FIRST VIENNA RESIDENTIAL MARKET REPORT EDITION 2020
EDITORIAL DEAR READER, we are proud to present the First Vienna Residential Market Report, the eighth edition of our joint publication. THE RESIDENTIAL MARKET in Vienna is markedly different from that of many other cities, which is partly due to the numerous hous- ing subsidy programmes and therefore also largely affordable housing. VIENNA IS ALSO a step ahead in terms of living quality, earning it the title of world’s most liveable city for the tenth year in a row according to the Mercer Study. The British Economist ranking conﬁrmed this in 2019 as well as in 2018. THE AUSTRIAN CAPITAL FACES a series of challenges in the resi- dential market despite, or even because of, the city’s great popularity. For example, the population has been growing more slowly than in previous years, but this growth has been continuous and is set to rise to around two million by the year 2027. WE AT BUWOG AND EHL IMMOBILIEN deal with the opportunities, risks and trends that impact the Viennese residential market on a daily basis: what needs and requirements will dominate residential space in the future, and where do we start in tackling the land shortages and rising construction costs? These are just some of the questions facing us; additional factors that need to be considered include sustainability, digitisation, and cross-generational living. Building residential high-rises is one possible option, but it will not solve all of the city’s residential issues. We will explore this topic in more detail on pages 13 and 14 of this publication. “We deal with the opportunities, risks and trends that impact the Viennese residential market on a daily basis.” OUR MAIN AIM at BUWOG as Vienna’s largest private housing asso- ciation and EHL Immobilien as a leading real-estate service company is to share our experience and expertise in this report. We have written it to provide a more in-depth, comprehensive view of the developments, prospects, and peculiarities of the Viennese residential market while of- fering help in ﬁnding accommodation. WE WISH YOU an enjoyable browse through the First Vienna Residen- × tial Market Report for 2020. YOURS SINCERELY Mag. Daniel Riedl FRICS Member of the Management Board, Vonovia SE Andreas Holler, BSc Managing Director, BUWOG Group GmbH Mag. Michael Ehlmaier FRICS Managing partner, EHL Immobilien GmbH DI Sandra Bauernfeind FRICS Managing partner, EHL Wohnen GmbH
03 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 INTRODUCTION OUR MOTIVATION BUWOG AND EHL share comprehensive know-how and experience in the property business from their long-standing presence in the real- estate market. This eighth edition of the First Vienna Residential Market Report combines the extensive expert knowledge of the two companies. WHAT MAKES the First Vienna Residential Market Report unique: we only include ﬁnal prices – purchase prices or rental prices actually achieved – rather than offer prices. OUR SERVICE FOR READERS: →→ A complete overview of developments on the Viennese residential market →→ Important facts and ﬁgures →→ Property trends →→ Comparative ﬁgures for Vienna and its individual districts in the new updated edition THIS INCREASES the First Vienna Residential Market Report’s rele- vance while also ensuring its place as one of a kind compared to many other market reports and studies. ALL INFORMATION USED corresponds to the current state of aware- ness 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).
05 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 EHL Immobilien Group EHL IMMOBILIEN GROUP EHL WOHNEN GMBH is part of the EHL Immobilien Group and one of the leading estate agents in Greater Vienna. Apart from arranging rented, oc- cupier-owned and investment contracts as well as brokering land and houses, the company operates in property development consulting for developers with advice 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 of services extends from es- tate agent services and property valuation to property and construction administration; asset, centre and portfolio management; market research and investment consulting. Several awards stand witness to our responsi- ble approach in how we do business with customers and partners. SIX EHL EXECUTIVES have been awarded a total of ten CÄSAR awards for outstanding achievement in the property business. Apart from that, EHL has received the IMMY award as the best estate agent nine times over. Our customers beneﬁt from a complete range of real-estate services across the world as well as our own local experts thanks to our partnership with BNP Paribas Real Estate. IN 2019, EHL ARRANGED 1,300 residential unit deals (rental, prop- erty, investment) and 42,000 square metres of ofﬁce space, command- ing a total transaction volume of 1.16 billion euros. The annual volume from the fast-growing property valuation segment amounts to around 12.1 billion euros. Apart from that, EHL manages properties in a variety of asset classes at a total of around two million square metres. ×
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 06 HOUSING MARKET OWNERSHIP STRUCTURE IN 2019 AROUND 931,000 APARTMENTS IN VIENNA count as inhabited, with around 76 percent of households living in rented accommoda- tion – an extraordinary housing market compared to the other eight Austrian federal states. Of these 710,400 or so rented apartments, around 409,600 are owned by the City of Vienna or non-profit housing associations. 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 2019 VIENNA AUSTRIA TOTAL PRIMARY RESIDENCES 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 approx. 931,000* approx. 3,947,000* ABSOLUTE FIGURES ABSOLUTE FIGURES 68,000 124,700 710,400 307,200 214,100 195,500 27,900 1,673,200 430,100 1,657,700 710,500 315,800 631,500 186,000 * Source: Statistics Austria, own calculations. A household equals one apartment.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 08 HOUSING MARKET DEMOGRAPHICS OF AUSTRIA AS AT JANUARY 1, 2019, AUSTRIA WAS home to 8,858,775 people, of whom 5,472,520 were between 20 and 64 years old. At the start of 2019, the average age of the people living in Austria was 42.8 years. According to the latest forecasts, the population of Austria is expected to reach the × nine million mark only in 2023. DEMOGRAPHIC OUTLOOK FOR AUSTRIA AGE PROFILE OF POPULATION AS AT JANUARY 1, 2019 8,858,775 9,793,189 2019 TO 2070 Population 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 2000 2010 2019 2030 2040 2050 2060 Year 2070 FORECAST →→ Nine million people will be living in Austria by 2023. →→ By 2070, the population of Austria is expected to rise to 9,793,189 people. →→ This corresponds to an increase by nearly 11% from 2019 to 2070. →→ By 2070, around 28.9 % of the population will be 65 years or over, up from 18.9% in 2019. →→ The number of people living in Austria below the age of 20 will continue to drop gradually, from 19.4% in 2019 to 18.7% by 2070. 1,717,696 0–19 YEARS 1,668,559 > 65 YEARS 5,472,520 20–64 YEARS
09 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 HOUSEHOLDS IN AUSTRIA THE AVERAGE HOUSEHOLD SIZE of the 3,947,204 private households in Austria was 2.22 people in 2019. The trend towards small households × continues. 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 2019 TO 2080 Households 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 2,692,921 2,453,843 1,967,102 1,493,361 2019 2080 SINGLE-PERSON HOUSEHOLDS MULTIPLE-PERSON HOUSEHOLDS Year FORECAST →→ The number of single-person households is still growing. →→ Between 2019 and 2080, single-person households are set to increase by 31.7% out of the total number of households in the respective year (from 1,493,361 to 1,967,102). →→ Between 2019 and 2080, multiple-person households are set to increase by only 9.7% out of the total number of households in the respective year (from 2,453,843 to 2,692,921). →→ From 2019 to 2080, the total number of private households is expected to rise by 18.06% (from 3,947,204 to 4,660,023). →→ The predicted average household size for 2080 is around 2.09 persons.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 10 HOUSING MARKET DEMOGRAPHICS OF VIENNA AS AT JANUARY 1, 2019, the population of vienna was 1,897,491. Of these, 312,445 people were older than 65, and 366,693 were younger than 20 years of age. On January 1, 2019, the average age in Vienna was 40.4 years (41.7 for women and 39.0 for men). Current forecasts predict that the × population of the capital will only hit the two million mark in 2027. DEMOGRAPHIC OUTLOOK FOR VIENNA AGE PROFILE OF POPULATION AS AT JANUARY 1, 2019 2019 TO 2070 1,897,491 2,239,762 366,693 0–19 YEARS 312,445 > 65 YEARS 1,218,353 20–64 YEARS Population 2,000,000 1,750,000 1,500,000 1,250,000 1985 1995 2005 2030 2040 2050 2060 2019 Year 2070 FORECAST →→ Only by 2027, Vienna will have a population of more than two million. →→ By 2070, the population of the city is expected to reach 2,239,762. →→ This corresponds to an increase of 18% from 2019 to 2070. →→ By 2070, around 23.9% 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 decrease from 19.4% today to 19.2% by 2070.
11 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 HOUSEHOLDS IN VIENNA VIENNA HAD AROUND 930,979 households with an average household size of just 2.04 persons in 2019. 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 2019 TO 2080 Households 600,000 500,000 400,000 300,000 200,000 100,000 0 595,160 549,799 508,603 422,376 2019 2080 SINGLE-PERSON HOUSEHOLDS MULTIPLE-PERSON HOUSEHOLDS Year FORECAST →→ Between 2019 and 2080, single-person households in Vienna are set to increase by more than 30.17% out of the total number of households in the respective year (from 422,376 to 549,799). →→ Between 2019 and 2080, multiple-person households in Vienna are set to increase by more than 17% out of the total number of households in the respective year (from 508,603 to 595,160). →→ From 2019 to 2080, the number of private households will increase by more than 22.9% (from 930,979 to 1,144,959). →→ It is expected that there will be more than one million households in Vienna by 2035. →→ The predicted average household size for 2080 is 2.02 persons.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 12 FACTS USEFUL FACTS ABOUT VIENNA THIS PAGE PROVIDES YOU WITH INTERESTING DETAILS on the Austrian capital – all at × one glance. USABLE LIVING AREA* VIENNA: 38 m2 PER RESIDENT NUMBER OF BUILDINGS OVER TIME** Lowest living area: Favoriten: 31 m² per resident Highest living area: Innere Stadt: 65 m² per resident UP TO 39 m2 40 TO 49 m2 > 50 m2 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 , 3 5 5 0 8 1 , 1951 1961 1971 1981 1991 2001 2011 2019 POPULATION DENSITY** VIENNA: 45.7 PERSONS PER HECTARE PUBLIC TRANSPORT*** Lowest density: Hietzing 14.3 persons per hectare Highest density: Margareten 275.4 persons per hectare UP TO 100 101 TO 200 PASSEN- GERS LENGTH OF LINES LINES METRO SERVICES 463.1 Mio. 83.0 km 5 TRAMS 305.8 Mio. 220.5 km 28 201 AND MORE BUSES 197.3 Mio. 649.2 km 129 TOTAL 966.2 Mio. 952.7 km 162 GREEN SPACE IN PERCENT*** STREETS IN VIENNA*** VIENNA: 47.1% (OUT OF TOTAL AREA) Highest percentage of green space: Hietzing: 70.6% Lowest percentage of green space: Josefstadt: 1.9% UP TO 25% 26 TO 50% > 51% SHORTEST STREET: IRISGASSE LONGEST STREET: HÖHENSTRASSE TOTAL LENGTH OF STREETS NUMBER OF ROADWAYS 17.0 m 14.8 km 2,784 km 6,906 8 1 0 2 t a s A * * * 9 1 0 2 t a s A * * 1 1 0 2 t a s A *
13 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 VIENNA RISING! THE VIENNESE BUILDING CODE deﬁnes buildings taller than thirty-ﬁve metres as high-rise buildings. Vienna has already exceeded this size limitation by far, following international trends. The coming years will continue to see many high-rise buildings rise into the sky, making lasting × changes to the cityscape. RESIDENTIAL HIGH-RISES* IN VIENNA FIGURES 7 17 18 1 3 2 6. 1. 2. 3. 4. 5. Residential high-rise DC Tower 2 Danube Flats Neue Donau high-rise MARINA TOWER MGC Plaza "The Marks" (3 residential high-rises) TRIIIPLE 1 TRIIIPLE 2 TRIIIPLE 3 Mischek Tower Hoch 33 V22 Citygate Living Tower Delugan-Meissl-Tower High-rise at Viertel Zwei "Grünblick" Alterlaa residential park Leopoldtower Höchstädtplatz residential high-rise 16. Mischek-Coop-Tower 17. SEG Apartment Tower 18. Obelixturm 19. 7. 8. 9. 10. 11. 12. Residential high-rises in the Nordbahn quarter 13. 14. 15. 20. Monte Verde residential high-rise in planning in planning completed District Altitude in m Status 22 22 22 2 3 3 3 3 22 10 22 21 10 2 approx. 175 m approx. 160 m 150 m approx. 138 m under construction 100–121.5 m under construction (105–126 m) 116 m 107 m 120 m 110 m 110 m approx. 110 m 100 m 14. 99 m 90 m under construction under construction under construction completed completed in planning completed completed kick-off in 2020 16. 18. 17. 23 21 20 10 22 22 2 10 85.1 m 85 m 13. 83.5 m 83 m 82 m 80 m approx. 60–80 m completed completed completed completed completed completed in planning 13 77 m 23. completed 15. 12. 21. 10 14 9 19. 15 20. 9. 19 12 4 2. 3. 6 6 6 5 8. 7. 6. 5. 1. 4. 22. 16 11 20 8 11. 10. COMPLETED UNDER CONSTRUCTION IN PLANNING RESIDENTIAL HIGH-RISES* IN INTERNATIONAL COMPARISON** m 2 7 4 m 5 3 4 m 5 . 5 2 4 m 3 1 4 m 2 9 3 m 1 8 3 m 2 5 3 m 5 3 3 Central Park Tower NYC, USA 111 West 57th Street NYC, USA 432 Park Avenue NYC, USA Princess Tower Dubai, UAE 23 Marina Dubai, UAE Elite Residence Dubai, UAE Marina Torch Dubai, UAE DAMC Heights Dubai, UAE m 2 2 3 Q1 Gold Coast, Australia m 7 1 3 m 0 1 3 m 8 0 3 HHHR Tower Dubai, UAE Ocean Heights Dubai, UAE Burj Rafal Riad, Saudi Arabia h c r a e s e R t e k r a M L H E : e c r u o S * * e s u l a i t n e d i s e r % 5 8 n a h t e r o m h t i w s e s i r - h g H * i
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 14 TRENDING TOPIC RESIDENTIAL HIGH-RISES THEY ARE NOW PRESENT IN MANY PARTS of Vienna: high- rise buildings soaring above the roofs of the city. Floridsdorf, Donaustadt, parts of Favoriten – the Austrian capital’s skyline would be hard to imagine without the DC Tower, Millennium Tower, or Twin Tower. High-rise build- ings may have been used only as ofﬁce towers for a long time, but the city of Vienna and residential property developers have realised that this form of architecture provides a host of beneﬁts. VIENNA IS SET TO BREAK the two-million population threshold in 2027 as housing and areas for development become increasingly scarce. This meant that it was high time for developers to take a closer look at residential high-rises and start building upwards, causing population den- siﬁcation. “High-rise buildings may have been used only as ofﬁce towers for a long time, but the city of Vienna and residential property developers have realised that this form of architecture provides a host of beneﬁts.” PROJECTS SUCH AS THE "MARINA TOWER", "TRIIIPLE", and "The Marks" are currently under construction, showcasing Vienna’s future hu- man habitat. From subsidised rent to exclusive properties, Vienna caters to a wide demographic in residential high-rises under development. This generates new prospects for future residents with the panoramic views many of these high-rises have over the city creating an entirely new living atmosphere. THE UPPER FLOORS in these residential high-rises in particular set the apartments apart from the urban bustle while also creating a sensation of being in the midst of it. Residential high-rises also provide that feeling of anonymity contrasting with the sensation of being part of a greater whole. The many common areas in the buildings contribute to that. Apart from classical children’s playrooms, projects with several hundred resi- dential units that are so typical of residential high-rises also include shared kitchens, lobbies, and shared terraces. “The upper ﬂoors in these residential high-rises set the apartments apart from the urban bustle while also creating a sensation of being in the midst of it.” RESIDENTIAL HIGH-RISES also beneﬁt from convenient infra- structure: residents ﬁnd everything they could possibly need from local suppliers and other everyday services to pharmacies, day-care centres, and schools to local pubs and restaurants right next door. These areas generally have good transport links: all of Vienna’s (future) residential high-rises have a metro station nearby, such as the U3 from "The Marks" or U2 from "Marina Tower", and are never far from a motorway ensuring fast and easy access for motorists. THE CHARM OF A TOWNHOUSE FLAT in the heart of Vienna cannot compare with that of a residential tower, of course. Even so, the "upward" trend is unstoppable, and will soon be regarded as the state- × of-the-art way of living.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 16 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 78. 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 soc- ial development. Home is an expression of upper or middle-class lifestyle in clear distinction from current attitudes. TRADITIONALS. Emphasis on security, order, and stability – rooted in the old petty-bourgeois world, in the traditional blue-collar culture, or in the rural milieu. Home tastes are based on traditional cosiness and rural aesthetics. CENTRAL MILIEUS THE 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 anchorage, membership, security, performance orientation, but also the wish for fun and entertainment. The prevailing lifestyle is either trendy or quiet and down-to-earth.
17 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 UPPER CLASS ESTABLISHED. The performance-oriented elite with a strong anchorage in tradition – strongly focused on status, exclusiveness, responsibility, and leadership. The apartments are often a stylishly harmonious combination of traditional and modern. POSTMATERIALISTS. Open-minded social critics – intellectual, educated milieu, interested in variegated aspects of culture; cos- mopolitan 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. HIGH ACHIEVERS. The ﬂexible and globally oriented perfor mance 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 | 2020 18 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 14. 17. 16. 19. U Floridsdorf U Heiligenstadt 20. 18. U Spittelau U Elterleinplatz * U Ottakring 8. 7. 9. 1. U Stephansplatz 2. U Karlsplatz S2 U Seestadt 22. A1 U Hütteldorf 13. U Westbahnhof 6. 15. 4. 3. 5. 12. U Wienerberg * U Simmering 11. A4 23. A23 U Siebenhirten 10. U Oberlaa * in planning A21 S1 VIENNA AIRPORT
19 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 THE TABLE CONTAINS all key data and facts regarding population, income, property prices, and rental prices. The quoted prices are not asking or advertised prices but the prices per square metre that were actually paid upon signing of the contract. SALES PRICES are represented as purchase prices per square metre of net living area, excluding parking and incidental costs. The section below provides more detailed information on the individual districts, including key demographic data, statistics, and special features within the districts. × DISTRICTS RESIDENTS INCOME* SALE PRICES ON CONCLUSION RENTAL PRICES ON CONCLUSION FIRST OCCUPANCY** OTHER FIRST OCCUPANCY** 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 16,306 104,946 91,745 33,263 55,407 31,864 32,288 25,466 41,958 204,142 103,008 97,634 53,778 92,990 77,621 103,785 57,292 51,587 72,947 86,502 165,673 191,008 106,281 € 26,480 € 22,904 € 24,172 € 25,878 € 20,479 € 23,971 € 25,100 € 25,142 € 24,701 € 19,478 € 21,606 € 20,537 € 29,575 € 23,755 € 18,528 € 21,168 € 22,386 € 26,770 € 28,004 € 18,674 € 23,220 € 25,323 € 26,063 n/a*** € 5,400 € 5,600 € 5,700 € 5,200 € 5,500 € 6,000 € 6,500 € 6,100 € 4,500 € 4,000 € 4,500 € 6,100 € 4,700 € 4,400 € 4,500 € 4,250 € 5,900 € 6,500 € 4,300 € 4,250 € 4,400 € 4,100 n/a*** € 4,000 € 4,100 € 4,200 € 3,900 € 4,100 € 4,500 € 4,700 € 4,400 € 2,900 € 2,600 € 3,100 € 4,300 € 3,200 € 3,000 € 3,000 € 3,000 € 4,000 € 4,400 € 2,900 € 2,900 € 2,900 € 3,000 n/a*** € 12.50 € 12.70 € 13.20 € 12.00 € 13.10 € 13.10 € 13.20 € 13.10 € 11.20 € 10.50 € 11.50 € 13.00 € 11.70 € 11.50 € 11.40 € 11.30 € 12.60 € 13.00 € 11.50 € 11.10 € 11.40 € 10.60 OTHER n/a*** € 10.50 € 11.00 € 11.20 € 10.70 € 11.10 € 11.10 € 11.40 € 11.20 € 9.40 € 9.20 € 10.20 € 11.30 € 10.50 € 10.30 € 10.40 € 10.20 € 10.80 € 10.90 € 10.40 € 10.20 € 10.20 € 10.00 Source: Statistics Austria, wage tax statistics for 2018, average annual net income for employees in total, in euros, valid as at December 2019 * ** Weighted average price *** 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.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 20 1010 INNERE STADT VIENNA’S NUMBER ONE ADDRESS V IENNA’S FIRST DISTRICT is undergoing a residential de- velopment boom the likes of which it has not seen for years. Experience from recent years has shown that luxury is not a question of size with demand for one and two-bedroom apartments rap- idly growing. PRESTIGIOUS PROJECTS are currently under construction around the City Hall, on Börseplatz 1, on Parkring 14, and at Palais Schotten- ring. Franz-Josefs-Kai also has new development projects being planned. The district’s 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 city centre is a diverse part of Vienna, and is hugely popular amongst inhabitants and tourists. Its exclusivity attracts especially the High Achiev- ers and Established Sinus-Milieus®: High Achievers appreciate the cos- mopolitan environment and its proximity to trendy restaurants, while the Established ﬁnd contentment in their prestigious residential area close to cultural institutions such as the State Opera and Albertina Museum. WOHNEN (PREIS/m2) Life is there to be enjoyed over a slice of the legendary Sachertorte choco- late cake or melange coffee in the iconic Café Hawelka, where Viennese coffeehouse culture is still celebrated. Ringstraße is a downtown boule- vard that replaced what was once the city walls in the mid-eighteenth century, and is now a varied and rich high-street shopping experience. EIGENTUM It also provides an opportunity to stroll through the city and take in all ERSTBEZUG kinds of architectures and institutions telling their own fascinating story. SONSTIGE One such building can be found at Bauernmarkt 10, where famous author MIETE Franz Grillparzer was born. Just under ﬁfty percent of the area has been ERSTBEZUG developed, but the green areas in the city centre that account for around SONSTIGE ten percent of the total area of the district provide a uniquely elegant ﬂair. ZINSHAUS
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 22 1020 LEOPOLDSTADT CENTRAL DIVERSITY L EOPOLDSTADT IS ONE OF Vienna’s largest downtown development zones, and a highly sought-after district as re- flected in the construction projects: development on what was once the Nordbahnhof railway station is already halfway to completion. This gradual development should see around ten thousand residential units and twenty thousand jobs created in the area by 2025. ALONG THE BANKS OF THE DANUBE, DONAUUFER IS expe- riencing a revival with residential high-rises such as "MARINA TOWER" alongside the Second District’s other high-rise projects in develop - ment. Other hotspots in the district include the Vienna University of Economics and Business (WU) Campus, Stuwerviertel, and the × Prater. 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 The Consumption Oriented Sinus-Milieu® is especially heavily repre sented in Leopoldstadt. This milieu appreciates the district’s urban grätzel struc- ture of small Viennese neighbourhoods with their traditional pub and tavern life, while attaching great importance to affordable housing and budget shopping opportunities. The district’s location places it within easy reach of other districts and a variety of recreational and leisure activities in Leopoldstadt. Augarten is one of the oldest and most culturally signiﬁcant parks in the city at more than ﬁfty-two hectares – ideal for long strolls outdoors. Located between Donaukanal and the Danube, greats of the Second Dis- trict included Johann Strauß, who composed The Blue Danube waltz at Praterstraße 54 in 1867. The Vienna Prater, nearby football stadium, and Praterallee provide not only a district for leisure, but also a recreational area for active sports fans as well as spectators. Leopoldstadt is especially popular due to the green areas taking up almost forty-ﬁve percent of the total area of the district.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 24 1030 LANDSTRASSE INNOVATIVE DEVELOPMENT L ANDSTRASSE HAS THE HEAVIEST downtown develop- ment, and is the deﬁnitive area of residential high-rises. These in- clude the three residential high-rises in the "TRIIIPLE" project on Erdberger Lände and "The Marks" at St. Marx. OTHER MAJOR project developments such as "IU – idyllisch_urban", "An der Lände 36–38", and "Lände 3" on Erdberger Lände reﬂect the unceasing popularity of the district as do the areas around the Stadtpark municipal park, Rochusmarkt, Erdberger Lände, and Erdberger Mais. × 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 Third District has seen some change since Ludwig van Beethoven composed his Ninth Symphony, Ode to Joy, at Ungargasse 46. The Third District, or simply “the Third”, has experienced a variety of development activities such as the St. Marx urban development area. A state-of-the-art centre for research, media and housing was built here; an event hall with the latest in technical equipment is soon to grace the area. Apart from its proximity to downtown Vienna, this is another reason for the district to attract the High Achievers Sinus-Milieu®. Landstraße is a place of contra- dictions reﬂected in the district’s structure: vibrant shopping streets, an at- tractive local scene around Rochusmarkt, the upmarket embassy quarter, working-class grätzel neighbourhoods, and cultural institutions such as Kunst Haus Wien, Rabenhoftheater, and Akademietheater stand witness to the district’s diversity. As do its parklands that make up around ﬁfteen percent of the local green space.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 26 1040 WIEDEN BLISSFUL LIVING IN WIEDEN T HE FOURTH DISTRICT is rather small in area and residen- tial construction projects are relatively scarce. Even so, Wiedner Hauptstraße is undergoing some highly attractive transforma- tions. There are exciting project developments such as on Argentinier- straße as well as along the border to the First District. The area around Südtiroler Platz is popular, which is mainly due to its good transport links to the Vienna metro and regional railway services. Other hotspots in the × district include Naschmarkt and Freihausviertel. U Karlsplatz Nasch- markt Frei- haus- viertel Argenti- nier- straße Prinz-Eugen-Straße U Taubstummengasse Favoritenstraße Süd- tiroler Platz U Südtiroler Platz Hauptbahnhof HOTSPOTS SPECIAL FEATURES OF DISTRICT Wieden has its attractions for residents even if green space only takes up around ten percent of the district’s area. The Postmaterialists Sinus-Milieu® appreciates the district’s proximity to learning institutions such as the The- resian Academy and the Technical University, and the well-developed net- work of cycle paths. High Achievers are equally well-represented as they appreciate the diverse restaurants and cafés and the centrally located, prestigious residential environment close to the city centre. Karlsplatz has come to be regarded as a main metro junction with much to offer in terms of historical and cultural value: Antonio Vivaldi found his ﬁnal resting place at Karlsplatz 13 in 1741, which is also where Dr. Karl Lueger, a former Lord Mayor of Vienna, was born just under a century later. Apart from that, the Otto Wagner Pavillon and the Church of St. Charles, considered to be one of the landmarks of Vienna, are located right at Karlspatz. The Funkhaus Wien broadcasting centre – home to the Vienna Radio Symphony Orchestra – is located next door to Argentinierstraße.
Wohllebengasse 6 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 33,263 RESIDENTS 2019 17,219 MAIN RESIDENCES 2018 1.93 PERSONS/HOUSEHOLD 2018 MOVED IN MOVED OUT MIGRATION BALANCE + 2,254 1,864 – + 390 DEMOGRAPHIC FACTS 15.2 km OF CYCLE PATHS 178 DOCTORS* 2 DOG ZONES 38 PLAYGROUNDS 10.0% 539 GREEN SPACE WITH TREES** FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 30.2% WIEDEN 32.4% +2.2% AVERAGE INCOME*** € 25,878 WIEDEN € 22,943 VIENNA 4.9% 6.8% 11.5% 59.8% 17.0% 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 41.5 YEARS HOUSING COSTS (PRICE/m²) RENTED FIRST OCCUPANCY .............. € 13.00/m2 to € 13.50/m2 OWNER-OCCUPIED FIRST OCCUPANCY ..................................... € 5,700/m2 weighted average ........................................... € 13.20/m2 OTHER ........................................................... € 11.20/m2 OTHER .......................................................... € 4,200/m2 INVESTMENT PROPERTY .......... € 3,200 to € 4,400/m2 In this district, 277 changes of ownership were registered in the land registry in 2019, with a total sales value of approx. 118 million euros. i ) 8 1 0 2 ( e r t s a d a c e e r t e h t o t g n d r o c c a s e i t i r o h t u a l a p i c i n u m e h t y b d e g a n a m , s n e d r a g d n a s k r a p n i t o n , s i t a h t , s d a o r c i l b u p n o s e e r T * * 9 1 0 2 r e b m e c e D t a 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 , 8 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 f o l a t o T *
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 28 1050 MARGARETEN RUSTIC CHARM T HE ONGOING EXTENSION to the metro network has al- ready initiated an increase in prices around Matzleinsdorfer Platz. The area also beneﬁts from modern high-rise buildings between the Hauptbahnhof main railway station and the Fifth District as well as the major companies setting up shop there. Margareten has undergone substantial upgrading in the last few years, and is catching up with the Sixth District. Naschmarkt and Margaretenplatz are amongst the × hotspots of the district. Nasch - markt U Kettenbrückengasse U Pilgramgasse Margare- tenplatz U Margaretengürtel Reinprechtsdorfer Straße Wiedner Hauptstraße Matzleinsdorfer Platz HOTSPOTS SPECIAL FEATURES OF DISTRICT Margareten used to be known as a working-class district, but has since developed into a hip area with plenty of start-ups. Even so, the Fifth Dis- trict has lost none of its rustic charm: publicly accessible inner courtyards in some of the older buildings – often hidden away and only familiar to those who know the district – such as Schlossquadrat, provide not only a host of cafés and restaurants but also welcome shade from the sun in the hot summer months in the city. The Fifth District, or “the Fifth” to the locals, is home to the alternative arts scene, so it comes as no surprise that Falco wrote Der Kommissar, his major international chart hit, here at Ziegelofengasse 37. Even now, the district is especially attractive to the Escapists Sinus-Mileu®, who also appreciates the low cost of housing close to 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. The district has a number of small public parks despite the low proportion of green space at just 4.4 percent.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 30 1060 MARIAHILF TASTEFUL VARIETY A LREADY WELL-DEVELOPED, the Sixth District is gaining in attractiveness from the newly designed Mariahilfer Straße and planned metro extension linking Mariahilf to the U2 metro line. There are few construction projects here due to the well-developed nature of the area. Nonetheless, demand for housing is high, albeit with a deﬁnite slope towards the Westbahnhof railway station and the Beltway. Sought-after residential areas mainly include Gumpendorfer Straße and × the areas around Naschmarkt and Getreidemarkt. 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 You can argue about taste – except in Mariahilf. The variety is so great here that it makes up for the lack of green space at only two percent: Mariahilfer Straße, Austria’s longest high street, and Gumpendorfer Straße provide a wide variety of local and individual shops as well as interna- tional chain stores. The High Achievers Sinus-Milieu® especially appreciates this, while Postma- terialists enjoy the abundance of places to meet as well as the cycle paths and pedestrian precincts. Naschmarkt is as attractive to High Achievers as it is to any other visitor to the district: every day sees an unusually lively environment brimming with lifestyle and ﬂair with around a hundred and twenty market stalls on an area of 2.3 hectares. From gourmet deli- catessens to a variety of dining establishments, ﬁne eaters are guaranteed satisfaction until the late evening hours. An impressive range of muse- ums, collections, and theatres provide the district’s cultural highlights. The Raimund Theater, which is mainly used for musicals, is one such attraction. The theatre was named after the actor Ferdinand Raimund, who was born at Mariahilfer Straße 45 in 1790.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 32 1070 NEUBAU IT DOESN’T GET MUCH COOLER THAN THIS W ALKING THROUGH THE DISTRICT, the drop in attrac- tiveness becomes apparent the closer you get to the Beltway. Even so, Neubau still excels in its wide range of attractions, and is still a very popular residential district. Demand for housing is especially high around the Museumsquartier and Neubaugasse hotspots. "Über den Linden" is one of the construction projects in the Seventh District; what will be the tallest residential high-rise in the district is cur- × rently under construction. 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 Vienna’s creative centre lies in the Seventh District between Urban- Loritz-Platz, Neubaugasse and Museumsquartier. The last of the three has turned into a historically valuable cultural attraction where the royal sta- bles were once located. Three Sinus-Milieus® in particular have come to enjoy the cultural va- riety of Neubau with its fascinating melange of art studios, cafés and restaurants, and cheery pub life: Postmaterialists, High Achievers, and Digital Individualists. The painter Friedrich Ritter von Amerling was born at Stiftgasse 8 in 1887. The efforts of artists, architects, and people from the neighbourhood saved the Amerlinghaus from demolition. Today, the house is a self-managed cultural and communications centre, and home to a restaurant as well as the Neubau district museum. Neubau has only 3.3 percent green space. Nonetheless, many of the young designers living and working in the district still ﬁnd outdoor inspiration in the parks such as Weghuberpark and Josef-Strauß-Park.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 34 1080 JOSEFSTADT SCENIC HERITAGE D EMAND FOR HOUSING is high and availability is scarce in Vienna’s smallest district, which is mainly due to the shortage of free space and resulting low volume of construction activity. This has affected the prices of housing available even if it doesn’t make Josefstadt any less attractive. THE DISTRICT BENEFITS FROM NEW PLACES to meet on Lange Gasse, with a new residential project on Trautsongasse nearby, as well as greening for trafﬁc calming. Another residential project is cur- rently under construction on Blindengasse near the Josefstädter Straße × hotspot. Alser Straße U Josefstädter Straße Josefstädter Straße Laudon- gasse Josef- städter Straße U Rathaus Lerchenfelder Straße HOTSPOTS SPECIAL FEATURES OF DISTRICT The theatre house in Josefstadt was founded in 1788, and is Vienna’s old- est theatre. Great actors and poets 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. The wide variety of cultural leisure attractions together with the ethnically diverse range of cafés and restaurants at this trafﬁc-calmed location makes the Eighth District especially attractive for the Postmaterialists Sinus-Mi- lieu®. 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. Also 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 historical 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 | 2020 36 1090 ALSERGRUND VIENNESE EPICURISM T HE LARGEST PROJECT DEVELOPMENT in the Ninth District is taking place between the former University of Eco- nomics and Franz-Josefs-Bahnhof railway station, known as Althangrund. There is plenty of construction beyond that with new housing under development on Grünentorgasse, Pﬂuggasse, Liechtensteinstraße, and Nußdorfer Straße. Berggasse also has an exclusive luxury housing project currently under construction. Popular hotspots in the district include Servitenviertel as well as the area around the previous Vien- na General Hospital site known as the Altes AKH, and around Donau- × kanal. 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 Altes AKH Alser Straße SPECIAL FEATURES OF DISTRICT The Ninth District gives you the perfect opportunity to bask in the arts and culture with museums such as Palais Liechtenstein and Sigmund-Freud-Museum, Volksoper opera house, as well as the WUK and the Schauspielhaus theatre providing a varied programme. The dis- trict especially beneﬁts from the newly built quarters north of Alserbach - straße as well as the student halls, especially amongst the High Achievers Sinus-Milieu®. On the other hand, Postmaterialists appreciate the many universities close by such as the MedUni at Altes AKH, the Department of Communication and the main university campus at Altes AKH, the former Vienna General Hospital. This district has always been home to the intel- ligentsia, one prime example being Erwin Schrödinger – the Nobel prize- winning physicist famous for the eponymous feline thought experiment lived at Pasteurgasse 4 for years. There is also no shortage of recreational areas in Alsergrund with a variety of educational facilities and the associ- ated local scene with plenty of attractions for students. Just over seven percent green space such as the parks along Donaukanal provide comfortable places to relax and indulge in a little sport.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 38 1100 FAVORITEN GROUNDS FOR JOY F AVORITEN IS INCREASINGLY changing from a working-class district to a chic residential and ofﬁce quarter. The main drivers in this development include the many construction projects; the Tenth District has the highest levels of development activity in Vienna, turn- ing it into the most attractive district for construction and development. NEW PROJECTS INCLUDE Sonnwendviertel as well as Belvedere and Biotope City at Wienerberg. The latter is already benefiting from the planned route of the new U5 metro line. New residential high-rises such as "My Sky" and "Hoch 33" are examples of new residential devel - × opment. 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 HOTSPOTS SPECIAL FEATURES OF DISTRICT Favoriten is Vienna’s most populous district; however, it still provides sufﬁ- cient leisure and recreational activities for every resident with green space taking up forty-six percent of the total area. This includes the many parks, the Wienerberg local recreation area, Laaer Berg with the Böhmischer Prater that was almost completely destroyed in World War II, the Oberlaa spa gardens, and Reumannplatz to be completely revitalised with addition- al green areas by the summer of 2020. A variety of cultures and languages combined in more than two hundred thousand inhabitants along with the interplay between traditional and modern make the district unique. This becomes especially apparent at Viktor-Adler-Markt founded in 1877. The Traditionals 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.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 40 1110 SIMMERING AWESOME MIX S IMMERING has a high concentration of social housing, mak- ing it Vienna’s most affordable district. New social housing units have recently been completed in the south of the district towards Oberlaa, as have subsidised rental, owner-occupied and invest- ment apartments. MANY DEVELOPERS appreciate the solid infrastructure as well as the abundance of free spaces, and are planning new major develop- ment projects for 2020. Currently, there are construction activities along Simmeringer Hauptstraße as well as on the former Siemens site be- × tween Leberstraße and Brehmstraße. U Gasometer St. Marx U Zippererstraße U Enkplatz Geiselbergstraße U Simmering Grillgasse Linie U3 A4 Simmeringer Hauptstraße Kaiser- ebers - dorf Kaiserebersdorf HOTSPOTS SPECIAL FEATURES OF DISTRICT The combination of urban environment and excellent infrastructure to- gether with largely rural areas makes Simmering unique. Just under forty- one percent of the green space in the district is used for both agriculture and public recreation, providing added variety. appreciate the district’s neighbourhoods and family-oriented housing estates that go back years, while the affordable shopping opportunities such as the EKZ Simmering shopping centre and Simmeringer Hauptstra- ße are attractive to the Consumption Oriented. One of Simmering's popular excursion destinations is the area around Schloss Neugebäude palace, which is home to a medieval festival, an out- door cinema, an Oktoberfest, and a Christmas market – a wide variety of attractions throughout the year. Three Sinus-Milieus® are especially heavily represented in the Eleventh District: Traditionals and Adaptive-Pragmatists The Simmering market has a history that dates back to 1909. The mar- ket was mostly destroyed at the end of World War II, to be rebuilt again afterwards. Vienna’s central cemetery is especially steeped in history with its prominent Art Nouveau buildings and the many cenotaphs to great Austrian personalities that are worth a visit.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 42 1120 MEIDLING OH MY, LOOK AT THAT! G OOD TRANSPORT LINKS to the U4 and U6 metro lines raise demand for housing, especially on Schönbrunner Straße and Wilhelmstraße. Developers are addressing this by plan- ning a multifunctional community project on the former Komet site to the beneﬁt of the district. New housing developments have already been completed on Rechte Wienzeile and Arndtstraße. The Wildgarten development area is seeing a variety of housing projects gradually taking shape near Hetzendorf, a hotspot 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 The ﬁnest part of the Twelfth District can be found in the area ranging from the urban bustle around Meidlinger Hauptstraße and Meidlinger Markt to the village-like structures such as Altmannsdorf and Hetzendorf. It hardly comes as a surprise that the Consumption Oriented and Tradition- als Sinus-Milieus® are most heavily attracted to this location. 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. Compared to other districts, 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, provid- ing a variety of recreational and leisure activities in the palace gardens. Schloss Hetzendorf is a baroque palace steeped in 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.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 44 1130 HIETZING LIVING LIKE AN EMPEROR T HE THIRTEENTH DISTRICT is highly popular amongst families due to its large share of green space and proximity to Tierpark Schönbrunn zoological gardens. New housing devel- opments are to be found in the Lainz and Speising areas as well as the Ober St. Veit hotspot amongst other locations. THE SCHWEIZERTALSTRASSE currently has two new housing developments under construction. Old mansions and villas in upmar- ket locations are ﬁnding increasing use for apartment buildings, such as Jagdschlossgasse. Even so, construction activity is somewhat scarce × compared to the total area of Hietzing. 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 Hietzing is seen as Vienna’s “greenest” district at more than seventy percent green space. This is mainly due to the Wienerwald hills that extend into large parts of the district. Hietzing is home to the Lainzer Tiergarten park famous for its rich wildlife living freely on the grounds. The Hermesvilla palace is also located here. Empress Elisabeth lovingly named it the Palace of Dreams, and the building still offers a glimpse into the private life of Austria’s royal family. Maria Theresa chose Schloss Schönbrunn palace as her summer residence around 1740, and the pal- ace was steadily promoted to the centre of royal life. Elegant Hietzing still has visible and palpable traces of royal life that can even be seen in the populace: the Postmaterialists Sinus-Milieu® is especially attracted to the extensive green areas mentioned above as well as the architec- tural variety of the district, while the Established appreciate the elitist residential area with its traditional mansions and high-class restaurants.
Schweizertalstraße 39 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 53,778 RESIDENTS 2019 26,973 MAIN RESIDENCES 2018 1.99 PERSONS/HOUSEHOLD 2018 MOVED IN MOVED OUT MIGRATION BALANCE + – – 1,647 1,797 150 DEMOGRAPHIC FACTS 62.6 km OF CYCLE PATHS 368 DOCTORS* 3 DOG ZONES 53 PLAYGROUNDS 70.6% 6,432 GREEN SPACE WITH TREES** FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 30.2% -10.3% HIETZING 19.9% AVERAGE INCOME*** € 29,575 HIETZING € 22,943 VIENNA 5.7% 8.0% 9.8% 52.6% 23.9% 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 44.6 YEARS HOUSING COSTS (PRICE/m²) RENTED FIRST OCCUPANCY .............. € 12.70/m2 to € 13.30/m2 OWNER-OCCUPIED FIRST OCCUPANCY ...................................... € 6,100/m2 weighted average ........................................... € 13.00/m2 OTHER ........................................................... € 11.30/m2 OTHER ........................................................... €4,300/m2 INVESTMENT PROPERTY .......... € 2,200 to € 4,800/m2 In this district, 433 changes of ownership were registered in the land registry in 2019, with a total sales value of approx. 160 million euros. i ) 8 1 0 2 ( e r t s a d a c e e r t e h t o t g n d r o c c a s e i t i r o h t u a l a p i c i n u m e h t y b d e g a n a m , s n e d r a g d n a s k r a p n i t o n , s i t a h t , s d a o r c i l b u p n o s e e r T * * 9 1 0 2 r e b m e c e D t a 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 , 8 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 f o l a t o T *
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 46 1140 PENZING THE GREEN GRANDSTAND T HE FOURTEENTH DISTRICT still has plenty of potential for development although many families already beneﬁt from good transport links (U4 metro line and the regional railway network) as well as spacious green areas. Families especially appreciate the Wolfers- berg and Breitensee hotspot areas. There are also attractive developments in the urban areas of Penzing such as at the Körnerkaserne barracks site as well as a new housing development for 76 new units at Penzinger Straße 76. The district has several investment apartment developments including Linzer Straße, Leyserstraße, Breitenseer Straße, and Schützplatz. Housing × demand is also increasing along Hütteldorfer Straße. Mauerbachstraße Amundsenstraße Weidlingau Hadersdorf Wolfers- berg HOTSPOTS Wolf in der Au Linzer Straße U Hütteldorf Breiten- see U Ober St. Veit Hadikgasse Hütteldorfer Straße Breitensee U Johnstraße Penzing U Hietzing SPECIAL FEATURES OF DISTRICT Green space takes up approx. sixty-one percent of the total area of Penzing, creat ing varied leisure and recreational activities: sports fans beneﬁt from the Allianz Stadium and Hohe Wand Wiese, one of Vienna’s two ski slopes, and a summer toboggan run and mountain bike trail centre. Museums such as the Technical Museum built in 1918, with exhibits and models from the history of technology, and the Otto-Wagner-Villa mansion round off the list of attractions. The last in the list was built in 1888 by architect Otto Wagner and purchased by Ernst Fuchs in 1972. The artist rescued the building from dereliction, converted it into a museum, and opened it to the public. There’s one more highlight for cultural history aﬁcionados: Gustav Klimt, the world-famous painter and cofounder of the Vienna Secession, was born at Linzer Straße 247 in 1861. The Established and Conservatives Sinus-Milieus® are especially heavily represented in Penzing. 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.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 48 1150 RUDOLFSHEIM- FÜNFHAUS BOUNDLESS VARIETY T OWNHOUSE RESTORATION with loft extensions and plen- ty of construction activity dominate the Fifteenth District, which has mastered the transition from problem district to sought-af- ter location. Especially younger people beneﬁt from the central location, good transport links and infrastructure together with affordable housing. Rudolfsheim-Fünfhaus in particular is a good alternative to the other districts outside the Vienna Beltway, some of which are more expensive. NIBELUNGENVIERTEL and Sechshaus have developed into popular neighbourhoods contributing to Vienna’s increasing living quality. × Nibe- lungen- viertel Hütteldorfer Straße U Johnstraße U Schweglerstraße Felberstraße West- bahn- hof U Westbahnhof Mariahilfer Straße HOTSPOTS Linzer Straße Rustengasse Reindorf-/ Rusten- viertel U Gumpendorfer Straße Reindorfgasse Sechs- haus U Schönbrunn U Längenfeldgasse Rechte Wienzeile U Meidlinger Hauptstraße SPECIAL FEATURES OF DISTRICT Three Sinus-Milieus® are especially heavily represented in Rudolfsheim-Fünf- haus: Escapists and Adaptive-Pragmatists appreciate the plentiful sports, entertainment, 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 affordable housing. The Fifteenth District is a good alternative to the other districts within the Vienna Beltway that have become more expensive. The area north of the Westbahnhof railway station is especially lively with Vienna’s civic centre and its diverse events calendar. Lugner City and Reindorfgasse provide highly contrasting shopping experi- ences. Schwendermarkt market has served local supplies since 1833, and is currently undergoing revitalisation. As an example, two working groups have been greening public spaces as the Fifteenth District only has just over eight percent green areas; this includes parks such as Auer-Welsbach-Park and Schmelz.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 50 1160 OTTAKRING WESTERN FLAIR B ETWEEN THE BELTWAY and the Wienerwald hills, the Sixteenth District has highly varied structures and attracts a thoroughly mixed population. One of the few new housing projects is currently under development on Rosseggergasse at the base of the slope up Wilhelminenberg, which is one of the district’s hotspots alongside Gallitzinberg. The hype of Yppenplatz is slowly waning, but some of it has moved over to the neighbouring streets securing its place × as a hotspot in Ottakring. 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 One of Vienna’s many urban hiking trails leads across from Ottakring metro station through the district up to Wilhelminenberg Castle, which lies in the midst of twelve thousand square metres of parkland offering a magniﬁcent view over the capital. The area is surrounded by plenty of leisure opportunities for the inhabitants of the mansions in this area. Surprisingly, the Sixteenth District is dominated by the Escapists Sinus- Milieu®; this milieu is particularly drawn to the multiculturalism and varied supply of shops, cafés and restaurants in the western part of Vi- enna, especially on Thaliastraße and Ottakringer Straße. The “Sixteenth” is also attractive due to the cheerful mixture of people in the trendy pubs near the Beltway and the hip Viennese neighbourhoods such as Brunnenmarkt. In terms of culture, Ottakring has the Tschauner Bühne theatre founded all the way back in 1909, which is one of the last remain- ing impromptu theatres in Europe. Around thirty percent of the whole area of the district consists of green space.
Huttengasse 27 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 103,785 RESIDENTS 2019 51,754 MAIN RESIDENCES 2018 2.01 PERSONS/HOUSEHOLD 2018 MOVED IN MOVED OUT MIGRATION BALANCE + 5,026 – 4,734 + 292 DEMOGRAPHIC FACTS 42.5km OF CYCLE PATHS 202 DOCTORS* 2 DOG ZONES 83 PLAYGROUNDS 30.1% 3,326 GREEN SPACE WITH TREES** FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 30.2% OTTAKRING 36.5% +6.3% AVERAGE INCOME*** € 21,168 OTTAKRING € 22,943 VIENNA 6.2% 7.9% 11.8% 58.8% 15.4% 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 40.0 YEARS HOUSING COSTS (PRICE/m²) RENTED FIRST OCCUPANCY .............. € 11.00/m2 to € 12.00/m2 OWNER-OCCUPIED FIRST OCCUPANCY ..................................... € 4,500/m2 weighted average ........................................... € 11.40/m2 OTHER ........................................................... € 10.40/m2 OTHER .......................................................... € 3,000/m2 INVESTMENT PROPERTY ........... € 2,100 to € 3,450/m2 In this district, 998 changes of ownership were registered in the land registry in 2019, with a total sales value of approx. 211 million euros. i ) 8 1 0 2 ( e r t s a d a c e e r t e h t o t g n d r o c c a s e i t i r o h t u a l a p i c i n u m e h t y b d e g a n a m , s n e d r a g d n a s k r a p n i t o n , s i t a h t , s d a o r c i l b u p n o s e e r T * * 9 1 0 2 r e b m e c e D t a 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 , 8 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 f o l a t o T *
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 52 1170 HERNALS PROUD TO BE FROM HERNALS T HE SEVENTEENTH DISTRICT is currently experiencing a major upswing due to the construction of the U5 metro line to travel from Karlsplatz to Elterleinplatz from 2025 onwards. This improvement will see an upsurge in prices as well as increased con- struction activity on the few remaining sites available for development. LIKE OTTAKRING, HERNALS IS A VERY MIXED DISTRICT with a gradient between the urban Beltway area and the calm country at mosphere around the Wienerwald hills. Long-established locations such as Neuwaldegg and Heuberg are recognised hotspots of the dis- × trict. Neu- waldegg Heuberg Alszeile HOTSPOTS Hernalser Hauptstraße Hernals Wattgasse Elterlein- platz U Alser Straße SPECIAL FEATURES OF DISTRICT A unique cultural scene dominates Hernals – the “Seventeenth” doesn’t have the museums and theatres of the other districts, but it still has a cheerful mixture of attractions such as urban cabarets, artists' studios, gal- leries, and suburban wine taverns. which especially appreciates the mix of cultures and lifestyles. Attractively priced housing and proximity to the alternative pub scene in the neigh- bourhood and nearby Beltway appeal to this group. 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. Hernals is mainly home to the Escapists Sinus-Milieu®, Even so, Hernals can be described as a typical suburb with its peaceful residential atmosphere found mainly in the northwest close to the Wiener- wald hills, which take up a considerable proportion of the green areas that account for more than half of the district.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 54 1180 WÄHRING DELICATE SUBURBIA D EMAND FOR HOUSING in the Eighteenth District is as high as ever. Währing is still one of the most sought-after, if also one of the most expensive residential districts in Vienna. Popular hot- spots include Kutschkermarkt, Währinger Cottage, and Schafberg. THERE IS NOT MUCH CONSTRUCTION ACTIVITY in Währing apart from occasional new housing projects such as on Gersthofer Straße. More emphasis has been placed on restoring the old town- × houses, adding modern, high-quality loft extensions. 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 One of Vienna’s last remaining street markets is in Währing – Kutschker- markt has a history going back to 1885 and is seen as the beating heart of the district. The preponderance of Wilhelminian-style architecture near the Beltway contrasts with the Cottageviertel, or cottage quarter, based on English architecture from around 1873 towards the inside of the district. This positions Währing as a typical suburban district with an upmar- ket area populated by many of the upper middle class. Also the poet Arthur Schnitzler lived at Sternwartestraße 71 for nearly twenty years be- fore his death in 1931, and penned many of his famous plays, novels, and short stories during that time. The Postmaterialists Sinus-Milieu® is especially heavily represented in the Eighteenth District. Postmaterialists appreciate the family-oriented atmosphere and easy access to the districts closer to downtown as much as the large green spaces that take up twen- ty-seven percent of the total area of the district. Examples for these green spaces include Türkenschanzpark and Pötzleinsdorfer Schlosspark.
Gersthofer Straße 119 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 51,587 RESIDENTS 2019 26,603 MAIN RESIDENCES 2018 1.94 PERSONS/HOUSEHOLD 2018 MOVED IN MOVED OUT MIGRATION BALANCE + 2,607 – 2,408 + 199 DEMOGRAPHIC FACTS 28.7 km OF CYCLE PATHS 356 DOCTORS* 4 DOG ZONES 57 PLAYGROUNDS 27.0% 3,354 GREEN SPACE WITH TREES** FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 30.2% -2.2% WÄHRING 28.0% AVERAGE INCOME*** € 26,770 WÄHRING € 22,943 VIENNA 5.8% 7.9% 11.1% 57.6% 17.6% 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 41.1 YEARS HOUSING COSTS (PRICE/m²) RENTED FIRST OCCUPANCY .............. € 12.00/m2 to € 13.00/m2 OWNER-OCCUPIED FIRST OCCUPANCY ..................................... € 5,900/m2 weighted average .......................................... € 12.60/m2 OTHER ........................................................... € 10.80/m2 OTHER .......................................................... € 4,000/m2 INVESTMENT PROPERTY .......... € 2,500 to € 4,050/m2 In this district, 488 changes of ownership were registered in the land registry in 2019, with a total sales value of approx. 204 million euros. i ) 8 1 0 2 ( e r t s a d a c e e r t e h t o t g n d r o c c a s e i t i r o h t u a l a p i c i n u m e h t y b d e g a n a m , s n e d r a g d n a s k r a p n i t o n , s i t a h t , s d a o r c i l b u p n o s e e r T * * 9 1 0 2 r e b m e c e D t a 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 , 8 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 f o l a t o T *
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 56 1190 DÖBLING WINE WITH PRESTIGE D EMAND FOR SPACIOUS, WELL-APPOINTED housing is especially high in the Nineteenth District, speciﬁcally in the uptown neighbourhoods such as Sievering and Oberdöb- ling. These exclusive parkland areas come with correspondingly high housing prices, so the area is dominated by relatively high earners and families. By comparison, locations closer to the Beltway such as Heiligenstädter Lände have been seeing some fascinating develop- × ment. 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 Döbling is an excellent address for anyone looking for a prestigious neigh- bourhood. Mainly the Established and Postmaterialists Sinus-Milieus® can be found here. The Established are attracted to the mansion neigh- bourhoods, high-quality shopping, and exclusive traditional restaurants, whereas Postmaterialists appreciate the quiet trafﬁc and spacious green areas that account for almost ﬁfty percent of the total area of the district. Hohe Warte, Kahlenberg and Leopoldsberg hills are popular places to go for an excursion, and the Schmetterlingspfad (butterﬂy path) at Cobenzl is also worth a visit. Döbling has a surprisingly diverse population structure due to the plenti- ful public and association housing estates. The extensive vineyards greatly enrich the district. Döbling is famous for its wine taverns, and is developing into a very attractive place for wine lovers to go with the Neustifter Kirtag festival in August. The winemaking museum is another attraction. Vienna’s oldest restaurant, Der Pfarrwirt, is located at Pfarrplatz; the restaurant’s history goes back to the twelfth century.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 58 1200 BRIGITTENAU AH, HOW NICE T HE TWENTIETH district is especially attractive to the younger generation due to the affordable prices in Brigittenau compared to the surrounding districts of Leopold stadt and Alsergrund. A new quarter of forty-four hectares in area is currently under development on the Nordbahnhof railway station site between the Second and Twen- tieth District. This development mainly beneﬁts Brigittenau. Large-scale developments such as "Am Kai" with three hundred new apartments at Millennium City address the continuously high demand for housing. × Handels- kai U Handelskai Adalbert-Stifter-Straße Millen- nium City U Spittelau U Jägerstraße Traisengasse U Dresdner Straße Brigittaplatz HOTSPOTS U Friedensbrücke Augarten Nord- westbahn- hof SPECIAL FEATURES OF DISTRICT In Brigittenau, 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 eleven percent of the district area attract Adap- tive-Pragmatists. Traditionals live here in equally strong numbers as they feel particularly comfortable in a stable neighbourhood. Together with Leopoldstadt, the Twentieth District forms an island between Donaukanal and the Danube for a wealth of leisure activities together with the Danube meadows close by. The state-of-the-art 171-metre Millennium Tower is more than just an of- ﬁce block – it’s also a popular place to meet and spend time with friends at the cinema, shopping mall, or at one of the hip pubs or extensive range of cafés and restaurants. The Twentieth District has an interesting historically developed infra- structure as reﬂected by the multiculturalism of Brigittenau. The nearby long-established crafts, traditional inns, and international shops and res- taurants are particularly popular amongst the population of the district.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 60 1210 FLORIDSDORF SO CLOSE: FROM WIEN TO WINE T HE TWENTY-FIRST DISTRICT still has plenty of space for development, making it highly attractive to project develop- ers. The sites available provide new prospects for developing efﬁciently planned and affordable housing. Many construction projects along Brünner Straße, near the Hirschstetten local bathing resort, on the former Siemens site, and on Breitenleer Straße add to the beneﬁts of the district. The area surrounding the new Krankenhaus Nord, or northern × hospital, has seen heavy demand for housing. 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 Floridsdorf is known for its village-like structure such as the area around Stammersdorf with its Stürmische Tage wine festival every autumn. These more rural areas and the expansion of medical care make the district worth living in, especially for the Sinus-Milieu® of the Traditionals, while the Adaptive-Pragmatics, strongly represented here, are interested in the proximity to the Danube Island with its various leisure facilities as well as in family-friendly housing estates. The middle classes also show a strong presence here as they appreciate the harmonious neighbour- hoods on the outskirts. The social blend in the district arises from a general atmosphere with its marked inﬂuence from winegrowers’ houses and cellar alleys together with the plentiful public housing such as the Großfeldsiedlung estate. The Twenty-First District consists of around forty-two percent green space – enough for everyone living there to enjoy life on the Danube.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 62 1220 DONAUSTADT TOWN ON THE LAKE T HE LARGE AREAS available for new construction projects in Donaustadt are being put to good use for the purpose, making the Twenty-Second District one of the fastest-growing districts in Vienna. There are large areas for development along Wagramer Straße and Donaufelder Straße. NEW INVESTMENT PROJECTS are under construction on Konstan- ziagasse with additional freehold apartments in Seestadt Aspern, and the "Danube Flats" development along the famous river will be a new feature of the Viennese skyline. The Old Danube is not only a place of × recreation, it’s also a desirable residential area. 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 Living near the water is almost commonplace in the Twenty-Second District – whether along the Danube or in Seestadt Aspern. The latter has gained in attractiveness for the Adaptive-Pragmatists Sinus-Milieu® with its diverse recreational facilities and nearby metro service, while the Established Sinus-Milieu® prefers the rather more peaceful residen- tial areas in the rural areas. 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. More than sixty percent of Donaustadt’s total area consists of green space, which is not only attractive to its inhabitants but also the many visitors to the Old Danube and Lobau. All beneﬁt from sound transport links, including the local recreation areas mentioned above, with the extensions to the U1 and U2 metro lines. The Vienna Orpheum provides a cultural calendar of variety shows, concerts, and readings around 280 days per year. Donau Zentrum, Vienna’s largest shopping mall, and the adjoining Donau Plex are always busy with local shops and services and a wide range of shopping opportunities besides, a cinema as well as cafés, restaurants, and pubs.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 64 1230 LIESING MIXED SETS I T’S THE COMBINATION: LIESING IS DOMINATED by its uptown neighbourhoods together with large areas available for affordable housing. The new "In der Wiesn" non-proﬁt housing project is one such example. BROWNFIELD SITES have been rezoned into residential areas with the correspondingly high level of construction along Breitenfurter Straße, the river Liesingbach and Rosenhügel hill with more affordable × housing beneﬁting from the nearby 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 “eight villages of the Twenty-Third District” going back to the post-war period could not be more diverse: some areas feature village-like struc- tures with vineyards and wine taverns, some have developed into residen- tial areas with good connections to the public infrastructure, and some have remained as the industrial areas they used to be. Liesing shows great potential for growth, so prices for residential properties are likely to rise in places. This and the good connection to high-quality destinations for an ex- cursion make Liesing especially attractive to the Established Sinus-Milieu®. Conservatives are also well-represented here, as they appreciate the highly traditional area and proximity to the imperial atmosphere of Hietzing, and also Schloss Rodaun and Schloss Erlaa palaces. Green space takes up just over thirty percent of the total area of the district, increasing its living quality. The Wienerwald hills alone take up around fourteen percent of the district’s total area, and the Liesingbach valley pro- vides plenty of opportunity for high-quality leisure and recreation.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 72 EHL IMMOBILIEN PROJECTS WITH FITTED FURNISHINGS →→ 244 MODERN RENTAL APARTMENTS →→ 38 m² TO 109 m² →→ FLEXIBLE FLOOR PLANS →→ HIGH-QUALITY FITTINGS →→ OUTDOOR AREAS SUCH AS BALCONIES, →→ DONAUKANAL AND PRATER NEARBY →→ EXCELLENT TRANSPORT LINKS →→→ COMPLETION: EARLY 2020 →→ WWW.AN-DER-LAENDE.AT TERRACES, AND GARDENS . ) A ( 8 7 0 – 5 7 0 E E g f , . . a ² m / h W k 5 2 1 2 – 0 1 9 1 B W H . WATER. NATURE. VIENNA. AN DER LÄNDE / 1030 VIENNA, ERDBERGER LÄNDE 36–38 LIVE AS YOU LIKE IT: Your new home perfectly combines city life, calm, and relaxation in the new An der Lände residential quarter in the Third District. The new residential project consists of two buildings totalling 244 rental apartments located right on Donaukanal. are ready to move into. Property No 38 comprises generously proportioned one to three-bedroom apartments with ﬂoor areas ranging from 46 to 109 square metres as well as plenty of outdoor spaces such as terraces, balconies, and private gardens. RESIDENTIAL BUILDING NO 36 consists of bright and modern apartments with floor areas from 38 to 56 square metres, some with large outdoor areas. The apartments are flexible, and can be used as lofts or as one to two-bedroom apartments by using a practical partition wall; they benefit from the existing high-quality fitted cupboards and ALL THESE EXQUISITELY FURNISHED apartments are ideal for couples and families. The perfect location right on the water (Do nau kanal) with a natural view onto the Prater and with the town centre still within easy reach provides a unique level of × comfort. e g n a h c o j t t c e b u s , 9 1 0 2 r e b m e c e D : t a s a t c e r r o C
75 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 EHL IMMOBILIEN PROJECTS →→→ 31 OWNER-OCCUPIED APARTMENTS →→→ GENEROUSLY DIMENSIONED OUTDOOR AREAS →→→ GARAGE PARKING →→→ CALM GREEN LOCATION →→→ SCHEDULED COMPLETION: Q2 2021 EXCLUSIVE. CALM. GREEN. DIE GARTENRESIDENZ / 1130 VIENNA, SCHWEIZERTALSTRASSE 39 AN EXCLUSIVE NEW RURAL construction project, Die Garten- residenz, is currently under development on the edge of the extensive Lainz Woods in the ﬁnest part of Hietzing. This modern housing project comprises thirty-one owner-occupied apartments with ﬂoor areas ranging from 64 to 137 square metres and large outdoor spaces such as balconies, terraces, or gardens. beneﬁt from hard-wearing wooden ﬂoors, exquisite stone ﬁnishes, and smart home installations. TWENTY ADDITIONAL parking spaces are available to residents. Automatic access and good lighting ensure the necessary protection. EACH APARTMENT has intelligent ﬂoor plans with priority placed on high-quality materials for each apartment’s ﬁttings. The apartments THE LOCATION BETWEEN Lainz Woods and the Roter Berg hill provides a variety of recreational opportunities. There is a school and × a full range of grocery and convenience stores nearby. . 8 2 8 0 E E g f , a ² m / h W k 8 9 2 B W H . e g n a h c o j t t c e b u s , 9 1 0 2 r e b m e c e D : t a s a t c e r r o C
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 76 CLOSING WORDS VIENNA ON THE UP AND UP THE MERCER STUDY HAS ALREADY RATED VIENNA as the world’s most liveable city ten times over. The Austrian capital’s inhabit- ants enjoy high social standards and a well-developed infrastructure in constant optimisation as well as above-average quality of living. well as for non-proﬁt and private developers. The dwindling availability of open spaces has united everyone in one solution – to build upwards. But rising building costs pose a challenge to affordable housing in the future. VIENNA IS INCREASINGLY DEVELOPING into a city of contrasts: the distinctively original Viennese ﬂair with its coffee house culture, street markets, Wilhelminian architecture and imperial gardens contrast with trendy neighbourhoods, start-ups, several large-scale urban devel- opment and extension schemes, and innovative architecture. And this is exactly what Vienna is all about: successfully combining traditional treasures with openness to the future. “This is what Vienna is all about: successfully combining traditional treasures with openness to the future.” HOW HOUSING PRICES will develop in the coming years remains to be seen. “The availability of quality housing to address the city’s population growth year after year is an important matter in politics as well as for non-proﬁt and private developers.” THIS IS NOT EVEN CLOSE to the end of Vienna’s potential for developers. There is one development that stands out – increased con- struction of residential high-rises. THE AVAILABILITY OF QUALITY HOUSING to address the city’s population growth year after year is an important matter in politics as VIENNA’S POPULATION reﬂects the city’s diversity, emphasising the importance of providing individual housing for different needs. BUWOG and EHL Immobilien have therefore dedicated themselves to taking an active part in market development and contributing to satisfy- ing the high demand. We are proud of the opportunity to provide our combined know-how, and offer a glimpse into current and future de- velopments in the eighth edition of the First Vienna Residential Market × Report.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 78 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 val- ue preferences and attitudes of people towards work and recreation, family 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 re- search from INTEGRAL-SINUS and research into people’s lifestyles.
79 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2020 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 Vien- na 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 78 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 higher levels 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 com- ments and explanations of some terms used in this report. ALL REFERENCES TO PERSONS in this text are intended to refer to both genders. 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. SOURCE DATA EVERY EFFORT HAS BEEN MADE to ensure the accuracy of in- formation 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 loca- tions are in high demand at the moment, this might change quickly. IN OUR ANALYSIS OF THE HOUSING MARKET, we relied main- ly 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 ALL PRICES QUOTED FOR THE VARIOUS DISTRICTS OF VIENNA refer to square metres of net ﬂoor area (i.e. not including loggias, etc.). SALES PRICES are full ownership prices per square metre of net ﬂoor area, not including service and maintenance costs. RENTS are quoted net, exclusive of taxes and service charges. DEFINITIONS THE TERM "FIRST OCCUPANCY" in relation to prices refers to newly built apartments, or older buildings after complete refurbishment. "OTHER" refers to tenancies and sales of second-hand homes. IN AUSTRIA, older buildings (i.e. non-subsidised buildings constructed with planning permission before 1953 and owner-occupied houses 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.
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 GmbH editorial team DI Elisabeth Bartos-Stock Peter Friedrich Berchtold Dr. Ingrid Fitzek-Unterberger Natascha Toegl, MA EHL Wohnen GmbH editorial team DI Sandra Bauernfeind FRICS Ing. Elisabeth Hartwig Mag.(FH) Theres Kolarz-Lakenbacher TOGETHER WITH INTEGRAL Markt- und Meinungsforschungsges.m.b.H. Partner of SINUS Heidelberg – Berlin – Singapore Mohsgasse 1, 1030 Wien, Austria Phone: +43 1 799 19 97 0 IDEA, CONCEPTION AND GRAPHIC DESIGN M’CAPS Group Friedrich-Schmidt-Platz 4 /1A, 1080 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: February 2020 Errors exempted. The information and forecasts in this report are given to the best of our knowledge. Photo credits: dreizueins GmbH (Cover, U2, p. 3), Rudy Dellinger (p. 1), schneider + schumacher (p. 7), Stephan Huger (p. 15), JAMJAM (p. 77) Fotocredits for Sinus-Milieus®: Shutterstock (Artazum, Breadmaker, Photographee.eu), Plainpicture (Conny Fridh), Fotosearch (Marc Gerritsen), M‘CAPS Group
FIRST VIENNA RESIDENTIAL MARKET REPORT www.residentialmarketvienna.at
FIRST VIENNA RESIDENTIAL MARKET REPORT www.residentialmarketvienna.at