First Vienna Residential Market Report 2024

The many facets of Ottakring

Gablenzgasse 60-60a / BUWOG

Ottakringer Brauerei

Suburbs turning chic and hip

Viewed from its best-known and most popular market, Brunnenmarkt, the Sixteenth District would probably be best described as a lively melting pot of cultures as also reflected in Ottakring’s varied population. Ottakring stretches from the Vienna Woods in the west to the Vienna Beltway in the east, and has more to offer than you might find in a small town. The district varies in its urban architecture from Brunnen- markt with its culinary tour of the world to the buzz of student life on the party mile on Ottakringer Straße, to the palatial suburban villas amidst the idyllic scenery of Wilhelminenberg. Ottakring is still developing; some streets still keep to the traditional working-class district cliché while the more upmarket parts of the dis- trict feature attractive new residential locations. The district’s housing prices are best described as diverse. Prices per square metre around Ottakringer Straße and Brunnenmarkt have seen moderate growth over the past few years in contrast to those of Wilhelminenberg, which range from premium to astronomical. Demand for living space in all the district’s micro-locations is also very high due to the excellent infrastructure with connections to the U3 and U6 metro lines, regional railway services, and numerous bus and tram connections.

Most of the new building projects are located near the U3 metro line, although there are also old building revitalisation and loft conversion projects underway. There is also increased construc- tion activity between Thaliastraße and Ottakringer Straße. The western outskirts of Ottakring are home to a selection of highly exclusive high-quality projects. Wilhelminenberg is one of the most sought-after locations, but also one of the city’s most expensive residential areas with its cottage-style villas, acres of green space, and breathtaking views over Vienna. Things are not only happening on the Ottakring housing market, the streetscape is also in a state of change. This includes plans to revamp the Klinik Ottakring hospital to be completed by 2040. A greening offensive has also been running a renovation campaign for the high streets including tree planting, which is set to boost the district’s attractiveness even further. The Thaliastraße “climate boulevard” also keeps growing with construction work on the section between Huttengasse and Karl-Kantner-Park due to begin in 2024 after the Thaliastraße reconstruction from the Vienna Beltway to Huttengasse.

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