First Vienna Residential Market Report 2024

Many facets

Alserbachstraße 11 / BUWOG

Votivkirche

Holiday flair on Donaukanal meeting the hustle and bustle of the city

Alsergrund is not only highly popular as a residential area, the district is also a highly attractive place for leisure activities. It is possible to escape the hustle and bustle of the city a little despite this central location. The broad cycle path along Donaukanal just a few metres from the water can be idyllically peaceful or thronging with skaters and joggers, or lots of young people turning it into a party zone; it all depends on the time of day. This inner-city waterfront is just one of many reasons that Alser- grund is such a popular residential area. Residents and visitors alike benefit from the district’s wide variety of attractions. The Ninth District features a large selection of cafés and restaurants in addi- tion to many of the institutes belonging to the University of Vienna. These are some of the reasons for young student neighbourhoods forming such as those around Friedensbrücke and Spittelau, in addition to the classic upper middle-class areas around the Servitenviertel quarter and other places. Public transport connections in Alsergrund are excellent too. The U5 metro line construction project is also set to boost demand with three of the planned stations located within the Ninth District.

There is also a selection of reconstruction projects in the district raising its market value such as Servitengasse and part of Grünen- torgasse being converted into a pedestrian precinct with plenty of trees, green spaces, and seating facilities. The district also has recreational areas such as the picturesque Liechtensteinpark, Votivpark, Arne-Karlsson-Park, and the many yards on the campus bordering the Eighth District at the Old General Hospital for sports and relaxation. This all provides many excellent reasons for the high demand for living space in the district, the demand vastly outstripping the housing available. Most of the residential housing here consists of existing apartments and old buildings with just a few new con- struction and full revamp projects sprinkled in. One of these is Alsa – Rooftop Living on Nußdorfer Straße; another is La Nouvelle Maison , a project under development close by the Votivkirche church. Althangrund is still the Alsergrund district’s largest devel- opment area. The Althan Quartier area above the Franz-Josefs- Bahnhof railway station is a blend of offices, a hotel, a large park- ing facility, and apartments spread over 2.4 hectares. This area is currently undergoing an expansion phase with a general railway station building modernisation project underway at the same time.

Powered by