the district still offer plenty of room for new development, but the embassy quarter between Vienna downtown, Rennweg and Ungargasse is already densely built up with only enough space left for a few new projects. Those looking for an apartment will still have enough choice, though; new construction projects include Grace on Hetzgasse, Quartier Neue Mitte on Rennweg, and Central Mark on Markhofgasse. Housing prices are as varied as the individual parts of the district with a sharp gradient from north- west to southeast. Landstraße has also been making great efforts to become green- er and more ecological with additional green spaces after the redesign of Kardinal-Nagl-Park, while also promoting biodiversity and reducing the number of urban heat islands. Tramline no. 18 is currently under extension from Schlachthausgasse to the stadium, and will provide a new climate-friendly route from the Second to the Third District to open in 2026.

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