Austrian real estate is not often talked about in the news. Meanwhile, this market is interesting for an investor. Housing prices are rising rapidly in the country, and rental rates in Vienna are at the highest level in Europe. But what is a typical housing in the Austrian capital? Is the demand for rent high? The answers to these and other questions can be found in an extensive report prepared by two major players in the Austrian real estate market EHL and BUWOG. Let's find out.
Locals Live in Rental Apartments
According to the report, there are approximately 913,000 units of occupied housing in Vienna. About 77% of them, or 702,000 are rented out. More than half of the rental housing 397,000 is owned by the city or non-profit housing associations.
The proportion of people living in their own apartments in Vienna and throughout Austria is about the same; it is small compared to other forms of living. At the same time, single-family homes still prevail in Austria as a whole, but there are very few of them in Vienna.
Housing stock in 2020
Vienna
Austria
Housing used as the main place of residence, total
913 000
3 954 000
Including:
houses where owners reside
54 000
1 477 000
apartments where owners reside
118 000
439 000
Rented real estate, total
702 000
1 663 000
Including:
public welfare homes
207 000
276 000
cooperative homes
190 000
656 000
other types of rentals
305 000
731 000
Other
39 000
375 000
There is a well-formed rental market in Vienna, where any investor has a good chance to hand over the object. At the same time, rental rates in Vienna are called the highest in Central Europe.
Real estate for rent in Vienna
4 923 € per month
Flat in Vienna, Austria
153 m²4
General information: - Living area 153 m2, - 4-room apartment, 1 bathroom, 1 guest toilet
Heating: gas heating,
Floor covering: parquet, marble, tiles
Equipment: - fully furnished,
- fireplace,
- Bathroom: double washbasin, shower, hot tub, sauna,
- washing machine, laundry dryer,
- The kitchen is equipped with all household...
Immotrading GmbH
12 000 € per month
Flat in Vienna, Austria
272 m²6
Culture and High Quality of Life
The special atmosphere of the historic center of Vienna begins directly at your home.
Breakfast in the famous Café Mozart, a walk in Burggarten, a spontaneous visit to the Vienna Opera, exclusive shopping on Kerntnerstrasse or dinner in one of the prestigious restaurants in the city center – here Vienna...
The population of Austria as of January 1, 2020 was 8,9 million. 1.9 million people lived in Vienna. It is expected that the population of the capital will overcome the mark of 2 million in 2028. By 2070, the number of inhabitants may reach 2,24 million.
The growing population of the Austrian capital means that housing will continue to be in demand in the future.
The Average Age of a Resident of Vienna is 41 Years
Distribution of Viennese by age as of January 1, 2020.
0-19 years old
368 930
20-64 years old
1 226 771
> 65 years
315 490
According to forecasts, the population of the capital will age. By 2070, 23.9% of the city's residents will be over 64 years old, compared to 16.5% now. At the same time, the share of Viennese under the age of 20 will decrease from 19.3% to 19.2%.
A typical tenant of housing today is a middle-aged working person, and in a couple of decades it will most likely be a pensioner.
Almost Half of Locals Live Alone
By the beginning of 2020, there were 930,979 private households in Vienna, of which 508,603 consisted of several people, and 422,376 consisted of just one. The average household size is 2.04 people.
It is expected that by 2080 the number of households in the capital will grow by 23%, to 1.145 million. At the same time, the number of families consisting of one person will grow at a faster pace. The average family size will decrease to 2.02.
When choosing the size of an apartment that will be rented out, it is useful to focus on small families or single people.
The Population Density in Vienna is Not High
The average population density in the Austrian capital is 46.07 people per hectare. For comparison: in Paris – more than 200 people per hectare, in Moscow – 49 people per hectare.
The maximum density is in the Margareten area: 274 people per hectare. This is a popular place to live and relax. The incomes of local residents are relatively small, but housing prices are quite high, which makes people condense.
The minimum density is in the Hitzing district: 14.3 people per hectare. The Leinzer Tiergarten Nature Reserve and the Schoenbrunn Palace with its surrounding park are located in this area.
Thus, both the most densely populated and the lowest density areas are of interest to the investor.
Vienna, Austria
A Third of Population is Foreign
At the beginning of 2021, 31.5% of people living in Vienna (805,000 people) were foreigners.
Country of origin
Population
Serbia
101 597
Turkey
76 025
Germany
64 182
Poland
55 267
Romania
44 584
Vienna attracts foreign citizens from prosperous countries. Migration provides the main part of the population growth of the capital. According to the results of a recent study, Vienna was included in the top ten cities in the world in terms of quality of life. This means that people will strive to move to the Austrian capital, and local apartments have all the prospects for further price increases.
Green Zones Occupy Half of the City's Area
Freen areas are unevenly distributed. In the Josefstadt district (the very center of the city) greenery occupies only 1.9% of the area. The greenest area is Hitzing (70.6% of the area). This is a prestigious place, despite the distance from the center.
The network of bike paths in Vienna has a length of 1,431 km and covers most of the city. For comparison, the total length of the streets is only twice as long – 2,786 km. It is natural for Viennese to live in green areas and use a bicycle as a means of transportation.
Despite the fact that the central areas of the city devoid of greenery, they are traditionally considered the best and most expensive ones. Locals appreciated the proximity of green spaces even before the pandemic began. With the onset of the lockdown period, the popularity of such locations in Vienna has grown.
The Most Popular Public Transport in Vienna is Metro
Type of public transport
Number of Passangers
Length
Number of Lines
Metro
459,8
83,0
5
Tramway
304,8
225,4
28
Bus
196,1
661,9
131
Total
960,7
970,3
164
Locals actively use public transport. The distance to the nearest metro station significantly affects the price of real estate, but even the proximity of a tram or bus stop is considered a noticeable plus.
The Average Size of Housing in Vienna is Less Than in Austria
The average area of housing by a federal land, sq.m
Burgenland
124,0
Lower Austria
115,9
Upper Austria
109,2
Carinthia
107,8
Styria
105,6
Vorarlberg
98,9
Tyrol
97,6
Salzburg
96,9
Vienna
73,7
Austria in total
100,0
It is not surprising, if we remember that the Viennese live mainly in apartments, and the rest of the Austrians live in their own houses.
The largest living space per resident is in the Josefstadt district – 78 sq. m. This is one of the most expensive and smallest areas of the city.
The least living space per resident in the districts of Leopoldstadt and Brigittenau is 39 sq. m. Both of them are cheap.
The Viennese Were Not Disappointed in Their Homes During the Pandemic
According to the results of a survey conducted in April 2020 by the Raiffeisen Immobilien Vermittlung agency, the majority of Vienna residents did not show dissatisfaction with housing conditions.
As happy as before
76%
More satisfied than before
12%
Less satisfied than before
8%
As unhappy as before
3%
Predictably, the owners of large apartments (more than 120 sq.m) were the most satisfied, and those with housing less than 60 sq.m were the most dissatisfied.
With such sentiments, you should not expect that the residents of the Austrian capital will leave the city, as is the case in many countries.
2.5 Times More Houses Have Been Built in Vienna Over the Past 70 Years
1951
72 948
1961
79 034
1971
96 209
1981
134 321
1991
153 693
2001
168 167
2011
164 746
2019
180 553
2020
181 160
Most of the houses in Vienna were built several decades ago. Historical buildings make up a small part of the housing stock, but there are also few new buildings.
The Most Expensive Area is the Innere Stadt
In the very center of Vienna, in the Inner Stadt district, prices are higher than in the rest of the capital. The price per sq.m here is €19,800. The next most expensive one is another prestigious area of Vienna, Debling. The average rate there is at the level of €7,000. The cheapest area is Simmering, where a sq.m costs €4,150.
The richest Viennese live in the Inner Stadt. Their average income is €27,864. The residents of Rudolfsheim earn at least €18,343.
District
Population
Income
Sale price
per sq. m
Rental rates
per sq. m
Main residence
Other
Main residence
Other
Inner Stadt
16 047
€27 864
€19 800
€13 500
Not enough data
Not enough data
Leopoldstadt
105 848
€20 053
€5 600
€4 150
€1 270
€1 050
Landstrasse
91 680
€22 269
€5 750
€4 200
€1 280
€1 100
Wieden
33 212
€24 365
€5 800
€4 300
€1 330
€1 130
Margareten
55 123
€19 699
€5 300
€4 000
€1 200
€1 070
Mariahilf
31 651
€21 937
€5 700
€4 250
€1 320
€1 120
Neubau
31 961
€22 764
€6 150
€4 600
€1 330
€1 120
Josefstadt
25 021
€25 731
Not enough data
€4 900
€1 350
€1 160
Alsergrund
41 884
€24 054
€6 250
€4 500
€1 310
€1 140
Favoriten
207 193
€19 752
€4 700
€3 000
€1 130
€960
Simmering
104 434
€19 537
€4 150
€2 700
€1 050
€940
Maidling
97 078
€20 349
€4 550
€3 150
€1 170
€1 030
Hitzing
76 813
€26 741
€6 250
€4 400
€1 310
€1 150
Penzing
93 634
€22 853
€4 900
€3 350
€1 190
€1 060
Rudolfsheim
76 813
€18 343
€4 600
€3 150
€1 170
€1 030
Ottakring
103 117
€20 309
€4 650
€3 100
€1 170
€1 040
Hernals
57 027
€22 420
€4 600
€3 200
€1 150
€1 030
Währing
51 497
€25 480
€6 200
€4 200
€1 280
€1 110
Döbling
73 901
€25 699
€7 000
€4 700
€1 330
€1 120
Brigittenau
86 368
€19 059
€4 400
€3 000
€1 150
€1 040
Floridsdorf
167 968
€21 080
€4 400
€3 000
€1 130
€1 020
Donaustadt
195 230
€21 391
€4 600
€3 050
€1 170
€1 030
Leasing
110 464
€23 373
€4 300
€3 150
€1 080
€1 020
Real Estate Prices Are Constantly Growing
Real estate in Vienna, as well as throughout Austria, has been increasing in price for a decade. The pandemic seems to accelerate this process. Double-digit price increases were recorded last year in some areas. New buildings in Austria are now considered the most expensive in Europe.
A steady upward trend in prices means that the investor is likely to get a good profit when reselling.
Apartments and villas you can buy in Vienna
1 269 000 €
Flat in Vienna, Austria
122 m²4
A new exclusive project is being implemented between the Main University Hospital of Vienna (AKH), Zimmermannplatz Square and St. Anne Children’s Hospital: five upscale apartments in the attic are being created in a majestic corner building with an elegantly decorated facade, designed for both their own living and long-term investments.
The...
Immotrading GmbH
620 000 €
House in Vienna, Austria
103 m²
Location.
In an excellent location in the 4th district of Vienna, on the charming street of Lambrechtgasse, this representative office building is a perfect combination of historical architecture and modern comfort. The central location provides a developed infrastructure, as well as excellent transport accessibility and convenient...
Immotrading GmbH
5 600 000 €
Villa in Vienna, Austria
507 m²6
This exceptional villa combines exquisite architecture, spacious living spaces and the highest level of privacy, creating a unique residential residence in a prestigious, surrounded by greenery and tranquility.
The mansion was designed in 2007 by Swiss architect Norbert Friedl. The architecture impresses with a harmonious combination of...
Immotrading GmbH
1 990 000 €
House in Vienna, Austria
830 m²
We are very pleased to offer you a fully renovated residential building in the heart of Mattersberg, the third largest city in Burgenland.
Location / transport / infrastructure:
Absolute central location of the house, excellent infrastructure - all shops for everyday needs are in close proximity. Schools, doctors, the legendary Matterburg...
Immotrading GmbH
609 000 €
Flat in Vienna, Austria
82 m²3
ARE and UBM are building a new residential complex on site 5, comprising a total of 138 affordable housing apartments, private outdoor spaces and an underground garage with 42 parking spaces.
The U-shaped building with four staircases is located at the intersection of Ljuba Welitsch-Promenade and Gunther Philipp-Weg. The total area of...
Immotrading GmbH
2 450 000 €
Flat in Vienna, Austria
403 m²
Location
Situated in a prime location in Vienna’s 4th district, on the charming Lambrechtgasse, this representative office building offers an ideal combination of historic substance and contemporary comfort. Its central position provides excellent infrastructure as well as superb access to public transport and Vienna’s city center.
Building...
Immotrading GmbH
420 000 €
Flat in Vienna, Austria
41 m²2
Exclusive apartment in the 6th district - modern elegance and the convenience of a smart home
The 6th district, also known as Mariahilf, is a unique combination of traditional Viennese charm and modern innovation. City life here pulses with a relaxed atmosphere. Lively streets, cozy cafes and fashionable boutiques give the area a special...
Immotrading GmbH
2 050 000 €
Flat in Vienna, Austria
130 m²4
This elegant 4 bedroom apartment impresses with its exquisite design and atmosphere filled with light. With a usable living area of 130.12 m2 and a total area of 155.47 m2, it offers plenty of space for comfortable living and individual furnishings.
Planning and main characteristics:
Living area: 130.12 m2
Room: 4
Room height: 2.7 m...
Immotrading GmbH
2 290 000 €
Flat in Vienna, Austria
155 m²4
This elegant 4 bedroom apartment impresses with its exquisite design and atmosphere filled with light. With a usable living area of 154.71 m2 and a total area of 189.42 m2, it offers plenty of space for comfortable living and individual furnishings.
Planning and main characteristics:
Living area: 154.71 m2
Room: 4
Room height: 2.7 m...
Immotrading GmbH
915 500 €
Flat in Vienna, Austria
93 m²3
A new exclusive project is being implemented between the Main University Hospital of Vienna (AKH), Zimmermannplatz Square and St. Anne Children’s Hospital: five upscale apartments in the attic are being created in a majestic corner building with an elegantly decorated facade, designed for both their own living and long-term investments. The...
Immotrading GmbH
440 000 €
Flat in Vienna, Austria
70 m²3
For sale is a fully renovated 3-bedroom apartment located in the 20th district of Vienna, right next to the Hannovermarkt market.
The apartment was completely renovated in May 2022. It is located on the 1st floor of a building with an elevator built in 1955.
Approximately 70 m2 of living space of the apartment is distributed as follows:
-...
Immotrading GmbH
1 990 000 €
House in Vienna, Austria
900 m²
For sale is a fully renovated residential building in the heart of Mattersberg, Michael Koch Strasse 24, the third largest city in Burgenland.
Location / transport / infrastructure:
The house is located in the city center, the infrastructure is well developed - shops of everyday demand are in close proximity. Schools, doctors, the legendary...
Immotrading GmbH
820 000 €
Flat in Vienna, Austria
139 m²
Location
In a prime location in Vienna's 4th district, on the charming Lambrechtgasse, this executive office building is the perfect combination of historic architecture and modern comfort. The central location provides a developed infrastructure, as well as excellent transport accessibility and convenient connections to the center of Vienna....
Immotrading GmbH
220 000 €
House in Vienna, Austria
36 m²
Location.
In an excellent location in the 4th district of Vienna, on the charming street of Lambrechtgasse, this representative office building is a perfect combination of historical architecture and modern comfort. The central location provides a developed infrastructure, as well as excellent transport accessibility and convenient...
Immotrading GmbH
1 050 000 €
Flat in Vienna, Austria
112 m²4
This beautiful 4-bedroom apartment on the ground floor is located near Schönbrunn and includes a terrace and garden.
The apartment is spacious, bright and offers a lot of space.
Location:
The location of the apartment is ideal, as it is located in a quiet residential area, but it offers good connections with public transport (58A, 60, 62)...
Immotrading GmbH
290 000 €
Flat in Vienna, Austria
44 m²2
In the 22nd district of Vienna, on the street Archduke-Karl-Strasse, is this well-groomed 2-room apartment on the attic floor of a modern residential building (year of construction – 2019).
The apartment has a living area of about 44 m2 and has a functional layout, as well as bright and cozy rooms.
A special advantage is the loggia with an...
Immotrading GmbH
891 700 €
Flat in Vienna, Austria
82 m²3
A new exclusive project is being implemented between the Main University Hospital of Vienna (AKH), Zimmermannplatz Square and St. Anne Children’s Hospital: five upscale apartments in the attic are being created in a majestic corner building with an elegantly decorated facade, designed for both their own living and long-term investments. The...
Immotrading GmbH
1 405 000 €
Flat in Vienna, Austria
140 m²
This beautiful, spacious apartment is located on the 4th floor of a building built in 1962 in the 4th district of Vienna.
Location:
Vienna's 4th district, also known as Wieden, has a number of notable advantages that make it an attractive choice for residents. Viden is located immediately south of the inner city and is therefore very...
Immotrading GmbH
845 000 €
Flat in Vienna, Austria
93 m²3
A new exclusive project is being implemented between the Main University Hospital of Vienna (AKH), Zimmermannplatz Square and St. Anne Children’s Hospital: five upscale apartments in the attic are being created in a majestic corner building with an elegantly decorated facade, designed for both their own living and long-term investments.
The...
Immotrading GmbH
1 649 000 €
Flat in Vienna, Austria
104 m²3
Spacious apartment with modern design in Argentina Strasse, in the 4th district of Vienna
For sale is a stylish, furnished luxury apartment of about 104 m2 in the 4th district of Vienna. The apartment is located on the 2nd floor of the historic building, which was reconstructed in 2017.
General information:
Living area: 104 m2
Ceiling...
