No longer a best kept secret
Margaretenstraße 131-135 / EHL
Margaretenhof
Margareten in transition
Ask anyone to describe Margareten some time ago, they would have told you it was a densely built-up area with little in the way of green space – a typical district within the Vienna Beltway. But the Fifth District is in transition – a transformation from best kept secret to trendy district that is in full swing. The extension to the U-Bahn metro service and resulting U2 con- nection has a positive impact, but the improvements go beyond that. Once completed as planned for 2028, the metro extension is set to enrich the district with a metro hub on Pilgramgasse and stations in Matzleinsdorfer Platz and on Reinprechtsdorfer Straße. Recent years have seen partial unsealing work on the latter with landscaping and transformation into a climate-friendly shopping street including widened sidewalks and plenty of new places to sit down. The cycle path network in the district has also undergone expansion, now covering an impressive total of twenty-three kilometres.
The ongoing revitalisation projects in the traditional Viennese grätzel neighbourhoods in the district have led to increasing demand for living space in Margareten. Residential housing prices reflect the transition to a trendy district. Expectations of significant upgrades to individual locations in major parts of the district have led to acceptance of increased prices, even though apartment prices in the Fifth District are still cheaper than in all the other districts inside the Vienna Beltway. Developers are focusing more on quality than quantity in terms of volume in their projects due to the scarcity of significant reserves of space available for development. There are new building projects at Wiedner Hauptstraße 140, Margaretenstraße 102, and Mittersteig 22. The many new restaurants, cafés, and boutiques that are emerging also reflect the district’s transformation. The area around Margaretenplatz and Pilgramgasse in particular has a certain chic and trendy feel to it.
Powered by FlippingBook