FIRST VIENNA RESIDENTIAL MARKET REPORT EDITION 2019
FIRST VIENNA RESIDENTIAL MARKET REPORT www.residentialmarketvienna.at
EDITORIAL DEAR READER We are pleased to present the First Vienna Residential Market Report for the seventh time. lations. If this trend continues, it will have a signiﬁcant impact on housing costs, and especially the possibility of ﬁnancing entire projects. We at the BUWOG Group and EHL Immobilien are familiar with the chal- lenges that the Vienna housing market is facing. We are dealing intensively with housing needs and requirements that need to be met now and in the future, for people of every generation. Changing values, digitalisation and sustainability are not just buzzwords for us. These concepts play a major role in the planning and construction of housing projects that will also need to reﬂect the demands of society in years to come. We are doing our best to ensure that our customers and the residents of Vienna enjoy adequate state-of-the-art housing with correspondingly high quality of living both today and in the future. Residential property not only meets basic human needs, but is also a major economic factor regarding employment, innovation, and growth as not only burgeoning market demand shows. The BUWOG Group is one of the largest developers in Vienna, and EHL Immobilien is the leading real-estate service company. As such, we place a lot of importance on passing on our expertise and experience in the housing market while providing a summary of the developments, pros- pects and peculiarities of the property market in this report. We wish you an enjoyable browse through the First Vienna Residential Market Report for 2019. Vienna was not only selected as the city with the highest quality of life for the ninth year in a row as part of the Mercer Study last year; Austria’s capital outranked Melbourne, Australia, after seven years at the top according to the British Economist. Even so, the huge popularity of Vienna has also given rise to a number of challenges for the city: the population has been rising steadily, and is pro- jected to reach around two million inhabitants by 2026. This development has led to years of demand outstripping supply on the Vienna housing market as well as land scarcity that housing developers in particular have had to contend with. The way out of this has been upwards: residential “Residential high-rise blocks hold the potential to provide the housing Vienna needs on a small footprint.“ high-rise buildings provide great potential for large numbers of residential units and high quality of life on a relatively low footprint. This makes it pos- sible for developers to create the residential space that Vienna needs des- pite low opportunities for densiﬁcation. There are interesting new high-rise development projects in construction or planning spread all over Vienna; read more on the following pages. The City Government of Vienna is also looking for ways to provide more housing for the city. These include efforts to speed up the approval process. In contrast, construction costs have been increasing for months, which is partly due to the high demand and partly to the many standards and regu- YOURS SINCERELY Mag. Daniel Riedl FRICS Member of the Management Board, Vonovia SE Andreas Holler, BSc Managing Director of BUWOG Group GmbH Mag. Michael Ehlmaier FRICS Managing Partner of EHL Immobilien GmbH DI Sandra Bauernfeind FRICS Managing Partner of EHL Wohnen GmbH
First Vienna Residential Market Report | 2019 02 INTRODUCTION TABLE OF CONTENTS 01 EDITORIAL INTRODUCTION TABLE OF CONTENTS OUR MOTIVATION BUWOG GROUP EHL IMMOBILIEN HOUSING MARKET OWNERSHIP STRUCTURE 2018 DEMOGRAPHICS OF AUSTRIA HOUSEHOLDS IN AUSTRIA DEMOGRAPHICS OF VIENNA HOUSEHOLDS IN VIENNA FACTS FIGURES THE SINUS-MILIEUS® DISTRICTS OF VIENNA VIENNA AT A GLANCE 1010 VIENNA INNERE STADT 1020 VIENNA LEOPOLDSTADT 1030 VIENNA LANDSTRASSE 1040 VIENNA WIEDEN 1050 VIENNA MARGARETEN 1060 VIENNA MARIAHILF 1070 VIENNA NEUBAU 1080 VIENNA JOSEFSTADT 1090 VIENNA ALSERGRUND 02 03 04 05 06 08 09 10 11 12 13 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 54 56 58 60 62 64 65 66 67 68 69 70 71 72 73 74 75 77 1100 VIENNA FAVORITEN 1110 VIENNA SIMMERING 1120 VIENNA MEIDLING 1130 VIENNA HIETZING 1140 VIENNA PENZING 1150 VIENNA RUDOLFSHEIM-FÜNFHAUS 1160 VIENNA OTTAKRING 1170 VIENNA HERNALS 1180 VIENNA WÄHRING 1190 VIENNA DÖBLING 1200 VIENNA BRIGITTENAU 1210 VIENNA FLORIDSDORF 1220 VIENNA DONAUSTADT 1230 VIENNA LIESING BUWOG GROUP & EHL IMMOBILIEN PROJECTS MARINA TOWER / BUWOG GROUP AMELIE / BUWOG GROUP GRINZINGER ALLEE / BUWOG GROUP RIVUS II / BUWOG GROUP SEESEE LIVING / BUWOG GROUP 5IN22 / EHL IMMOBILIEN BREITENLEER GÄRTEN / EHL IMMOBILIEN BÖRSEPLATZ 1 / EHL IMMOBILIEN ROSÉ / EHL IMMOBILIEN WILDGARTEN / EHL IMMOBILIEN CLOSING WORDS COMMENTS AND TERMINOLOGY IMPRINT
03 First Vienna Residential Market Report | 2019 INTRODUCTION OUR MOTIVATION THE FIRST VIENNA RESIDENTIAL MARKET REPORT has already reached its seventh edition in 2019. We are very proud to provide our readers a comprehensive insight into the Viennese housing market from our experience and knowledge of the real-estate sector for the seventh year. We at the BUWOG Group and EHL Immobilien have been putting all our efforts into it year after year. WE, THE BUWOG GROUP as one of the most active real-estate developers and EHL Immobilien as one of the largest real-estate service companies, have pooled our entire knowledge as market experts in the current issue of the First Vienna Residential Market Report. We believe that it is essential to provide home seekers and other stakeholders with an overview of developments in the Vienna housing market. For this reason, you will ﬁnd useful facts and ﬁgures as well as extracts from the market study on new development, apartments for owner-occupiers and investors in Vienna for 2018 in this issue. AS IN PREVIOUS YEARS, the First Vienna Residential Market Report is unique in that it only quotes ﬁnal prices – purchase prices or rents actually achieved – rather than offer prices. This increases the report’s relevance while making the First Vienna Residential Market Report one of a kind compared to many other market reports and studies. As an annual publication, the report also provides comparison ﬁgures for Vienna and the districts. ALL INFORMATION USED corresponds to the current state of knowl- edge and the latest data. The statistical information that the report draws on comes from Statistics Austria (the state statistics ofﬁce) and the City of Vienna (MA 23 – Economics, Labour and Statistics).
04 EINLEITUNG BUWOG GROUP THE BUWOG GROUP is the leading full-service supplier to the residential housing sector in Austria with sixty-seven years of experience in the property market. The Group’s high-quality portfolio currently includes around 21,000 units distributed across Austria. THREE BUSINESS DIVISIONS, each strategically valuable, make up the business model: property development for the market or transfer to the existing BUWOG asset portfolio, property sales as value-oriented sales of individual apartments, properties and portfolios, and asset management form a closed value-added loop that is the core business area of the BUWOG Group. SINCE NOVEMBER 2018, the BUWOG Group has been a wholly owned subsidiary of Europe’s leading residential housing company, Vo novia SE, which is based in Bochum, Germany. OUR LONGSTANDING and extensive know-how in all areas of con- struction and housing forms the fundamental basis of our activities for the beneﬁt of our customers. Awards in project development and sus- tainability stand witness to the successful activity of the BUWOG Group in the real estate market, and showcase the capability, commitment, and professionalism shared by just below four hundred employees. We have focused on the federal capital in our housing projects, and see great im- portance in the positive synergy effects of networking our three business divisions. HAPPY LIVING is our mission. To turn this into a reality, we have been pursuing one key objective in developing all our residential projects from planning through to management: the creation of modern and future-oriented quality of living. × BUWOG Group
05 EHL IMMOBILIEN GROUP THE NEWLY FOUNDED EHL WOHNEN GMBH company is part of the EHL Immobilien Group and one of the leading real-estate agencies in Greater Vienna. Apart from arranging rented, occupier-owned, and investment contracts as well as brokering land and property deals, the company operates in property development consulting – the company advises developers on optimised market-oriented design and marketing for their projects. EHL IMMOBILIEN was founded in 1991, and is one of Austria’s leading residential property service suppliers specialising in residential, commer- cial, and investment properties. Our range extends from estate agency services and property valuation to property and construction administra- tion; asset, centre and portfolio management; as well as market research and investment consulting. OUR RESPONSIBLE RELATIONSHIPS with customers and partners have been conﬁrmed by several awards. Six EHL executives have been awarded a total of nine CÄSAR awards for outstanding achievements in property. In addition, EHL has been conferred the IMMY Award eight times – this is the deﬁnitive quality award amongst Viennese estate agents. OUR CUSTOMERS BENEFIT from a complete range of real-estate services across the world as well as our own local experts thanks to our exclusive partnership with BNP Paribas Real Estate. IN 2018, EHL ARRANGED deals for around 1,200 residential units (rental/owner-occupied/investment) and 43,000 square metres of ofﬁce space with a transaction volume at around 1.05 billion euros. The annual volume from the fast-growing property valuation segment exceeds 11 bil- lion euros. Apart from that, EHL manages properties in a variety of asset classes at a total of more than two million square metres. × EHL Immobilien
First Vienna Residential Market Report | 2019 06 HOUSING MARKET OWNERSHIP STRUCTURE IN 2018 AROUND 920,000 APARTMENTS IN VIENNA count as inhabited, with around 77% of households living in rented accommodation – an extraordinary housing market compared to the other eight Austrian federal states. Of these 708,000 or so rented apartments, around 405,000 are owned by the City of Vienna or non-proﬁt housing associ- ations. People living in owner-occupied apartments occupy a roughly equal share in Vienna and Austria; this share is rather low compared to other forms of housing, while still remaining largely stable. Naturally, most Austrians prefer to live in single-family homes, and this is the main household form across the country – as opposed to Vienna, where this share of households is very low. × HOUSING STOCK 2018 VIENNA AUSTRIA TOTAL PRIMARY RESIDENCES approx. 920,000* approx. 3,915,092* OWNERSHIP HOUSE OWNER-OCCUPIERS APARTMENT OWNER-OCCUPIERS MAIN TENANTS (COLLECTIVE) PRIVATE INDIVIDUALS AND LEGAL ENTITIES PUBLIC CORPORATIONS NOT-FOR-PROFIT HOUSING COOPERATIVES SUBLEASES AND OTHER LEASE ARRANGEMENTS ABSOLUTE FIGURES ABSOLUTE FIGURES 55,200 128,800 708,400 303,600 211,600 193,200 27,600 1,487,735 430,660 1,644, 339 704,71 7 313,207 626,415 352,358 * Source: Statistics Austria (new extrapolation method as of the 2014 Microcensus), own calculations
07 First Vienna Residential Market Report | 2019
First Vienna Residential Market Report | 2019 08 HOUSING MARKET DEMOGRAPHICS OF AUSTRIA AS OF JANUARY 1, 2018, AUSTRIA WAS HOME TO 8,822,267 people, of whom 5,455,776 were between 20 and 64 years old. At the start of 2017, the average age of the people living in Austria was 42.6 years. According to the latest forecasts, the population of Austria is expected to reach the 9 million mark in 2022. × DEMOGRAPHIC OUTLOOK FOR AUSTRIA AGE PROFILE OF POPULATION AS OF JANUARY 1, 2018 1,719,499 0–19 YEARS 1,646,992 > 65 YEARS 5,455,776 20–64 YEARS 2017 TO 2070 8,795,073 9,844,235 Population 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 2000 2010 2020 2030 2040 2050 2060 2016 Year 2070 FORECAST →→ Nine million people will be living in Austria by 2022. →→ By 2070, the population of Austria is expected to rise to 9,844,235 people. →→ This corresponds to an increase by nearly 12% from 2017 to 2070. →→ By 2070, around 28.5% of the population will be 65 years or over, up from 18.6% in 2017. →→ The number of people living in Austria below the age of 20 will continue to drop gradually, from 19.6% in 2017 to 19.0% by 2070.
09 First Vienna Residential Market Report | 2019 HOUSEHOLDS IN AUSTRIA THE AVERAGE HOUSEHOLD SIZE of the around 3,890,000 private households in Austria was 2.22 people in 2017. The trend towards small households continues, with the ﬁgure being similar to that of 2015. In 1984, the average household size was 2.70, while experts predict that this ﬁgure will drop to 2.09 by 2080. × PRIVATE HOUSEHOLDS FORECAST FOR SINGLE AND MULTIPLE-PERSON HOUSEHOLDS IN AUSTRIA 2017 TO 2080 Households in % 80 70 60 50 40 30 20 10 0 62.63% 58.26% 37.37% 41.74% 2017 2080 Year SINGLE-PERSON HOUSEHOLDS MULTIPLE-PERSON HOUSEHOLDS FORECAST →→ The number of single-person households is still growing rapidly. →→ From 2017 to 2080, the number of single-person households is expected to increase by 34.21% (from 1,453,077 to 1,950,178) as based on the total number of households in the respective year. →→ From 2017 to 2080, the number of private households with more than one person is expected to rise by only 11.79% (from 2,435,554 to 2,722,752) as based on the total number of households in the respective year. →→ From 2017 to 2080, the total number of private households is expected to rise by 20.17% (from 3,888,631 to 4,672,930). →→ The predicted average household size for 2080 is around 2.09 persons.
First Vienna Residential Market Report | 2019 10 HOUSING MARKET DEMOGRAPHICS OF VIENNA AS OF JANUARY 1, 2018, THE POPULATION OF VIENNA was 1,888,776. Of these, 310,781 people were older than 65, and 365,474 were younger than 20 years of age. On January 1, 2018, the average age in Vienna was 40.3 years (41.7 for women and 38.8 for men). Current forecasts predict that the population of the capital will hit the two million mark as early as in 2026. × DEMOGRAPHIC OUTLOOK FOR VIENNA AGE PROFILE OF POPULATION AS OF JANUARY 1, 2018 2017 TO 2070 1,877,719 2,233,401 365,474 0–19 YEARS 310,781 > 65 YEARS 1,212,521 20–64 YEARS Population 2,000,000 1,750,000 1,500,000 1,250,000 1985 1995 2005 2015 2030 2040 2050 2060 2070 Year FORECAST →→ By 2026, Vienna will have a population of more than two million. →→ By 2070, the population of the city is expected to reach 2,233,401. →→ This corresponds to an increase of nearly 19.0% from 2017 to 2070. →→ By 2070, around 23.4% of the city‘s population will be 65 years or over, up from 16.5%. →→ The number of people in Vienna below the age of 20 will increase only gradually, from 19.3% today to 20.0% by 2070.
11 First Vienna Residential Market Report | 2019 HOUSEHOLDS IN VIENNA VIENNA HAD AROUND 917,156 HOUSEHOLDS with an average household size of just 2.03 persons in 2017. The households in Vienna account for just below a quarter of all households in Austria. × PRIVATE HOUSEHOLDS FORECAST FOR SINGLE AND MULTIPLE-PERSON HOUSEHOLDS IN VIENNA 2017 TO 2080 Households in % 60 50 40 30 20 10 0 54.86% 45.14% 52.98% 47.02% 2017 2080 Year SINGLE-PERSON HOUSEHOLDS MULTIPLE-PERSON HOUSEHOLDS FORECAST →→ Between 2017 and 2080, the number of single-person households will increase by more than 28.19% (from 413,956 to 530,633). →→ From 2017 to 2080, the number of multiple-person households is expected to rise by more than 18.82% (from 503,200 to 597,872) as based on the total number of households in the respective year. →→ From 2017 to 2080, the number of private households will increase by more than 23.04% (from 917,156 to 1,128,505) as based on the total number of households in the respective year. →→ It is expected that there will be more than one million households in Vienna by 2030. →→ The predicted average household size for 2080 is 1.96 persons.
First Vienna Residential Market Report | 2019 12 FACTS USEFUL FACTS ABOUT VIENNA THIS PAGE PROVIDES A SUMMARY of exciting and interesting information on the Austrian capital. × NUMBER OF BUILDINGS OVER TIME HIGHEST BUILDINGS* 2 9 2 7 6 , 1 8 4 4 7 , 9 0 2 , 6 9 1 2 3 4 3 1 , 3 9 6 , 3 5 1 7 6 1 , 8 6 1 6 4 7 4 6 1 , 1951 1961 1971 1981 1991 2001 2011 POPULATION DENSITY* VIENNA: 46 persons per hectare UP TO 100 101 TO 200 201 AND MORE m 0 5 2 m 2 0 2 m 2 6 1 m 8 3 1 m 0 3 1 m 7 2 1 DC Millennium IZD Twin Tower Tower Tower Tower I Marina Tower Twin Tower II PUBLIC TRANSPORT* Passengers Length of line Lines 453.6 million 83.0 km 5 U-Bahn metro service Trams 305.8 million 220.4 km Bus Total 202.3 million 646.6 km 961.7 million 950.0 km 28 128 161 LOWEST DENSITY: HIETZING 14.4 persons per hectare HIGHEST DENSITY: MARGARETEN 276,6 persons per hectare SHARE OF RESIDENTIAL AREA** RELATIVE TO TOTAL ROAD LENGTHS* Shortest street: Irisgasse Longest street: Höhenstraße 60.9% Total length of streets in Vienna 17.5 m 15.0 km 2,830 km 25.4 % 14.5% Vienna total Leopoldstadt Josefstadt 7 1 0 2 d n a t S *
13 First Vienna Residential Market Report | 2019 VIENNA IS GROWING FIGURES THE PAST FEW MONTHS AND YEARS in particular have seen heavy construction activity in Vienna as the following ﬁgures show. The number of large-scale projects comprising more than a hundred apartments each has undergone an especially remarkable increase. × PROJECT PHASES OVER TIME – a n n e V i n i s t n e m t r a p a t n e m t s e v n i d n a d e p u c c o - r e n w o i . 8 1 0 2 f o s a t c e r r o c ; n o s i r a p m o c r a e y - e v ﬁ s t c e j o r p f o r e b m u N 500 400 300 200 100 0 394 349 278 423 446 PLANNING PHASE CONSTRUCTION PREPARATION IN CONSTRUCTION COMPLETED 2014 2015 2016 2017 2018 APARTMENTS WITH PLANNING PERMISSION IN NEW BUILDINGS, 2014 TO 2018 25,000 20,000 15,000 10,000 5,000 0 s t i n u f o r e b m u N 0 0 0 3 2 , 0 0 0 3 2 , 0 0 0 6 1 , 0 0 0 , 1 1 0 0 0 9 , 2014 2015 2016 2017 2018* APARTMENTS COMPLETED IN NEW BUILDINGS, 2014 TO 2018 15,000 12,000 9,000 6,000 3,000 0 s t i n u f o r e b m u N 0 0 0 4 1 , 0 0 0 0 1 , 0 0 0 8 , 0 0 0 8 , 0 0 0 8 , 2014 2015 2016 2017 2018* , s t c e o r p j n o i t c u r t s n o c w e n n o y d u t s t e k r a M : . . H b m . t f a h c s l l e s - e g s g n u t a r e B t k r a M + t r o d n a t S d n u G A a s e g n e w u b : l i e c r u o S L H E y b n o i t c i d e r P *
First Vienna Residential Market Report | 2019 14 THE SINUS- SINUS- MILIEUS® MILIEUS® WHO LIVES HOW THE FOLLOWING PAGES GIVE A SUMMARY OF SINUS-MILIEUS®. Sinus-Milieus® constitute a model that groups people according to their basic attitudes and lifestyles. Sinus-Milieu groups differ with regard to their consumer behaviour, lifestyle, and living environment. Further details on Sinus-Milieus® are given on page 75. TRADITIONAL MILIEUS CONSERVATIVES. Trendsetters in the traditional sphere with high ethics of responsibility – strongly characterised by Christian ethics, high estimation of arts and culture, sceptical towards current social development. Home is an expression of upper or middle-class lifestyle in clear distinction from current attitudes. TRADITIONALS. Emphasis on security, order, and stability – root- ed in the old petty-bourgeois world, in the traditional blue-collar culture, or in the rural milieu. Home tastes are based on tradition- al cosiness and rural aesthetics. CENTRAL MILIEUS NEW MIDDLE CLASS. The adaptive mainstream – seeking professional and social establishment, secure and harmonic circumstances, support and orientation, peace and a slow pace. They prefer interiors with neo-rustic, conventional aesthetics. ADAPTIVE-PRAGMATISTS. The young pragmatist middle stratum – pronounced life-pragmatism, strong desire for anchor- age, membership, security, performance orientation, but also the wish for fun and entertainment. The prevailing lifestyle is either trendy or quiet and down-to-earth.
15 First Vienna Residential Market Report | 2019 UPPER CLASS ESTABLISHED. The performance-oriented elite with a strong sense of tradition – strongly focused on status, exclusiveness, responsibili- ty, and leadership. The apartments are often a stylishly harmoni- ous combination of traditional and modern. POSTMATERIALISTS. Open-minded social critics – intellectual, edu- cated milieu, interested in variegated aspects of culture; cosmopolitan orientation, but critical towards globalisation; socially committed. Home styles are dominated by a sense of nature and authenticity; distinction from the mainstream plays a crucial role in this social group. HIGH ACHIEVERS. The ﬂexible and globally oriented perform ance elite – individual performance, efﬁciency, and success take top priority; competent in business and IT. High achievers appreciate open, generously dimensioned interior designs that focus on presentation. DIGITAL INDIVIDUALISTS. The individualistic, networking, digital avant-garde – mentally and geographically mobile, cross-linked online and ofﬂine, permanently looking for new experiences. The home is creatively designed with deliberately unconventional highlights. THE MODERN LOWER CLASS CONSUMPTION ORIENTED. The materialistic lower class striving for participation – sense of discrimination, resentments, and pronounced fears of the future; striving to stay connected with the consumption standards of the middle class. An attempt is made to present an intact and bourgeois living environment. ESCAPISTS. The modern lower middle class, living for the excitement of the moment – seeking fun and amusement; rejection of traditional standards and conventions. The aesthetic of heavy stimuli dominates with a zest for provocation and challenging taboos.
First Vienna Residential Market Report | 2019 16 DISTRICTS OF VIENNA VIENNA AT A GLANCE THE MAP OF VIENNA provides an overview of the city districts. For better orientation, the map also shows underground metro lines and major roads/motorways. Metro lines that are planned or currently under construction are shown as broken lines. × PLANNED EXTENSION OF U2 METRO LINE PLANNED EXTENSION OF U5 METRO LINE CURRENT ROUTE OF U2 METRO LINE, TO BECOME U5 METRO LINE A22 21. U Leopoldau 19. U Floridsdorf U Heiligenstadt 20. 18. U Spittelau S2 U Elterleinplatz ** U Ottakring 8. 7. 9. 1. U Stephansplatz 2. U Seestadt 22. U Westbahnhof 6. 15. U Karlsplatz 4. 3. 5. 12. U Wienerberg ** U Simmering 11. A4 14. 17. 16. A1 U Hütteldorf 13. 23. A23 U Siebenhirten 10. U Oberlaa ** In planning A21 S1 VIENNA AIRPORT
17 First Vienna Residential Market Report | 2019 THE TABLE contains all key data and facts regarding population, income, property prices, and rents. The quoted prices are not asking or advertised prices but the prices that were actually paid upon signing of the contract. THE SECTIONS BELOW provide more detailed information on the individual districts, including key demographic data, statistics, and spe- cial features within the districts. × SALE PRICES ON CONCLUSION FIRST DISTRICTS RESIDENTS INCOME* 1010 VIENNA · INNERE STADT 1020 VIENNA · LEOPOLDSTADT 1030 VIENNA · LANDSTRASSE 1040 VIENNA · WIEDEN 1050 VIENNA · MARGARETEN 1060 VIENNA · MARIAHILF 1070 VIENNA · NEUBAU 1080 VIENNA · JOSEFSTADT 1090 VIENNA · ALSERGRUND 1100 VIENNA · FAVORITEN 1110 VIENNA · SIMMERING 1120 VIENNA · MEIDLING 1130 VIENNA · HIETZING 1140 VIENNA · PENZING 1150 VIENNA · RUDOLFSHEIM 1160 VIENNA · OTTAKRING 1170 VIENNA · HERNALS 1180 VIENNA · WÄHRING 1190 VIENNA · DÖBLING 1200 VIENNA · BRIGITTENAU 1210 VIENNA · FLORIDSDORF 1220 VIENNA · DONAUSTADT 1230 VIENNA · LIESING 16,450 105,574 90,712 33,319 55,640 32,069 32,467 25,662 42,547 201,882 101,420 97,624 54,265 92,752 79,029 104,627 57,546 51,647 72,65 0 87,239 162,779 187,007 103,869 € 34,482 € 21,527 € 24,525 € 25,325 € 20,056 € 23,570 € 24,654 € 24,464 € 24,091 € 19,122 € 20,568 € 20,083 € 29,357 € 23,726 € 17,893 € 19,860 € 21,0 91 € 25,560 € 26,728 € 18,738 € 22,338 € 24,427 € 25,209 OCCUPANCY € 18,600 € 5,200 € 5,300 € 5,400 n/a*** € 5,300 € 5,750 n/a*** € 5,750 € 4,150 € 3,600 € 4,150 € 5,700 € 4,300 € 4,150 € 4,200 n/a*** € 5,550 € 6,200 € 4,150 € 4,050 € 4,200 € 3,750 RENTS ON CONCLUSION FIRST OCCUPANCY n/a** € 12.10 € 12.20 € 13.00 € 11.80 € 13.00 € 13.00 € 13.00 € 13.10 € 10.90 € 10.00 € 11.20 € 12.80 € 11.30 € 11.20 € 11.20 € 11.30 € 12.60 € 13.00 € 10.70 € 10.80 € 11.20 € 10.50 OTHER n/a** € 10.20 € 10.70 € 11.20 € 10.60 € 11.00 € 11.00 € 11.30 € 11.20 € 9.10 € 8.90 € 10.00 € 11.00 € 10.30 € 10.10 € 10.20 € 10.00 € 10.80 € 10.90 9.90 € € 9.70 10.00 € 9.80 € OTHER € 11,200 € 3,800 € 3,800 € 3,900 € 3,700 € 3,850 € 4,400 € 4,500 € 4,300 € 2,700 € 2,300 € 3,100 € 4,150 € 3,100 € 2,850 € 2,850 € 3,000 € 3,800 € 4,200 2,700 € € 2,750 € 2,700 € 2,850 * ** Source: Statistics Austria, wage tax statistics for 2016, average annual net income for employees in total, in euros, valid as of December 2017 The report assumes residential rents that are not subject to the full scope of the Austrian Tenancy Act. The sample from the First District was too small to deliver any valid information, and has been omitted in the rent levels statistic. *** The sample observed was too small to deliver reliable and accurate information.
First Vienna Residential Market Report | 2019 18 1010 INNERE STADT INNER CENTRE T HE FIRST District has seen a surge in residential construction not witnessed for a long time and a good mix of all sizes can be found here. First-class luxury development projects are currently under construction at Rathausplatz and around Börseplatz 1, with other residential construction projects in planning at Franz-Josefs-Kai. Hotspots include Börseplatz, Graben, and the area around Tuchlauben. × U Schottenring U Schottentor Börse- platz U Rathaus U Herrengasse Tuch- lauben U Schwedenplatz Rotenturmstraße Graben U Stephansplatz U Stubentor U Volkstheater Kärntner Straße U Museumsquartier U Stadtpark U Karlsplatz HOTSPOTS SPECIAL FEATURES OF DISTRICT The First District’s exclusivity also distinguishes itself in its inhabitants with primarily Sinus-Milieus® such as the Established and High Achievers represented here. The former appreciate the excellent reputation of the neighbourhood as well as the cultural institutions such as the Vienna State Opera, which has already featured in Hollywood movies. High Achievers feel especially at home in the cosmopolitan environment with trendy restaurants nearby. The city centre is a diverse part of Vienna, enjoying great popularity amongst inhabitants and tourists alike. This is an ideal place to enjoy life over a slice of cake from the famous Hotel WOHNEN (PREIS/m2) Sacher or a Wiener Melange coffee at the legendary Café Hawelka. Anyone exploring the city will discover buildings and institutions of historical value around almost every corner – the author Franz Grillparzer was born at Bauernmarkt 1, for example. Just under ﬁfty percent of the area has been developed, but the green areas in the city centre that account for around EIGENTUM ten percent of the total area of the district provide a uniquely elegant ﬂair. ERSTBEZUG Ringstraße with its surrounding diversity of shopping opportunities arose SONSTIGE within the previous city walls in the middle of the nineteenth century, and MIETE is still recognisable as a grand boulevard today. ERSTBEZUG SONSTIGE ZINSHAUS
First Vienna Residential Market Report | 2019 20 1020 LEOPOLDSTADT THE BLUE DANUBE L EOPOLDSTADT is a popular residential area with the Stuwer- viertel, Karmelitermarkt and Prater, and one of the largest urban development zones in Vienna. The area around the former Nordbahnhof railway station will see a good four thousand apartments built by 2025; half of them have already been completed. The effective infrastructure and favourable location on the Danube make the district more attractive for new projects such as the Marina Tower project. They are also building upwards in Viertel Zwei with another high-rise development in planning here. × Nord- bahnhof U Praterstern U Schottenring Stuwer- viertel U Schwedenplatz WU- Campus/ Messe Hauptallee U Stadion Handelskai Prater U Donaumarina Praterkai HOTSPOTS SPECIAL FEATURES OF DISTRICT Johann Strauss II wrote the Blue Danube Waltz at Praterstraße 54; the work is thought to describe the views that the world-famous composer enjoyed in 1867, as Leopoldstadt is situated between the Donaukanal (Danube Canal) and the Danube. This location provides rapid connections to a variety of recreational and leisure activities. Augarten, for exam- ple, is one of the oldest and most culturally signiﬁcant parks in the city with more than ﬁfty-two hectares for long walks. The nearby local porcelain factory and Vienna Boys’ Choir concert hall are also worth a visit. The Vienna Prater, nearby football stadium, and Praterallee pro- vide not only a district for leisure, but also a recreational area for active sports fans and spectators. The green areas in Leopoldstadt make up more than ﬁfty percent of the total area of the district. The Consumption Oriented Sinus-Milieu® in above-average concentration here particularly appreciates the traditional pub culture of the district that can be found in the urban neighbourhood structure; this Sinus- Milieu® also values affordable residential areas and shopping on a small budget.
First Vienna Residential Market Report | 2019 22 1030 LANDSTRASSE NOTHING BUT VARIETY A NYONE WANTING TO SEE VIENNA from above is at the right address in the Third District as there are more high-rises being built here than in any other district. New building projects around the Donaukanal or Erdberger Lände such as TrIIIple, Ensemble, Landyard, and The Marks will make a lasting change to the cityscape. Long controversial, the Am Heumarkt high-rise project is still in the planning stage with construction expected to begin in 2021. The district has seen high overall demand for living space, making it especially attractive for project developers. × Weißgerberlände U Landstraße Stadtpark U Stadtpark U Rochusgasse Rochus- markt U Kardinal-Nagl-Platz Landstraßer Hauptstraße Rennweg Erd- berger Lände U Schlachthausgasse Rennweg Erdberger Mais Quartier Belvedere Landstraßer Gürtel St. Marx U Erdberg U Gasometer HOTSPOTS SPECIAL FEATURES OF DISTRICT The inhabitants of the Third District are just as diverse as the development activities in the district. The High Achievers Sinus-Milieu® feels especially at home here due to newly developed areas such as St. Marx – a new state-of-the-art centre for research, media, and housing near downtown Vienna. Landstraße excels in contrasts, offering colourful diversity from an attractive bar and restaurant scene around Rochusmarkt to cultural institutions such as Kunsthaus Wien, Rabenhoftheater, and Akademie- theater, to green areas accounting for around ﬁfteen percent of the district’s area, all reﬂected in the structure of the district. There are Viennese work- ing-class neighbourhoods next to elegant embassy quarters, vibrant shop- ping streets and modern buildings in a fascinating mix that is well worth taking a stroll through in the “Third”. A few memorial plaques can be found along the way: amongst others, Wolfgang Amadeus Mozart called this place home for a while, and Ludwig van Beethoven completed his ninth symphony at Ungargasse 46 – Ode to Joy, the European anthem since 1972.
First Vienna Residential Market Report | 2019 24 1040 WIEDEN POPULAR DENSITY T HE DISTRICT’S COMPACT AREA and dense develop- ment place limits on the number of new housing projects in the Fourth District. Even so, there is still a relatively high amount of development: the area around Südtiroler Platz has been seeing increasing popularity with its direct metro connection, and Wiedner Hauptstraße is burgeoning, becoming increasingly popular with home seekers. Individual luxurious residential projects are emerging along the border to the First District; these projects beneﬁt from their proximity to the Naschmarkt and Freihausviertel hotspots, amongst other things. × U Karlsplatz Nasch- markt Frei- haus- viertel Prinz-Eugen-Straße U Taubstummengasse Favoritenstraße Süd- tiroler Platz U Südtiroler Platz Hauptbahnhof HOTSPOTS SPECIAL FEATURES OF DISTRICT Despite the low amount of green at around ten percent of the total area of the district, Wieden is no less attractive than other districts as it otherwise leaves nothing to be desired: proximity to educational institutions such as the Technical University and Theresian Academy and the well-developed network of cycling paths attract the Postmaterialist Sinus-Milieu®. High Achievers that also occupy an above-average share in Wieden appreci- ate the diversity of places to eat out as well as its central location and prestigious surroundings including the parts bordering on downtown. Wien Museum, Otto Wagner Pavillon, and Church of St. Charles, a sym- bolic landmark of Vienna, are close by Karlsplatz metro junction, making it not only a cultural highlight of the district – it also has an interesting history with composer Antonio Vivaldi ﬁnding his ﬁnal resting place at Karlsplatz 13 in 1741, and Dr. Karl Lueger, former mayor of Vienna, born almost a hundred years later at the same address in 1844.
Wohllebengasse 6 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 33,319 RESIDENTS 2018 17,196 MAIN RESIDENCES 2017 1.94 PERSONS/ HOUSEHOLD 2017 MOVED IN MOVED OUT MIGRATION BALANCE + 5,397 – 5,1 59 + 238 12,890 M OF CYCLE PATHS 179 DOCTORS* 2 DOG ZONES 23 PLAYGROUNDS 790 PARK BENCHES DEMOGRAPHIC FACTS FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 29.6% WIEDEN 32.0% +2.4% AVERAGE INCOME ** € 24.719,– € 25,325 € 23,365 WIEDEN WIEDEN VIENNA 1,648 2,241 3,987 19,794 5,649 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 41.3 YEARS HOUSING COSTS (PRICE/m2) OWNER-OCCUPIED FIRST OCCUPANCY OTHER ............................................... € 5,400/m2 .................................................................... € 3,900/m2 RENTED FIRST OCCUPANCY OTHER ................................................. € 13.00/m2 ...................................................................... € 1 1.20/m2 INVESTMENT PROPERTY .................. € 2,050 to € 3,900/m2 In this district, 182 changes of ownership were registered in the land registry in 2018, with a total sales value of approx. 84 million. 7 1 0 2 r e b m e c e D f o s a d i l a v , s o r u e n i , l l a t o t n i s e e y o p m e r o f e m o c n i t e n l a u n n a e g a r e v a , 6 1 0 2 r o f s c i t s i t a t s x a t e g a w , a i r t s u A s c i t s i t a t S : e c r u o S * * s t s i t n e d d n a s t s i l a i c e p s , s r e n o i t i t c a r p l a r e n e g l a t o T *
First Vienna Residential Market Report | 2019 26 1050 MARGARETEN WIDE RANGE OF ALTERNATIVES T HE FIFTH DISTRICT HAS become distinctly more upmarket in recent years as reﬂected in demand for housing. Home seekers have discovered the increasing attractiveness of Margareten – not just around the Naschmarkt and Margaretenplatz hotspots, but also around Matzleinsdorfer Platz with prices already rising due to the planned exten- sion to the U2 metro line. Siebenbrunnengasse is currently among the places with new residential development. × Nasch - markt U Kettenbrückengasse U Pilgramgasse Margare- tenplatz U Margaretengürtel Reinprechtsdorfer Straße Wiedner Hauptstraße Matzleinsdorfer Platz HOTSPOTS SPECIAL FEATURES OF DISTRICT The chart hit that brought Falco world fame, “Der Kommissar”, was penned at Ziegelofengasse 37. The Fifth District is still home to the alternative arts scene, which is why the Escapist Sinus-Milieu® has above-average num- bers in the district, a milieu that also appreciates the affordable residential area near the Vienna Beltway. Nearly sixty-ﬁve percent in developed area provides plenty of space for attractive student housing, cultural diversity, and a trendy bar and restaurant scene, which also makes Margareten especially attractive to Digital Individualists. Margareten used to be known as a working-class district, but has since developed into a hip area with plenty of start-ups. Despite green areas occupying only 4.4 percent of the district, there are also many smaller parks providing cool shade on a sun- ny day within the Beltway. These include the popu lar courtyards behind some of the old buildings. Usually hidden away and only familiar to those who know the district, these secret treasures such as Schlossquadrat are ideal for enjoying a summer’s day in the city.
Siebenbrunnengasse 19–21 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 55,640 RESIDENTS 2018 29,249 MAIN RESIDENCES 2017 1.93 PERSONS/ HOUSEHOLD 2017 MOVED IN MOVED OUT MIGRATION BALANCE + 8,967 – 8,886 + 81 30,340 M OF CYCLE PATHS 138 DOCTORS* 9 DOG ZONES 34 PLAYGROUNDS 552 PARK BENCHES DEMOGRAPHIC FACTS FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 29.6% MARGARETEN 37.0% +7.4% AVERAGE INCOME ** € 20,056 € 23,365 VIENNA MARGARETEN 3,033 3,675 6,715 34,521 7,696 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 39.4 YEARS HOUSING COSTS (PRICE/m2) OWNER-OCCUPIED FIRST OCCUPANCY OTHER ......................................................... n/a** .................................................................... € 3,700/m2 RENTED FIRST OCCUPANCY OTHER ..................................................€ 1 1 .80/m2 ..................................................................... € 10.60/m2 INVESTMENT PROPERTY .................. € 1,800 to € 3,000/m2 In this district, 409 changes of ownership were registered in the land registry in 2018, with a total sales value of approx. 107 million. 7 1 0 2 r e b m e c e D f o s a d i l a v , s o r u e n i , l l a t o t n i s e e y o p m e r o f e m o c n i t e n l a u n n a e g a r e v a , 6 1 0 2 r o f s c i t s i t a t s x a t e g a w , a i r t s u A s c i t s i t a t S : e c r u o S * * s t s i t n e d d n a s t s i l a i c e p s , s r e n o i t i t c a r p l a r e n e g l a t o T *
First Vienna Residential Market Report | 2019 28 1060 MARIAHILF CULTURE AND CULINARY DELIGHTS T HE NEWLY PLANNED Mariahilfer Straße has led to an in- creasingly positive development in the Sixth District; the planned extension to the U2 and U5 metro lines contributes even more to the attractiveness of Mariahilf. This trend has already manifested itself in the increased demand for housing around the Gumpendorfer Straße and Getreidemarkt hotspots. There are currently only a few new development projects due to the building density; even so, Mariahilf is still a sought-after residential area. × U Museumsquartier Mariahilfer Straße Getreide- markt Maria - hilfer Straße U Zieglergasse U Neubaugasse Gumpen- dorfer Straße Nasch - markt Mariahilfer Straße Gumpendorfer Straße U Kettenbrückengasse U Westbahnhof U Gumpendorfer Straße U Margaretengürtel U Pilgramgasse HOTSPOTS SPECIAL FEATURES OF DISTRICT Shopping and pleasure are two qualities that the district excels in. Mariahilfer Straße – Austria’s longest shopping street – and Gumpendorfer Straße provide an extensive range of local and individual shops as well as international chain stores. This especially appeals to the High Achievers Sinus-Milieu®, although Postmaterialists also appreciate the many places to meet as well as the cycle paths and pedestrian precincts. Naschmarkt is also popular with High Achievers and a highlight in the district for anyone visiting: every day sees a lively tumult brimming with lifestyle and ﬂair like few other places, with around a hundred and twenty market stalls on an area of 2.3 hectares. From gourmet delicatessens to a variety of dining establishments, ﬁne eaters are guaranteed satisfaction until the late eve- ning hours. Mariahilf also has plenty to offer in the way of culture with an impressive array of museums, exhibitions, and theatres. This especially includes Raimundtheater, which is mainly used for musicals; the theatre was named after the actor and playwright Ferdinand Raimund, who was born at Mariahilfer Straße 45 in 1790. This sheer diversity together with excellent transport links make up for the lack of green areas at just under four percent.
First Vienna Residential Market Report | 2019 30 1070 NEUBAU CREATIVITY AND DESIGN N OT MUCH BUILDING IN NEUBAU: the Seventh District has relatively little new development, especially as it is already very densely built. One worth emphasising is the Über den Linden project – the tallest residential building in the quarter is currently in the planning stage; there are more projects on Zieglergasse. Despite its low development activity, Neubau is still a very popular residential area with a variety of attractions. The Museumsquartier and Neubaugasse hotspots especially attract the young and creative. × U Thaliastraße Burggasse U Volkstheater Muse- ums- quartier U Burggasse-Stadthalle Siebensterngasse Neubaugasse Lindengasse Mariahilfer Straße Schottenfeldgasse U Neubaugasse U Zieglergasse U Westbahnhof HOTSPOTS SPECIAL FEATURES OF DISTRICT Cultural diversity from studios and restaurants to colourful, trendy bars probably best describes the district, which attracts three Sinus- Milieus® in above-average numbers to Neubau: Postmaterialists, High Achievers, and Digital Individualists. The centre of the creative scene with many young designers establishing a reputation can be found between Urban-Loritz-Platz, Neubaugasse and Museumsquartier, which was once home to the royal stables, and is now a magnet to the aﬁcionados of cul- ture. Painter Friedrich Ritter von Amerling was born in 1887 in what’s now known as Amerlinghaus at Stiftgasse 8. The house has sur vived moves to demolish it throughout the years thanks to the efforts of artists, architects, and residents. Today, the house is a self-managed cultural and commu- nications centre, and home to a restaurant as well as the Neubau district museum. Parks such as Weghuberpark and Josef-Strauß-Park provide pleasant recreation opportunities even though green areas are scarce in the district at only 2.3 percent of the total area.
First Vienna Residential Market Report | 2019 32 1080 JOSEFSTADT SMALL IS BEAUTIFUL T HE SMALLEST DISTRICT in Vienna has very little space for free development, which is reﬂected in the prices for the residential space available. Demand is still high with places to meet on Lange Gasse as well as greening activities improving the district. Piaristengasse has one of the few new construction projects; apart from that, structurally sound residential properties are being revitalised and expanded to include high-quality loft extensions. × Alser Straße U Josefstädter Straße Josefstädter Straße Laudon- gasse Josef- städter Straße U Rathaus Lerchenfelder Straße HOTSPOTS SPECIAL FEATURES OF DISTRICT Postmaterialists take the lion’s share of the Sinus-Milieus® in the Eighth District, as they appreciate the ethnically diverse opportunities for eating out, wide range of cultural leisure activities, and the trafﬁc-calming zone. Green areas only account for just under two percent in Josefstadt, but the seventy percent built-up area provides lots of small Viennese “Platzl” squares with an inviting variety of bars and restaurants to relax in. The theatre house in Josefstadt was founded in 1788, and is Vienna’s oldest theatre. Great poets and actors such as Johann Nestroy and Oskar Werner have graced the stage here. The Oskar-Werner-Hof building at Lenaugasse 19 was named after the latter. Emanuel Schikaneder, actor and author of The Magic Flute, spent the last years of his life as a resident of the Eighth District until his death in 1812. Apart from cultural and his- torical highlights that Josefstadt has to offer, the district is also known as a school district with the University of Vienna close by and easy to reach, which is greatly appreciated by many students and families.
First Vienna Residential Market Report | 2019 34 1090 ALSERGRUND ACADEMIC MIX C ULTURE, ART, EDUCATION, AND WATER provide a diverse mix that makes Alsergrund an attractive residential area. The largest project development area in the Ninth District is currently located between the former University of Economics and Franz-Josefs-Bahnhof railway station. Close by the coveted Donau- kanal and Servitenviertel hotspots, Berggasse currently has an exclusive luxury project in construction. The area around the old AKH hospital site still enjoys great popularity. × U Spittelau Franz- Josefs- Bahnhof Franz-Josefs-Bahnhof U Friedensbrücke Donau- kanal U Roßauer Lände Serviten- viertel U Schottenring U Schottentor HOTSPOTS U Nussdorfer Straße Nussdorfer Straße U Währinger Straße U Michelbeuern-AKH U Alser Straße Währinger Straße Old AKH Alser Straße SPECIAL FEATURES OF DISTRICT New neighbourhoods north of Alserbachstraße and student residences make the Ninth District a good place to live for many High Achievers, while the Postmaterialist Sinus-Milieu® is attracted to the number of uni- versities in the area – the Medical University at Vienna General Hospital, Institute of Journalism, and the main university campus at the former Vienna General Hospital site. The wide range of educational institutions and corresponding local scene come with a range of attractions for students. The district has always been a home to the intelligentsia. As an example, physicist and Nobel prize winner Erwin Schrödinger, famous for the Schrödinger’s cat thought experiment, lived at Pasteurgasse 4 for many years. The district is not short on recreational opportunities either: at just over seven percent green space, invitingly cosy places along Donaukanal are ideal for sports and relaxation. Culture aﬁcio nados will also ﬁnd satisfaction in Alsergrund. Museums such as Palais Liechten- stein and Sigmund-Freud-Museum, Volksoper opera house, WUK and the Schauspielhaus theatre provide plenty of variety.
First Vienna Residential Market Report | 2019 36 1100 FAVORITEN A NEW WAY OF LIVING F AVORITEN is Vienna’s most interesting district from the point of view of residential construction as it has the most building and development activity in Vienna: development projects for chic residential and ofﬁce areas in Sonnwendviertel, Quartier Belvedere, and Wienerberg clearly reﬂect the district’s transition from its former working- class roots to a modern residential district with new residential high-rises such as MySky and Hoch 33 to provide additional affordable housing. The Oberlaa hotspot development is proving exciting as it gains popularity with developers on the extension of the U1 metro line. × U Südtiroler Platz Hauptbahnhof Quartier Belve- dere U Sonn- wend- viertel Keplerplatz Reumannplatz U Triester Straße Wiener- berg U Troststraße U Altes Landgut Favoritenstraße U Alaudagasse U Oberlaa Oberlaa SPECIAL FEATURES OF DISTRICT HOTSPOTS A stroll through Favoriten, for example from Reumannplatz towards Hauptbahnhof main railway station, will reveal the diversity of the dis- trict: a variety of cultures and languages combine in nearly two hundred thousand inhabitants making the district unique with the addition of the interplay between traditional and modern. Anyone wishing to experience old Viennese ﬂair might like to visit Viktor-Adler-Markt founded in 1877. The Traditionalist Sinus-Milieu® has its roots in long-established residential areas with attractive housing costs, whereas the Adaptive-Pragmatists will feel at home in the family-friendly atmosphere of less densely built-up neighbourhoods or newly developed residential areas offering everything under one roof. Favoriten is Vienna’s most populous district, and still provides sufﬁcient leisure and recreational activities for every resident, with green areas taking up forty-six percent of the total area. These in- clude numerous parks, the Wienerberg local recreation area, Laaer Berg with the Böhmischer Prater, which was almost completely destroyed in World War II, and the Oberlaa spa gardens.
First Vienna Residential Market Report | 2019 38 1110 SIMMERING NATURE MEETS MODERNITY G OOD NEWS for home seekers: Simmering is one of the most affordable residential districts in Vienna, and has several development areas to offer. There is active construction work taking place along Simmeringer Hauptstraße, the St. Marx hotspot easily reached using the U3 metro line, and on Lorystraße. The former Siemens site between Leberstraße and Brehmstraße has another major project with many residential units in construction. Kaiserebersdorf is a hotspot in the district with its quiet residential area. × U Gasometer St. Marx U Zippererstraße U Enkplatz Geiselbergstraße U Simmering U3 metro line Grillgasse A4 Simmeringer Hauptstraße Kaiser- ebers - dorf Kaiserebersdorf HOTSPOTS SPECIAL FEATURES OF DISTRICT The Eleventh District provides city areas with excellent infrastructure alongside very rural areas with green spaces at just under forty-two percent. These areas are used for agricultural and recreational pur poses. For example, the area around Schloss Neugebäude palace is a popular destination for an excursion. A wide variety of activities for young and old are on offer the whole year around, ranging from a medieval festi- val, outdoor cinema, and Oktoberfest to a Christmas market. Simmering has three Sinus-Milieus® in above-average proportions: Traditionals and Adaptive-Pragmatists appreciate the district’s neighbourhoods and family-oriented housing estates that go back years, while the affordable shopping opportunities such as at the EKZ Simmering shopping centre and Simmeringer Hauptstraße are attractive to the Consumption Ori- ented. Another place for shopping is Simmering market, which dates back to 1909 and was almost completely destroyed at the end of World War II. Anyone wishing to take a small trip into the past might be interest- ed in a visit to Vienna’s central cemetery. Apart from striking buildings in Art Nouveau style, many famous Austrians found their resting place here.
First Vienna Residential Market Report | 2019 40 1120 MEIDLING DOWN SOUTH M EIDLING HAS SEEN high demand for housing, especially in the area between Schönbrunner Straße and Wilhelmstraße. The location close to the U6 and U4 metro lines and the River Wien is attractive for developers. The City Apartments an der Wien pro- ject completed here last year is one example. Arndtstraße 66 currently has a project in construction, and plans for a multifunctional community project in the former Komet site are making a positive contribution to further development in the district. Wildgarten, a large residential project to accommodate more than 2,300 people in the future, is currently being built on Rosenhügel, one of the foothills of the Wienerwald hills. Other popular residential areas are Tivoliviertel and the Hetzendorf hotspot, which is especially popular with families. × U Schönbrunn U Längenfeldgasse U Meidlinger Hauptstraße Grünbergstraße U Niederhofstraße Meid- linger Haupt- straße Tivoli- viertel Hetzen- dorf Hetzendorfer Straße Hetzendorf U Philadelphiabrücke Meidling Wienerbergstraße U Tscherttegasse Alt- manns- dorf U Am Schöpfwerk HOTSPOTS SPECIAL FEATURES OF DISTRICT Traditionals and the Consumption Oriented are the dominant Sinus- Milieus® in the Twelfth District. The former appreciate Meidling for its affordable housing in public housing estates. Traditionals are also drawn to the attractive prices and the small-town atmosphere of the Twelfth District. While urban bustle is a typical feature in the area around Meidlinger Hauptstraße and Meidlinger Markt, areas such as Altmanns- dorf and Hetzendorf have more village-like appeal. Schloss Hetzendorf is a baroque palace with a rich history; it is home to a church that is not recognisable from the outside as well as restaurants and the Vienna Fashion School that opened several years ago. Compared to other districts of this size, Meidling has a low proportion of green areas at 12.5 percent. However, the district does have good transport links to nearby recreational areas such as Schloss Schönbrunn palace in Hietzing, providing a variety of recreational and leisure activities in the palace gardens.
First Vienna Residential Market Report | 2019 42 1130 HIETZING RESIDENCE M ANSIONS AND PARKS dominate in the Thirteenth Dis- trict. This is also reﬂected in the cost of housing. Mansion plots are increasingly used for apartment buildings to create more housing units, and also because of the high land prices. These ﬁne projects are in good locations such as Jagdschlossgasse. The Speising and Lainz areas show more activity in terms of development. The area around Ober St. Veit is another popular hotspot. × Wolf in der Au U Hütteldorf U Ober St. Veit U Unter St. Veit Ober St. Veit Lainzer Straße Lainz U Hietzing Alt- Hietzing Preyergasse/Speising Grünbergstraße HOTSPOTS SPECIAL FEATURES OF DISTRICT Maria Theresa chose Schloss Schönbrunn palace as her summer resi dence around the year 1740, making it the centre of royal life. This has had lasting effects that can be seen and felt in the high-class district of Hietzing. Hietzing is also Vienna’s “greenest” district with more than seventy percent of the whole district taken by green areas. The Wienerwald hills extend across large parts of the district, providing a home for the Lainzer Tiergarten park known for its rich wildlife living freely on the grounds, as well as the Hermesvilla palace. Empress Elisabeth (Sisi) lovingly named it the Palace of Dreams. Even now, it shows glimpses into how the royals lived, and is also used for art exhibitions and weddings. Two Sinus-Milieus® are dominant in the Thirteenth District: Postmaterialists especially appreciate the extensive green areas already mentioned as well as the architectural variety of the district, while the Established are attracted to the residential area with its traditional mansion quarters and high-class restaurants.
Mantlergasse 18 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 54,265 RESIDENTS 2018 26,738 MAIN RESIDENCES 2017 2.04 PERSONS/ HOUSEHOLD 2017 MOVED IN MOVED OUT MIGRATION BALANCE + 5,583 – 5,360 + 223 58,650 M OF CYCLE PATHS 355 DOCTORS* 2 DOG ZONES 33 PLAYGROUNDS 527 PARK BENCHES DEMOGRAPHIC FACTS FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 29.6% -9.3% HIETZING 20.3% AVERAGE INCOME ** € 29,357 HIETZING € 23,365 VIENNA 3,128 4,364 5,391 28,496 12,886 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 44.3 YEARS HOUSING COSTS (PRICE/m2) OWNER-OCCUPIED FIRST OCCUPANCY OTHER ............................................... € 5,700/m2 ..................................................................... € 4,150/m2 RENTED FIRST OCCUPANCY OTHER ................................................. € 12.80/m2 ..................................................................... € 1 1.00/m2 INVESTMENT PROPERTY .................. € 1,950 to € 3,600/m2 In this district, 459 changes of ownership were registered in the land registry in 2018, with a total sales value of approx. 159 million. 7 1 0 2 r e b m e c e D f o s a d i l a v , s o r u e n i , l l a t o t n i s e e y o p m e r o f e m o c n i t e n l a u n n a e g a r e v a , 6 1 0 2 r o f s c i t s i t a t s x a t e g a w , a i r t s u A s c i t s i t a t S : e c r u o S * * s t s i t n e d d n a s t s i l a i c e p s , s r e n o i t i t c a r p l a r e n e g l a t o T *
First Vienna Residential Market Report | 2019 44 1140 PENZING LIVING IN THE WEST T HE FOURTEENTH DISTRICT is in great demand with fami- lies due to its favourable transport links and large green areas. Demand is especially high along Linzer Straße and Hütteldorfer Straße. Penzing still has a lot of development potential. For example, there are interesting developments in the urban area, for instance around the Körnerkaserne barracks, and also the former Siemens building on Penzinger Straße. There are also attractive projects for investors such as on Breitenseer Straße. Wolfersberg and the area around Breitensee are amongst the district’s hotspots. × Mauerbachstraße Amundsenstraße Weidlingau Hadersdorf Wolfers- berg Wolf in der Au Linzer Straße U Hütteldorf Breiten- see U Ober St. Veit Hadikgasse Hütteldorfer Straße Breitensee U Johnstraße Penzing U Hietzing HOTSPOTS SPECIAL FEATURES OF DISTRICT The main Sinus-Milieus® in Penzing are the Established and Conservatives. The main reason for this is the peaceful location on the edge of the city with good connections to the motorway, the highly traditional buildings, attractive residential areas with detached properties, and the high-value new building projects. The Fourteenth District has a lot to offer in the way of leisure and recreation: around sixty-one percent of the total area of the district is made up of green areas. These include Hohe Wand Wiese, which has a summer toboggan run and a mountain bike trail centre. Built in 1918, the Technical Museum has models and exhibits from the history of technology. Cultural history buffs will also ﬁnd satisfaction: Gustav Klimt, the world-famous painter and cofounder of the Vienna Secession, was born at Linzer Straße 247 in 1861. In 1972, Ernst Fuchs, also an artist, purchased the Otto-Wagner-Villa mansion designed by the architect of the same name in 1888, rescuing it from dilapidation and opening it to the public by con- verting it into a museum.
First Vienna Residential Market Report | 2019 46 1150 RUDOLFSHEIM- FÜNFHAUS FUSION A CHANGE OF IMAGE FROM A PROBLEM DISTRICT to a residential district with ever increasing popularity and housing that is still affordable has made Rudolfsheim-Fünf- haus attractive to a younger market. Apart from that, the district beneﬁts from its central location, infrastructure, and good transport connections. The development of hotspots such as Nibelungenviertel, Sechshaus, and Rustenviertel have also played a part in the increasing quality of living. New building projects and loft conversions while renovating old buil- dings have created new housing opportunities. × Nibe- lungen- viertel Hütteldorfer Straße U Johnstraße U Schweglerstraße Felberstraße West- bahn- hof U Westbahnhof Mariahilfer Straße Linzer Straße Rustengasse Reindorf-/ Rusten- viertel U Gumpendorfer Straße HOTSPOTS SPECIAL FEATURES OF DISTRICT Rechte Wienzeile U Meidlinger Hauptstraße Reindorfgasse Sechs- haus U Längenfeldgasse U Schönbrunn Urban, central, and diverse are the best ways of describing the Fifteenth District. The area around the Stadthalle to the north of the Westbahnhof railway station is especially lively, providing highly contrasting shopping opportunities in Lugner City and Reindorfgasse. Schwendermarkt market has served for local supplies since 1833, and is currently undergoing revitalisation. Two working groups have been dedicating themselves to extending the range of attractions such as greening public spaces; the Fifteenth District has only just under nine percent green areas. Three Sinus-Milieus® are equally dominant in Rudolfsheim-Fünfhaus: Escap- ists and Adaptive-Pragmatists appreciate the plentiful sports, enter- tainment, and shopping facilities that are also suitable for the main- stream, and the Consumption Oriented beneﬁt from the affordable cafés and restaurants as well as solid low-cost housing. The Fifteenth District is a good alternative to the other districts within the Vienna Beltway that have become more expensive. Residents in the district have Auer-Welsbach-Park and Schmelz with the allotments at the venerable Schutzhaus in the centre available for local recreation.
First Vienna Residential Market Report | 2019 48 1160 OTTAKRING A COLOURFUL MIX Y PPENPLATZ is still one of the hotspots of the district, but the hype surrounding the hip area and now increasingly spreading onto adjacent streets has calmed down somewhat. Ottakring has a very different structure between the Beltway and Wienerwald hills; the exclusive locations on Wilhelminenberg and Gallitzinberg are in especially high demand. A new residential project is currently emerging on Roseggergasse. × Wilhel- minen- berg Gallitzin- berg Hernals Hernalser Hauptstraße Wilhelminenstraße HOTSPOTS Thaliastraße U Ottakring U Kendlerstraße U Alser Straße Yppen- platz U Josefstädter Straße U Thaliastraße SPECIAL FEATURES OF DISTRICT Multiculturalism is a key feature in the Sixteenth District, with mainly the Escapist Sinus-Milieu® feeling at home here. Escapists appreciate the many opportunities for shopping and eating out that the district has to offer, including those on Thaliastraße and Ottakringer Straße, as well as the colourful melting pot in the trendy pubs and bars near the Beltway and the hip neighbourhoods such as Brunnenmarkt. Anyone looking for a more peaceful place to live, might strike lucky with high recreational value in the residential areas around Wilhelminenberg. Around thirty percent of the total area of the district is covered by green areas. One of the many urban hiking trails in Vienna leads across from Ottakring metro station through the district up to Wilhelminenberg Castle, which is surrounded by twelve thousand square metres of parkland offering a magniﬁcent view over the capital. One of the cultural highlights of the Sixteenth District is the Tschauner Bühne theatre. Founded in 1909, the theatre is currently the last regularly used impromptu theatre in Europe.
First Vienna Residential Market Report | 2019 50 1170 HERNALS GREEN SUBURB T HE U5 METRO LINE extension from Karlsplatz to Elterlein- platz has brought new impetus to the Seventeenth District, making a substantial increase in price levels and construction activity likely in the next few years. Similar to Ottakring, Hernals also has a gap between the urban Beltway area and the green areas around the Wienerwald hills. Long-established neighbourhoods such as the Neuwaldegg and Heuberg hotspots are still among the most popular residential areas. × Neu- waldegg Heuberg Alszeile Hernalser Hauptstraße Hernals Wattgasse Elterlein- platz U Alser Straße HOTSPOTS SPECIAL FEATURES OF DISTRICT Hernals is mainly home to the Escapist Sinus-Milieu®, which especially appreciates the mix of cultures and lifestyles. Attractively priced housing and proximity to the alternative pub scene in the neighbourhood and nearby Beltway appeal to this group. Even so, Hernals can be described as a classic suburb with its peaceful residential atmosphere found main- ly in the northwest close to the Wienerwald hills, which takes up a con- siderable proportion of the green areas that account for more than half of the district. In contrast to other districts, Hernals does not have a signiﬁcant number of museums or theatres, but it does feature a unique cultural scene with a colourful range of small variety shows, artists’ studios and galleries to suburban wine taverns typical of Vienna. Andreas Schindlauer, who was born at Mariengasse 7 in 1892, was known for his Viennese song compositions including “Du mein liebstes Hernals” in tribute to the district.
First Vienna Residential Market Report | 2019 52 1180 WÄHRING UPMARKET LIVING T HE WHOLE DISTRICT OF WÄHRING is one of the most sought-after and expensive residential areas in Vienna. Demand has been consistently high for years, whether in convenient loca- tions such as the popular Kutschkermarkt or quieter green areas such as Währinger Cottage or the area around Türkenschanzpark. Overall, there is little in the way of construction activity here. Rather, exist- ing buildings are being renovated and extended with modern high-quality lofts. Examples include individual housing and revitalisation projects such as on Gersthofer Straße. × Pötz- leins- dorf Schaf- berg Krottenbachstraße Gersthofer Straße Türken- schanz- park Währinger Cottage Gersthof Währinger Straße U Nußdorfer Straße Kutsch- kermarkt U Währinger Straße HOTSPOTS SPECIAL FEATURES OF DISTRICT Währing brings young and old together in a family-oriented atmosphere. Easy access to the inner districts makes the Eighteenth District attrac tive to the Postmaterialist Sinus-Milieu®. Postmaterialists also appreci ate the spacious green areas (twenty-seven percent of the total area of the dis- trict) such as Türkenschanzpark and Pötzleinsdorfer Schlosspark. With a history going back to 1885, Kutschkermarkt is considered to be the beating heart of the district, and one of the last street markets of Vienna with its many market stalls and places to eat out. There are Wilhelminian-style houses in impressive numbers on the Beltway in contrast to a “cottage quarter” based on English architecture of the day in side Währing from around 1873. Many members of the upper mid dle class currently call this up market neighbourhood home. Poet Ar thur Schnitzler lived at Sternwar- testraße 71 for nearly twenty years before his death in 1931, and penned many of his famous plays, novels, and short stories during that time.
Gersthofer Straße 119 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 51,647 RESIDENTS 2018 26,538 MAIN RESIDENCES 2017 1.97 PERSONS/ HOUSEHOLD 2017 MOVED IN MOVED OUT MIGRATION BALANCE + 6,71 2 – 6,333 + 379 26,650 M OF CYCLE PATHS 338 DOCTORS* 3 DOG ZONES 34 PLAYGROUNDS 1,598 PARK BENCHES DEMOGRAPHIC FACTS FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 29.6% -1.4% WÄHRING 28.2% AVERAGE INCOME ** € 25,560 WÄHRING € 23,365 VIENNA 3,079 4,050 5,831 29,595 9,092 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 40.9 YEARS HOUSING COSTS (PRICE/m2) OWNER-OCCUPIED FIRST OCCUPANCY OTHER ............................................... € 5,550/m2 .................................................................... € 3,800/m2 RENTED FIRST OCCUPANCY OTHER ................................................. € 12.60/m2 ...................................................................... € 10.80/m2 INVESTMENT PROPERTY ................. € 2,500 to € 4,050/m2 In this district, 473 changes of ownership were registered in the land registry in 2018, with a total sales value of approx. 187 million. 7 1 0 2 r e b m e c e D f o s a d i l a v , s o r u e n i , l l a t o t n i s e e y o p m e r o f e m o c n i t e n l a u n n a e g a r e v a , 6 1 0 2 r o f s c i t s i t a t s x a t e g a w , a i r t s u A s c i t s i t a t S : e c r u o S * * s t s i t n e d d n a s t s i l a i c e p s , s r e n o i t i t c a r p l a r e n e g l a t o T *
First Vienna Residential Market Report | 2019 54 1190 DÖBLING EXCLUSIVE LIVING S IEVERING, GRINZING AND OBERDÖBLING are hotspots that are especially popular amongst high earners and families due to its exclusive green area. The price levels reﬂect the high value and generous living spaces sought after in the Nineteenth District. Interesting new construction projects include Grinzinger Allee, but there are also exciting opportunities for development and corresponding demand in locations near the Beltway, such as along Heiligenstädter Lände. × Cobenzlgasse Grinzing Nußdorf Sievering Sieveringer Straße Hohe Warte U Heiligenstadt Heiligenstädter Straße Krottenbachstraße Ober - döbling Oberdöbling Krottenbachstraße U Spittelau Döblinger Hauptstraße U Nußdorfer Straße HOTSPOTS SPECIAL FEATURES OF DISTRICT Alongside Hietzing and parts of Währing, Döbling is considered to be an uptown district par excellence. Mainly the Established and Post- materialist Sinus-Milieus® can be found here. The Established are at- tracted to the mansion neighbourhoods, high-quality shopping, and exclusive traditional restaurants, whereas Postmaterialists appreciate the quiet trafﬁc and spacious green areas that account for around ﬁf- ty-two percent of the total area of the district. This comes with a wide variety of leisure attractions: Hohe Warte, Kahlenberg and Leopoldsberg hills are popular destinations for an excursion, and the Schmetterlings- pfad (butterﬂy path) at Cobenzl is also worth a visit. A vintners’ museum appropriate to the surrounding wine region can be found in Döbling. Famous for its wine taverns, the district has a lot to offer for wine lovers, and is devel oping into a place to be with the Neustifter Kirtag festival in August. Vienna’s oldest restaurant has a history going back to the twelfth century. The Der Pfarrwirt restaurant on Pfarrplatz is also worth seeing. Döbling has a surprisingly diverse population structure due to the plentiful public and association housing estates.
First Vienna Residential Market Report | 2019 56 1200 BRIGITTENAU SO CLOSE TO THE DANUBE T HE NORDWESTBAHNHOF NEIGHBOURHOOD is emerg- ing on an area of forty-four hectares at the border between Leopoldstadt and Brigittenau, a development that will espe- cially beneﬁt the Twentieth District. In particular young people that might otherwise appreciate the beneﬁts of the Second and Ninth Districts are attracted to this quarter due to its more affordable housing. The land next to Millennium Tower is to be developed with another residential high-rise. This also reﬂects in the activities around Handelskai. × Adalbert-Stifter-Straße U Handelskai Handels- kai U Spittelau U Jägerstraße Traisengasse U Dresdner Straße Brigittaplatz HOTSPOTS U Friedensbrücke Augarten SPECIAL FEATURES OF DISTRICT Nord- westbahn- hof Together with Leopoldstadt, Brigittenau forms an island between Donau- kanal and the Danube. The Sinus-Milieu® of the Consumption Oriented especially appreciates the affordable prices and traditional café culture, while the good transport links and the many sports opportunities on the green spaces that take up almost thirty percent of the district area attract Adaptive-Pragmatists. Traditionals live here in equally strong numbers as they feel particularly comfortable in a stable neighbourhood. The Twentieth District has an interesting historically developed infrastructure as reﬂected by the multiculturalism of Brigittenau: the district has much to offer in the way of long-established handicraft businesses, traditional restaurants, and also international shops and restaurants. The 202- metre Millennium Tower is home not only to numerous ofﬁces, it is also a popular place for leisure and recreation: apart from the plenty places to eat out, the district has a cinema, shopping centre, and a selection of hip bars. The nearby Danube Island in the Danube has high recreational value for walks and relaxation.
First Vienna Residential Market Report | 2019 58 1210 FLORIDSDORF AREA WITH MUCH POTENTIAL F LORIDSDORF IS ONE OF THE DISTRICTS with the most free space for new construction projects. This provides inter- esting prospects for developers of efﬁciently arranged, affordable housing projects in demand around the new Krankenhaus Nord, or northern hospital. There are also positive developments with plenty of new construction work along Brünner Straße around the “Am Spitz” area. The area around the Old Danube is in especially high demand, making it an exciting area for additional project development. × Strebersdorf Brünner Straße Prager Straße Leo- poldau U Leopoldau Jedlersdorf Siemensstraße U Großfeldsiedlung A22 Brünner Straße U Aderklaaer Straße Am Spitz U Floridsdorf U Neue Donau Alte Donau HOTSPOTS SPECIAL FEATURES OF DISTRICT Together with Donaustadt, the Twenty-First District forms that part of Vienna known as Transdanubia. Village structures such as the area around Stammersdorf known for its Stürmische Tage wine festival in the autumn, as well as extensions to medical care facil ities mainly attract the Traditionals Sinus-Milieu®, while Adaptive-Pragmatists are attracted to the area near Danube Island due to its variety of leisure facilities and family- friendly housing developments. The New Middle Class also shows a strong presence here as they appreciate the harmonious neighbourhoods on the outskirts. The more rural areas with their winegrowers’ inns and cellar alleys might dominate the district, but public housing such as Großfeld- siedlung provide a more diverse social environment. There is still plenty of room to enjoy an unconstricted life above the Danube with green areas accounting for nearly forty-four percent. There is a remarkable number of historical street names here, such as the Doderergasse named after the writer Heimito von Doderer.
Floridusgasse 50 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 162,779 RESIDENTS 2018 76,669 MAIN RESIDENCES 2017 2.13 PERSONS/ HOUSEHOLD 2017 MOVED IN MOVED OUT MIGRATION BALANCE + 15,634 – 12,028 + 3,606 169,620 M OF CYCLE PATHS 246 DOCTORS* 10 DOG ZONES 85 PLAYGROUNDS 1,060 PARK BENCHES DEMOGRAPHIC FACTS FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 29.6% -6.5% FLORIDSDORF 23.1% AVERAGE INCOME ** € 22,338 FLORISDORF € 23,365 VIENNA 10,891 15,059 18,798 90,279 27,752 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 40.5 YEARS HOUSING COSTS (PRICE/m2) OWNER-OCCUPIED FIRST OCCUPANCY OTHER ............................................... € 4,050/m2 .................................................................... € 2,750/m2 RENTED FIRST OCCUPANCY OTHER ..................................................€ 10.80/m2 .......................................................................€ 9.70/m2 INVESTMENT PROPERTY .................. € 1,250 to € 2,400/m2 In this district, 755 changes of ownership were registered in the land registry in 2018, with a total sales value of approx. 175 million. 7 1 0 2 r e b m e c e D f o s a d i l a v , s o r u e n i , l l a t o t n i s e e y o p m e r o f e m o c n i t e n l a u n n a e g a r e v a , 6 1 0 2 r o f s c i t s i t a t s x a t e g a w , a i r t s u A s c i t s i t a t S : e c r u o S * * s t s i t n e d d n a s t s i l a i c e p s , s r e n o i t i t c a r p l a r e n e g l a t o T *
First Vienna Residential Market Report | 2019 60 1220 DONAUSTADT SKYLINE ON THE BANKS OF THE DANUBE D ONAUSTADT IS ONE OF THE DISTRICTS with the heaviest growth and lots of construction work taking place. Large open spaces provide room for new construction pro- jects along the Old Danube and around Wagramer Straße, and espe- cially at Seestadt Aspern with additional privately financed housing projects soon to be completed. The Danube Flats development will add another residential high-rise to the skyline. These and other pro- jects such as on Konstanziagasse are particularly attractive to investors. U Rennbahnweg U Kagraner Platz Alte Donau Donau- Wagramer Straße U Kagran U Alte Donau U Kaisermühlen VIC City U Donauinsel U Aspernstraße U Hardeggasse U Donauspital U Stadlau U Hausfeldstraße U Aspern Nord U Seestadt Seestadt Aspern U Donaustadtbrücke Rafﬁneriestraße HOTSPOTS SPECIAL FEATURES OF DISTRICT Seestadt Aspern is a place to go for Adaptive-Pragmatists with its diverse recreational facilities and metro connection, while the Established Sinus-Milieu® prefers the rather more peaceful residential areas in the more rural parts. Members of the New Middle Class also show a strong presence in Donaustadt, as they appreciate the district’s time-honoured residential buildings with plenty of room for the whole family. Green space at more than sixty percent makes Donaustadt attractive, and not only for the people living there: the Old Danube and Lobau are hugely popular across Vienna. The Twenty-Second district’s proximity to these recreational areas and good transport links with the extended U1 and U2 metro lines increase the perceived attractiveness of the district com pared to Florids- dorf. Donau Zentrum – Vienna’s largest shopping centre – and the ad- joining Donau Plex see a lively hustle and bustle every day. This area has not only local shops and services but also a di verse shopping experience, a cinema, and opportunities to eat out or go out on the town. One of the cultural highlights of the district is the Wiener Orpheum staging variety shows, concerts, readings, and so on around 280 days per year.
First Vienna Residential Market Report | 2019 62 1230 LIESING MORE THAN JUST LIVING L IESING FEATURES uptown residential areas, on the one hand, and large areas for affordable housing, on the other. Former indus- trial sites have been rezoned into residential housing neighbour- hoods such as the numerous development projects on Breitenfurter Straße, which is slowly developing into a hotspot. One example is the In der Wiesen and RIVUS development area. Apart from that, there is high demand along the U6 metro line. × Mauer Breitenfurter Straße U Alterlaa Atzgersdorf Erlaaer Straße Breitenfurter Straße U Erlaaer Straße Altmannsdorfer Straße U Perfektastraße Liesinger Platz Liesing Brunner Straße U Siebenhirten HOTSPOTS SPECIAL FEATURES OF DISTRICT The Twenty-Third District shows great potential for growth, so an increase in price levels is to be expected in favourable locations. This and the good connection to high-quality destinations for an excursion make Liesing especially attractive to the Established Sinus-Milieu®. Conserva tives are also well-represented here, as they appreciate the highly tradi tional area and proximity to the imperial atmosphere of Hietzing, and also Schloss Rodaun and Schloss Erlaa palaces. The quality of living that Liesing has to offer is difﬁcult to ignore with its green areas accounting for more than thirty-two percent – the Wienerwald hills alone occupy fourteen percent of the area of the district. With the addition of Liesingbachtal, the Twenty- Third District has high leisure and recreational value. The “eight villages of the Twenty-Third District” going back to the post-war period could not be more diverse: some areas feature village-like structures with vineyards and wine taverns, some have developed into residential areas with good connections to the public infrastructure, and some have remained as the industrial areas they used to be.
First Vienna Residential Market Report | 2019 74 CLOSING WORDS VIENNA – MORE THAN JUST A CITY VIENNA IS HARD TO TOP in its diversity with its lovingly renovated buildings bearing the secrets of bygone days, innovative architecture, and modern trendy districts that are popular amongst young and old. Markets and cafés with their old Viennese traditional appeal combined with multiculturalism have their own distinctive ﬂair. Royal parks and gardens with a range of arts and culture – the charm of Vienna is irresistible to anyone who has been here before, a city that has already been selected as having the world’s highest quality of living nine times in a row according to the latest Mercer Study. Vienna’s inhabitants enjoy high social standards and a well-developed infrastructure in constant optimisation, and above-average quality of living. There will be new pro- jects for residential developers due to the constant increase in Vienna’s population. A PLACE TO CALL HOME is a fundamental human right. Require- ments on housing are as varied and individual as we are. But they all have one thing in common: affordability always plays a role. Vienna is currently deﬁnitely attractive to owner-occupiers and tenants alike on the European ranking according to the 2018 Deloitte Property Index, but it remains to be seen how residential prices develop with regard to increasing construction costs and other factors. THE VIENNESE HOUSING MARKET shows a lot of development potential, and we, the BUWOG Group and EHL Immobilien, have made it our business to take an active part in shaping this market. We are proud of the opportunity to provide our combined know-how, and demonstrate the latest developments in this year’s First Vienna “The Viennese housing market shows a lot of development potential, and we, the BUWOG Group and EHL Immobilien, have made it our business to take an active part in shaping this market.” Residential Market Report. Carefully researched facts and ﬁgures give an overview of the current situation in all twenty-three districts. Esti- mates and forecasts of, and for, trends and hotspot areas give an impression of what the future holds for Vienna. All this information supports home seekers and investors in selecting an ideal residential property. THE BUWOG GROUP AND EHL IMMOBILIEN have decades of experience on the housing market, and both place high importance on environmentally sustainable activity on the market, as living itself is a long-term proposition. ×
75 First Vienna Residential Market Report | 2019 GLOSSARY COMMENTS AND TERMINOLOGY SINUS-MILIEUS® SINUS-MILIEUS® are target groups that actually exist; the model groups people according to their attitudes and lifestyles as based on more than three decades of social research, and includes basic value preferences and attitudes of people towards work and recreation, fam- ily and partnership, consumption and politics in a holistic approach encompassing all factors relevant to daily life. Sinus-Milieus® look into actual living environments by reference to a basic orientation from which an individual will develop as a young person and remain within a stable structure over the coming years without immediate or sudden change. THE SINUS-MILIEU® MODEL is subject to continuous adjustment in response to socio-cultural changes in society as based on trend research from INTEGRAL-SINUS and research into people’s lifestyles.
First Vienna Residential Market Report | 2019 76 APART FROM CONSUMER BEHAVIOUR and lifestyle, fundamen- tal underlying attitudes play a major role in shaping living environments. Every Viennese district has its own speciﬁc features that appeal to some groups more than others. This report draws on those Sinus-Milieus® speciﬁcally prominent for each individual district compared to the Vienna average. These milieu concentrations have been calculated for the entire district in question, so deviations in individual parts of the district are entirely possible. THE DIAGRAM ON PAGE 75 shows the current group landscape with each group’s position in Austrian society. The X-axis shows basic orientations in each group within society. Traditional values (A) indicate the pursuit of order and personal responsibility. Modern values (B) in- clude the need for individualisation and self-realisation, amongst other values. Re-orientation (C) reﬂects modern society’s distinction between pragmatism and multiple optionality as well as refocusing and looking for new syntheses. The Y-axis shows the social situation of each group- ing as distinguished by upper class (1), middle class (2), and lower class (3). A higher position for a certain group on the Y-axis reﬂects high le- vels of education, income, and professional situation, while positioning towards the right reﬂects more current socio-cultural basic orientation in the respective group. Refer to www.integral.co.at for more information on Sinus-Milieus®. × SMALL PRINT comes in large print. Please ﬁnd below comments and explanations of some terms used in this report. ALL PRICES QUOTED FOR THE VARIOUS DISTRICTS OF VIENNA refer to square metres of net floor area (i.e. not including loggias, etc.). ALL REFERENCES TO PERSONS in this text are intended to refer to both genders. SALES PRICES are full ownership prices per square metre of net ﬂoor area, not including service and maintenance costs. SOURCE DATA RENTS are quoted net, exclusive of taxes and service charges. DEFINITIONS THE TERM “FIRST OCCUPANCY“ in relation to prices refers to new- ly built apartments, or older buildings after complete refurbishment. “OTHER“ refers to tenancies and sales of second-hand homes. THE TERM “HOTSPOTS“ refers to areas and quarters in the various districts where there is a particularly high demand for properties from both prospective tenants and buyers. × EVERY EFFORT has been made to ensure the accuracy of information in this report. Certain topics are, however, quite complex and subject to constant change. The housing market in Vienna is extremely dynamic and prices vary greatly from area to area. While certain locations are in high demand at the moment, this might change quickly. IN OUR ANALYSIS OF THE HOUSING MARKET, we relied mainly on up-to-date data provided by Statistics Austria, the state statistics ofﬁce, and information obtained from the City Government of Vienna, unless a different source is named. PRICES IN AUSTRIA, older buildings (i.e. non-subsidised buildings constructed with planning permission before 1953 and owner-occupied houses built with planning permission prior to 1945) are subject to the full scope of the Austrian Tenancy Act. This means that rents are not subject to normal market forces of supply and demand, but are basically ﬁxed (to what is known as an “adequate rent“ or “guideline rent“). Such rents are not taken into account in our report.
IMPRINT PUBLISHED BY: BUWOG Group GmbH Hietzinger Kai 131, 1130 Wien, Austria Phone: + 43 1 878 28-1000 E-mail: ofﬁce@buwog.com www.buwog.com EHL Wohnen GmbH Prinz-Eugen-Straße 8–10, 1040 Wien, Austria Phone: + 43 1 512 76 90 E-mail: email@example.com www.wohnung.at EDITORIAL TEAM BUWOG Group editorial team DI Elisabeth Bartos-Stock Peter Friedrich Berchtold Dr. Ingrid Fitzek-Unterberger Natascha Toegl, MA EHL Immobilien editorial team DI Sandra Bauernfeind FRICS Mag. (FH) David Breitwieser MRICS Ing. Elisabeth Hartwig Melanie Kloster, MA TOGETHER WITH INTEGRAL Markt- und Meinungsforschungsges.m.b.H. Partner of SINUS Heidelberg – Berlin – Singapore Licence partner: Probszt Advisory Mohsgasse 1, 1030 Wien, Austria Phone: +43 1 799 19 97 0 IDEA, CONCEPTION AND GRAPHIC DESIGN M’CAPS Group Probusgasse 1, 1190 Wien, Austria Phone: +43 1 328 66 60 www.mcaps-group.com TRANSLATION ConText® Hindenburgstraße 10, 55118 Mainz, Germany www.context.de PHOTO-CREDITS Status: January 2019 Photo credits: dreizueins GmbH (Cover, S. 7), BUWOG/JAMJAM (S. 2, 3), Stephan Huger (S. 4), EHL (S. 5) Errors exempted. The information and forecasts in this report are given to the best of our knowledge. Photo credits for Sinus-Milieus®: Shutterstock (Artazum, Breadmaker, Photographee.eu), Plainpicture (Conny Fridh), Fotosearch (Marc Gerritsen), M‘CAPS Group
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