Up and coming
Sophienalpe
Park in Sicht Goldschlagstraße 191 / EHL
Living paradise in the west of Vienna
There are many benefits to choosing Penzing as a residential area with excellent transport connections (U4 metro line, urban, regional, and intercity train services as well as numerous bus and tram connections) on the one hand, and spacious green and recreational areas such as the Vienna Woods, Steinhofgründe, and Dehnepark on the other. Penzing has come a long way in recent years. The high demand for living space has been met with a diverse supply due to larger projects as well as neighbourhood developments. Two major projects have already been completed at the beginning of 2023 – Kennedy Garden on Penzinger Straße and Alice im Cumberland on Cumberlandstraße. There is still development in the district thanks to its remaining potential for densification, which obviously attracts many property developers. Many larger and smaller projects are currently under development such as
at Schleusenstraße 1a, Linzer Straße 346, Zehetnergasse 24, and on Hütteldorfer Straße.
There are also long-term preservation plans for the historically unique Otto-Wagner-Areal as a development site converting the area into a research, cultural, and educational location after its current use by the Vienna Health Association, WIGEV. This yields a total construction area of around twenty thousand square metres – space for 160 new apartments. The plan also includes leaving the green areas on the site – including the trees – largely untouched. This development has recently brought even more attention to the district. Heavy demand has led to a significant increase in prices for living space, especially in Alt-Penzing and Breitensee; this affects new and existing properties alike.
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