FIRST VIENNA FIRST VIENNA RESIDENTIAL RESIDENTIAL MARKET REPORT MARKET REPORT EDITION 2021
Illus fehlen hier noch EDITORIAL DEAR READER We are pleased to present the First Vienna Residential Market Report, the ninth edition of our joint publication. THIS HAS BEEN A TURBULENT YEAR with the pandemic leav- ing its mark on every aspect of the economy, resulting in long-term ef- fects for many. The real estate industry has not remained unscathed by the crisis, although the residential market is showing significantly more stability: The demand for residential accommodation remained high in 2020 – probably due to the fact that residential property is a safe form of investment in general. THE HIGH DEMAND also resulted from constantly increasing numbers of one-person households and the continued rise in Vienna’s population, which is due to reach the two million mark in 2028. In contrast, property developers in 2021 will still have challenges to face as land available for development has become scarce in the capital and construction costs are still increasing despite the pandemic, although less dynamically than in previous years. WE AT BUWOG as the largest private housing developer in Vienna, AND EHL IMMOBILIEN as a leading real estate services provider, continuously analyse the opportunities, risks, and trends affecting the Viennese housing market. The past year has brought even more focus on the home, raising issues such as: What role does digitalisation play in the residential space? How can we best combine sustainability and affordability in residential de- velopment projects? How will future residential project planning respond to the increased trend of working from home in the light of the pandemic? We will be going into this last question on page 14. “The past year has brought even more focus on the home, raising important questions concern- ing the housing market.” IN THE FIRST VIENNA RESIDENTIAL MARKET REPORT, we will be sharing our experience and expertise for a more in-depth and com- prehensive insight into the market. THIS REPORT INCLUDES details on developments, prospects, and special feature considerations that apply to the Viennese housing market to help in making a decision when looking for a place to live. FASCINATING FACTS AND FIGURES are available as you browse through the 2021 First Vienna Residential Market Report. × 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
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 02 INTRODUCTION TABLE OF CONTENTS 01 EDITORIAL INTRODUCTION TABLE OF CONTENTS OUR MOTIVATION BUWOG GROUP GMBH EHL IMMOBILIEN GROUP HOUSING MARKET OWNERSHIP STRUCTURE IN 2020 DEMOGRAPHICS OF AUSTRIA HOUSEHOLDS IN AUSTRIA DEMOGRAPHICS OF VIENNA HOUSEHOLDS IN VIENNA FACTS FIGURES TRENDING TOPIC: LIVING SPACE IN THE FUTURE 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 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 66 67 68 69 70 71 72 73 74 75 76 78 80 1080 VIENNA · JOSEFSTADT 1090 VIENNA · ALSERGRUND 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 & EHL IMMOBILIEN PROJECTS MARINA TOWER / BUWOG KENNEDY GARDEN / BUWOG RIVUS VIVERE / BUWOG HELIO TOWER / BUWOG INSIDE XIX / BUWOG KRUGERSTRASSE / EHL IMMOBILIEN KÖRNER-KASERNE / EHL IMMOBILIEN WILDGARTEN / EHL IMMOBILIEN POLDINE UND SELMA AM PARK / EHL IMMOBILIEN FLORIDO YARDS / EHL IMMOBILIEN CLOSING WORDS GLOSSARY IMPRINT
03 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 INTRODUCTION OUR MOTIVATION ALREADY IN ITS NINTH EDITION, the First Vienna Residential Market Report will be gathering together the extensive knowledge at BUWOG and EHL in 2021: the two companies share comprehensive know- how and experience in the property business from their longstanding presence on the property market. WHAT MAKES THE FIRST VIENNA RESIDENTIAL MARKET REPORT SPECIAL is its high information value, as the report focuses only on prices actually achieved at sales or tenancy contract conclu- sions rather than offer prices – this is unique amongst the many other market reports and studies. OUR SERVICE FOR READERS: → A detailed overview of developments on the Viennese residential market → Important facts, statistics and figures → Property trends → Comparative figures for Vienna and its individual districts in the new updated edition 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). ×
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 06 HOUSING MARKET OWNERSHIP STRUCTURE IN 2020 VIENNA HAS AN EXTRAORDINARY HOUSING MARKET com- pared to other federal states: the city has approximately 913,000 inhabited apartments, of which around seventy-seven percent are rented. Of these about 702,000 rented apartments, approximately 397,000 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 com- pared to other forms of housing, while still remaining largely stable. The single-family house still dominates as the most popular form of housing in Austria, but this proportion is very low in Vienna. × HOUSING STOCK 2020 VIENNA AUSTRIA TOTAL APARTMENTS AS MAIN RESIDENCE 913,000 3,954,000 CONSISTING OF OWNER-OCCUPIED HOUSES OWNER-OCCUPIED APARTMENTS RENTED OTHER SOCIAL HOUSING COOPERATIVE HOUSING OTHER RENTALS Source: Statistics Austria, deviations possible due to rounding differences ABSOLUTE FIGURES ABSOLUTE FIGURES 54,000 118,000 702,000 207,000 190,000 305,000 39,000 1,477,000 439,000 1,663,000 276,000 656,000 731,000 375,000
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 08 HOUSING MARKET DEMOGRAPHICS OF AUSTRIA DEMOGRAPHICS OF AUSTRIA THE COURSE FOR GROWTH CONTINUES: according to latest forecasts the population of Austria is expected to reach the nine million mark in 2023. As at January 1, 2020, Austria was home to 8,901,064 people, of whom 5,486,522 were between 20 and 64 years old. At the start of 2020, the average age of the people living in Austria was 42.9 years. × DEMOGRAPHIC OUTLOOK FOR AUSTRIA AGE PROFILE OF POPULATION AS AT JANUARY 1, 2020 2020 TO 2070 Population 10,000,000 8,901,064 9,796,723 8,000,000 6,000,000 4,000,000 2,000,000 0 2000 2010 2030 2040 2050 2060 2020 Year 2070 1,720,915 0-19 YEARS 1,693,627 > 65 YEARS 5,486,522 20-64 YEARS FORECAST → Nine million people will be living in Austria by 2023. → By 2070, the population of Austria is expected to rise to 9,796,723 people. → This corresponds to an increase by around 10% from 2020 to 2070. → By 2070, 28.9% of the population will be 65 years or over, up from 19% in 2020. → The number of people living in Austria below the age of 20 will continue to drop gradually, from 19.3% in 2020 to 18.7% by 2070.
09 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 HOUSEHOLDS IN AUSTRIA THE TREND TOWARDS SMALL HOUSEHOLDS CONTINUES: The average household size of the 3,947,204 private households in Austria was 2.22 people in 2019. For comparison: an average of 2.70 inhabitants shared each household in 1984, compared to just 2.09 projected for 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 only 2.09 persons.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 10 HOUSING MARKET DEMOGRAPHICS OF VIENNA VIENNA IS GROWING BUT MORE SLOWLY THAN BEFORE as current forecasts predict that the population of the capital will hit the two million mark only in 2028. As at January 1, 2020, the population of Vienna was 1,911,191. Of these, 315,490 people were older than 65, and 368,930 were younger than 20 years of age. On January 1, 2020, the average age in Vienna was 41 years. × DEMOGRAPHIC OUTLOOK FOR VIENNA AGE PROFILE OF POPULATION AS AT JANUARY 1, 2020 2020 TO 2070 1,911,191 2,240,120 368,930 0-19 YEARS 315,490 > 65 YEARS 1,226,771 20-64 YEARS Population 2,000,000 1,750,000 1,500,000 1,250,000 1990 2000 2010 2030 2040 2050 2060 2020 Year 2070 FORECAST → Vienna will only reach a population of more than two million by 2028. → By 2070, the population of the city is expected to reach 2,240,120. → This corresponds to an increase of 17.2% from 2020 to 2070. → By 2070, 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 19.3% today to 19.2% by 2070.
11 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 HOUSEHOLDS IN VIENNA ACCORDING TO FORECASTS there will be more than a million households in Vienna by 2035. This is, among other things, due to decreasing household sizes: in 2020 there were 930,979 private households in Vienna with an average household size of just 2.04 people. If the development con- tinues an average household size of 2.02 people can be expected in 2080. × 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 | 2021 12 FACTS USEFUL FACTS ABOUT VIENNA THIS PAGE PROVIDES YOU WITH INTERESTING DETAILS on the Austrian capital – all at one glance. × NUMBER OF BUILDINGS OVER TIME* 8 4 9 2 7 , 1951 4 3 0 9 7 , 1961 9 0 2 , 6 9 1971 1 2 3 4 3 1 , 3 9 6 , 3 5 1 7 6 1 , 8 6 1 1981 1991 2001 6 4 7 4 6 1 , 2011 3 5 5 0 8 1 , 0 6 1 , 1 8 1 2019 2020 POPULATION DENSITY* GREEN SPACE IN PERCENT* VIENNA: 46.07 PERSONS PER HECTARE VIENNA: 49.6% (OUT OF TOTAL AREA) Lowest density: Hietzing 14.3 persons per hectare Highest density: Margareten 274.0 persons per hectare Highest percentage of green space: Hietzing: 70.6% UP TO 100 101 TO 200 201 AND MORE Lowest percentage of green space: Josefstadt: 1.9% UP TO 25% 26 TO 50% MORE THAN 51% PUBLIC TRANSPORT* STREETS IN VIENNA* PASSEN- GERS LENGTH OF LINES LINES SHORTEST STREET: IRISGASSE METRO SERVICES 459.8 Mio. 83.0 km 5 LONGEST STREET: HÖHENSTRASSE TRAMS 304.8 Mio. 225.4 km 28 TOTAL LENGTH OF STREETS BUSES 196.1 Mio. 661.9 km 131 NUMBER OF ROADWAYS TOTAL 960.7 Mio. 970.3 km 164 17.5 m 14.9 km 2,786 km 6,912 0 2 0 2 t a s A *
13 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 PANDEMIC AND AFTERMATH FIGURES HOME BECAME THE CENTRE OF MANY PEOPLE’S LIVES during the pandemic with family, work and school all in one place. This will have long-term effects on the criteria set by apartment seekers. × USABLE LIVING AREA* VIENNA: 52 m2 PER RESIDENT Lowest living areas: Leopoldstadt & Brigittenau: 39 m2 per resident APARTMENT SIZES** BY FEDERAL STATE, IN m2 UP TO 39 m2 40 TO 49 m2 > 50 m2 Highest living area: Josefstadt: 78 m2 per resident 100.0 124.0 115.9 109.2 107.8 Austria Burgenland Lower Austria Upper Austria Carinthia 105.6 98.9 97.6 96.9 73.7 Styria Vorarlberg Tyrol Salzburg Vienna IMPORTANCE OF HOUSING FACTORS*** Unimportant Garden Terrace or balcony Floor plan Area or size BEFORE COVID-19 WITH COVID-19 Very important Unimportant Very important Garden Terrace or balcony Floor plan Area or size +16% +3% -3% -7% 0% 20% 40% 60% 80% 100% 0% 20% 40% 60% 80% 100% SATISFACTION WITH PROPERTY SIZE**** DURING THE CORONA CRISIS 69% 81% 79% 73% 76% 2% 5% 14% 24% 12% 20% 12% 6% 2% 8% 9% 2% 2% 2% 3% up to 60 m2 61 to 90 m2 91 to 120 m2 more than 120 m2 total just as satisfied as before more satisfied than before less satisfied as before just as unsatisfied as before : e t a d e c n e r e f e r , R B W , y p o c 0 2 0 2 h c r a M , R W G A * i s c i t s i t a t s a n n e V n o i t a u c l a c , 0 2 0 2 c e D 1 l 9 1 0 2 t a s a t c e r r o c , a i r t s u A s c i t s i t a t S : e c r u o S * * l 0 2 0 2 y u J t a s a t c e r r o c , t a . t e n n h o w d n a L A E R s : e c r u o S * * * , . . H b m . . s e G g n u l t t i m r e V n e i l i b o m m I n e s i e f f i a R : e c r u o S * * * * 0 2 0 2 l i r p A t a s a t c e r r o c
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 14 TRENDING TOPIC LIVING SPACE IN THE FUTURE DEMOGRAPHIC AND CLIMATE CHANGES are known to influence requirements on housing, but the pandemic and ensuing lockdown measures have also had a lasting effect on people’s requirements and priorities. Planners and property developers will need to react to the latest developments to keep up, and we will be seeing the result in the coming years of residential development projects. What awaits us? PARTICIPATION will play a key role in this. There will be an additional focus on alternative forms of living planned according to the respective target market, such as housing projects specifically for single parents, assisted or supervised living respectively barrier-free living for senior citizens. The aspect of self-sufficiency and the building of a community in a megacity can also be furthered by activitites such as urban gardening. WORKING FROM HOME IS A TREND that will probably remain with us even after the pandemic, to a certain extent becoming the new normal. Apartments always show a tendency towards decreasing in size, and residents will want to make the maximum out of the minimum space available. This is achieved, on the one hand, by using flexible and multifunctional floor plans with room dividers and niches to create a separate work area in the living room on the fly, for example. ON THE OTHER HAND, common spaces will play an increasingly important role. We will need to ask ourselves whether co-working spaces would make sense alongside playrooms, communal kitchens, and gyms in residential projects. This might present considerable benefits for residents, especially for those that would no longer need to rent offices while keeping the focus on living rather than working within their own four walls. “Private outdoor spaces such as balconies and terraces need to become standard in Vienna – and they need to be appealing for residents.” THE INCREASING ATTRACTIVENESS OF RURAL AREAS, es- pecially in the past year, should not be ignored. Extensive nature reserves in the immediate vicinity are one major reason. Private outdoor spaces such as balconies and terraces need to become standard in Vienna – and they need to be appealing for residents. Intelligent planning ensures that a balcony is a place to feel comfortable rather than being on display. × “Working from home is a trend that will probably remain with us even after the pandemic, to a certain extent becoming the new normal.”
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 16 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 so- c 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 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 | 2021 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 performance 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 | 2021 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 ma- jor roads/motorways. Metro lines that are currently under construction are shown as broken lines. × U2 METRO LINE, CURRENTLY UNDER CONSTRUCTION U5 METRO LINE, CURRENTLY UNDER CONSTRUCTION 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 * under construction A21 S1 VIENNA AIRPORT
19 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 THE TABLE contains all key data and facts regarding population, in- come, property prices, and rents. 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* SALES PRICES ON CONCLUSION RENTS ON CONCLUSION 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 16,047 105,848 91,680 33,212 55,123 31,651 31,961 25,021 41,884 207,193 104,434 97,078 54,040 93,634 76,813 103,117 57,027 51,497 73,901 86,368 167,968 195,230 110,464 € 27,864 € 20,053 € 22,269 € 24,365 € 19,699 € 21,937 € 22,764 € 25,731 € 24,054 € 19,752 € 19,537 € 20,349 € 26,741 € 22,853 € 18,343 € 20,309 € 22,420 € 25,480 € 25,699 € 19,059 € 21,080 € 21,391 € 23,373 FIRST OCCUPANCY € 19,800 € 5,600 € 5,750 € 5,800 € 5,300 € 5,700 € 6,150 n/a** € 6,250 € 4,700 € 4,150 € 4,550 € 6,250 € 4,900 € 4,600 € 4,650 € 4,600 € 6,200 € 7,000 € 4,400 € 4,400 € 4,600 € 4,300 OTHER € 13,500 € 4,150 € 4,200 € 4,300 € 4,000 € 4,250 € 4,600 € 4,900 € 4,500 € 3,000 € 2,700 € 3,150 € 4,400 € 3,350 € 3,150 € 3,100 € 3,200 € 4,200 € 4,700 € 3,000 € 3,000 € 3,050 € 3,150 FIRST OCCUPANCY n/a** € 12.70 € 12.80 € 13.30 € 12.00 € 13.20 € 13.30 € 13.50 € 13.10 € 11.30 € 10.50 € 11.70 € 13.10 € 11.90 € 11.70 € 11.70 € 11.50 € 12.80 € 13.30 € 11.50 € 11.30 € 11.70 € 10.80 OTHER n/a** € 10.50 € 11.00 € 11.30 € 10.70 € 11.20 € 11.20 € 11.60 € 11.40 € 9.60 € 9.40 € 10.30 € 11.50 € 10.60 € 10.30 € 10.40 € 10.30 € 11.10 € 11.20 € 10.40 € 10.20 € 10.30 € 10.20 * ** Source: Wage tax statistics for 2019, average annual net income for employees in total, in euros, valid as at December 2020 The sample observed was too small to deliver reliable and accurate information.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 20 1010 INNERE STADT AT THE HEART OF VIENNA P ROJECTS IN UNUSUAL NUMBERS – there haven’t been this many for a long time – are currently under development in Vienna’s First District. These include prestigious develop- ments around the City Hall, on Börseplatz 1, on Parkring 14, and at Palais Schottenring. Franz-Josefs-Kai also has new projects in planning. Luxury is no longer a matter of size, though – demand for one and two-bedroom apartments has significantly increased. Even so, the number of apartments in the city centre was lower than figures from previous years, which is most likely due to the pandemic and resulting lack of foreign investors. × 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 SPECIAL FEATURES OF DISTRICT U Karlsplatz HOTSPOTS The First District is the beating heart and historical core of the city. The ancient buildings and structures are an attraction in and of themselves with the legacy of old Vienna still visible today in its maze of alley- ways, magnificent inner courtyards, old passageways, and beautiful churches, especially the Gothic St. Stephen’s Cathedral. Memorial plaques bear witness to places steeped in history, such as Wolfgang A. Mozart’s house and Nestroy’s birthplace. Vienna Old Town is popular with tourists and locals alike. Sinus-Milieus® such as High Achievers and the Established are espe- cially attracted to the First District due to its exclusivity: High Achiev- ers appreciate the cosmopolitan environment and its proximity to cult bars and restaurants. The Established, on the other hand, feel at home in the elegance of institutions such as the State Opera and the Burgtheater. The “City” is more than a cultural and political centre, it’s also an office, business and shopping district. Pedestrian precincts such as EIGENTUM Kärntner Straße and Rotenturmstraße are popular for shopping or a ERSTBEZUG casual stroll. Downtown is all about the pleasure principle – whether SONSTIGE it’s over a “melange” coffee, a schnitzel, or a glass of Veltliner wine. MIETE ERSTBEZUG Burggarten and Volksgarten provide plenty of welcoming green spaces, SONSTIGE and account for around ten percent of the district’s total area. ZINSHAUS
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 22 1020 LEOPOLDSTADT ISLAND OF DIVERSITY O NE OF VIENNA’S LARGEST downtown development zones, Leopoldstadt has transformed into a popular res- idential area. This is mainly due to busy construction ac- tivity; one example is the development at the former Nordbahnhof railway station, which is already halfway towards completion. This project 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 experiencing a revival with residential high-rises such as Marina Tower alongside the Second District’s other high-rise projects in planning. Other hotspots in the district include the Vienna University of Economics and Business (WU) Campus, Stuwerviertel, and the Prater. × Nord- bahnhof Stuwer- viertel U Praterstern U Schottenring Prater U Schwedenplatz WU- Campus/ Messe Hauptallee U Stadion Handelskai U Donaumarina Praterkai HOTSPOTS SPECIAL FEATURES OF DISTRICT The Second and Twentieth Districts form the Mazzesinsel, or “Matzo Is- land” – matzo referring to the traditional unleavened bread enjoyed at Jewish holidays – between Donaukanal and the River Danube. A tradition- al centre of Jewish life, Leopoldstadt is probably one of the most diverse parts of Vienna. This district benefits from trendy bars on Donaukanal, kosher grocery stores in Karmelitermarkt, and hip cafés in Volkertmarkt alongside magnificent shopping streets such as Taborstraße and Prater- straße as well as enormous green sports and recreational areas such as Augarten and the Prater. The world-famous Vienna Boys’ Choir is based in Palais Augarten. The Prater is not only a paradise for joggers and cyclists, it also has the Wurstelprater amusement park with a Ferris wheel as its main attraction, and the venerable Ernst Happel Stadium. The Consumption Oriented Sinus-Milieu® is especially heavily represent- ed in Leopoldstadt. This milieu appreciates the district’s urban grätzel structure of small Viennese neighbourhoods with their traditional pub and tavern life, while attaching great importance to affordable housing and budget shopping opportunities. Green space accounts for more than half the area – surrounded by water, the district is the city’s green lung and a central recreational area for residents and visitors.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 24 1030 LANDSTRASSE TRADITION AND INNOVATION D EMAND FOR APARTMENTS in the Third District is as high as ever, making it one of Vienna’s most popular central residential districts. This is reflected in project development, as Landstraße has been affected by many large-scale inner-city project developments in recent years. These still include the three residential high-rises in the TRIIIPLE project on Erdberger Lände and The Marks at St. Marx. Other large-scale project developments include IU – idyllisch_ur- ban, An der Lände 36–38, and Lände 3 at Erdberger Lände with construc- tion already completed; these projects have received an excellent response from the market. × 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 Tense contrasts and strong growth are prominent in the Third District. The Konzerthaus concert hall, Hundertwasserhaus, and Belvedere with the state- ly baroque palace of Prince Eugen provide cultural enthusiasts with all they could wish for. The Third District has traces of the numerous places where world-famous composers such as Gustav Mahler completed their musical masterpieces; Ingeborg Bachmann and Adalbert Stifter wrote world litera- ture in Beatrixgasse. Busy shopping streets pulsate around Rochusmarkt, the heart of the district and a culinary paradise, alongside the elegant embassy quarter and hous- ing estates from the times of Red Vienna. Green areas such as the spacious Arenbergpark with its two striking flak towers and the banks of Donaukanal account for around fifteen percent of the total area of the district. Landstraße combines tradition and innovation with striking urban renewal projects, for instance, the modern mall aptly named “The Mall” near the Ring as well as the St. Marx urban development zone on the other side of the district. This dynamism and high development potential alongside the proximity to Vienna Downtown are additional reasons for the High Achiev- ers Sinus-Milieu® to feel especially at home in the district.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 26 1040 WIEDEN DELIGHTFUL WIEDEN T HE FOURTH DISTRICT has relatively few new residential construction projects due to the small area. Even so, Wiedner Hauptstraße has shown great development; areas such as around Südtiroler Platz are also very popular as they benefit from good metro and regional railway connections as well as local developments in recent years. Other hotspots in the district include Naschmarkt and Freihausviertel. × 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 Young and old, students and long-time residents, artists and academ- ics come together in Wieden. This makes for a colourful infrastructure with small boutiques and hip speciality shops around Margaretenstraße, countless galleries closely packed together, and a diverse bar and restau- rant scene in the Freihausviertel quarter as well as a rich variety of cultural attractions in Karlsplatz with its magnificent baroque church. The Post- materialists Sinus-Milieu® appreciates the district’s proximity to learning institutions such as the Technical University and the Theresian Academy, and the well-developed network of cycle paths. High Achievers are equally well-represented as they appreciate the diverse restaurants and cafés as well as the centrally located, prestigious residential environment close to the city centre. Many famous historical cultural figures have come to Wieden. Schikane- dergasse calls to mind the lyricist who wrote Mozart’s “Magic Flute“ that pre- miered in the former Freihaustheater in 1791. Not far from there, the Zau- berflötenbrunnen, or “Magic Flute Fountain”, is a further memorial to this piece of heritage. The many cosy corners and quaint alleys of this previous suburb on the River Wien go some way to compensate for the relatively sparse availability of green space at around ten percent of the total area.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 28 1050 MARGARETEN JOY OF LIFE IN THE FIFTH DISTRICT M ARGARETEN HOSTS A VARIETY of opportunities for smaller construction projects and apartment building restora- tion. All of them add to a general increase in the quality of life; the Fifth District has seen significant upgrades in recent years, and is catch- ing up with the Sixth District in terms of attractiveness. Prices have already risen around Matzleinsdorfer Platz due to the ongoing metro extension project. 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 here. Naschmarkt and Margaretenplatz are amongst the hotspots of the district. × Nasch - markt U Kettenbrückengasse U Pilgramgasse Margare- tenplatz U Margaretengürtel Reinprechtsdorfer Straße Wiedner Hauptstraße SPECIAL FEATURES OF DISTRICT Matzleinsdorfer Platz HOTSPOTS Margareten is very popular not only as a residential area, but also as a place to relax and have fun. A popular destination for revellers has developed around Margaretenplatz and Margaretenstraße with a variety of newly opened restaurants attracting students and bourgeois Bohemians. It comes as little surprise that Escapists and Digital Individ- ualists are especially heavily represented here. These Sinus-Milieus® appreciate not only the artistic and cultural scene, but also the inexpen- sive living opportunities near the Vienna Beltway. Change is less rapid in the working-class area with its high migrant population between the Margaretengürtel, part of the Beltway also known as the “Boulevard of the Proletariat” due to its massive public housing, and Reinprechtsdorfer Straße. A variety of personalities have left their names in the Fifth District. Aus- tria’s long-term Federal Chancellor Bruno Kreisky was born here, as were the popular folk actor Hans Moser and pop legend Hans Hölzl aka Falco. There is a pub on Ziegelofengasse with a shrine to Falco. Margareten may have little space for outdoor activities with its relative- ly low proportion of green space at 4.4 percent, but its many contrasts and dynamic development have turned the Fifth District into what is currently one of the most exciting parts of Vienna.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 30 1060 MARIAHILF CULTURE AND LIFESTYLE T HERE HAVE ONLY been a few new development projects in this densely built-up area after an intensive construction phase in re- cent years especially around Mollardgasse. Nonetheless, demand for housing is high, albeit with a definite slope towards the Westbahnhof rail- way station and the Beltway. The district is gaining in attractiveness from the newly designed Mariahilfer Straße and planned metro extension linking Maria- hilf to the U2 metro line. Sought-after residential areas mainly include Gum- pendorfer 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 Mariahilf – urban diversity at its best. The district is best known for Ma- riahilfer Straße, Vienna’s largest and most famous shopping street. The Naschmarkt on the other side near the River Wien is also a well-known sight to see. Not only fresh foods from all over the world are traded at around a hundred and twenty market stalls on this area of 2.3 hectares; trendy bars and restaurants give ideal opportunities to take a break and watch the colourful market in front of the gorgeous Art Nouveau build- ings in Wienzeile. The High Achievers and Postmaterialists Sinus-Milieus® alike appreciate this pleasant aspect of the area. The state-of-the-art traffic planning systems, places to meet, and bicycle and pedestrian precincts also attract these groups. The Haus des Meeres, or “House of the Sea”, located in a former flak tower, is the most striking building in Mariahilf; this is also a popular destination for young and old. One of the few green spaces in the district (accounting for almost four percent), the popular Esterházypark is close by. Culturally, the Sixth District is best known for its two large theatre halls, Theater an der Wien and Raimund Theater. Ludwig van Beethoven lived in the former for a time, while the latter was named after the great Maria- hilf dramatist Ferdinand Raimund.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 32 1070 NEUBAU ORGANIC AND HIP A DIVERSE RANGE OF ATTRACTIONS and first-class infra- structure dominate in Neubau, making it as popular as ever as a residential area. Demand for housing is especially high around the Museumsquartier and Neubaugasse hotspots. Even so, a stroll through the district reveals the decreasing attractiveness of the area towards the Vienna Beltway. The Seventh District currently only has a few smaller projects with the exception of a development for around a hundred and eighty apartments in the planned expansion to the former Sophienspital hospital. × 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 The Seventh District is considered to be the hippest in the city. From the lat- est in restaurant concepts and fashionable design studios on Neubaugasse to studio openings and off-theatre productions, this is where the hottest trends are set. Neubau not only has culinary diversity with a wide range of sustainable and organic delights, but also a thriving cultural scene in a highly concentrated format. The Museumsquartier, or MQ, on ninety thousand square metres in the former court stables is Vienna’s epicentre for the performing arts, archi- tecture, music, fashion, theatre, dance, and literature – its location alone makes it an extremely popular place to meet. The neighbouring Volkstheater is one of the country’s major theatre halls, and is also one of the first attractions to be found on entering the district. Three Sinus-Milieus® feel especially at home with this range of attractions: Postmaterialists, High Achievers, and Digital Individualists. Neubau has relatively little green space at 2.3 percent, but the diverse archi- tecture is all the more intoxicating. The district ranges from village-like Spittel- berg with its characteristic Biedermeier houses to the uptown Wilhelminian style on Mariahilfer Straße and the modern architecture of the main library on the Neubau Beltway, a building with a design abstractly based on a ship, 150 metres in length, featuring the largest flight of stairs in Vienna.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 34 1080 JOSEFSTADT EXCLUSIVE URBANITY J OSEFSTADT IS VIENNA’S SMALLEST district. Housing availability is scarce, which is mainly due to the shortage of free space and resulting low volume of construction activity. Nevertheless demand for housing is high. This has affected the prices of available housing even if it doesn’t make Josefstadt any less attrac- tive. 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 currently under construction on Blindengasse near the Josefstädter Straße hot- spot. × Alser Straße U Josefstädter Straße Josefstädter Straße Laudon- gasse Josef- städter Straße U Rathaus Lerchenfelder Straße HOTSPOTS SPECIAL FEATURES OF DISTRICT After the First District, Vienna’s smallest district has the most pres- tigious addresses that Vienna Downtown has to offer. Despite the bourgeois character, this is also home to many of the city’s artists and intellectuals. One example is Theater in der Josefstadt founded in 1788, Vienna’s oldest existing theatre hall and an important focal point in the district. Composers Ludwig van Beethoven and Richard Wagner are two major names associated with traditional bourgeois theatre, but works by Johann Nestroy and Ferdinand Raimund also premiered to exalted audiences here. Josefstadt has a close mesh of picturesque alleys and squares such as Piaristenplatz in its distinctly Italian style. Ödön von Horváth’s famous work “Geschichten aus dem Wiener Wald“ (Tales from the Vienna Woods) is set in the romantic Lange Gasse; the author him- self was also based here. Even so, Josefstadt also moves with the times. There are chic café bars and cool shops to add to the abundance of traditional coffee houses and pubs. The wide variety of cultural leisure attractions to- gether with the diverse range of cafés and restaurants at this traf- fic-calmed location makes the Eighth District especially attractive for the Postmaterialists Sinus-Milieu®. Green space may account for less than two percent of the district, but it is still possible to take a stroll and a breath of fresh air in picturesque small parks such as Schönbornpark behind the Volkskundemuseum museum of folk life and folk art.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 36 1090 ALSERGRUND UNIVERSITY LIFE IN ALL ITS DIVERSITY A LTHANGRUND, THE AREA between the former University of Economics and the Franz-Josefs-Bahnhof railway station, is currently the largest development project in the Ninth District. However, it doesn’t stop there as there are new residential projects elsewhere in Alsergrund such as on Grünentorgasse, Pflug- gasse, Liechtensteinstraße, and Nussdorfer Straße. A luxury residential project is currently underway on Berggasse. Popular hotspots in the district include Servitenviertel as well as the area around the previous Vienna General Hospital site known as the Altes AKH, and around Donaukanal. × 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 has several recreational areas such as Votivpark and Liechtensteinpark, the campus in the Old General Hospital, and the banks of Donaukanal – which take up seven percent of the total area. Alsergrund has a lively restaurant and café scene as well as a rich selection of cultural attractions due to, amongst other things, the many university sites and student halls. The Ninth District is divided into a number of different quar- ters with a partly steep slope from the Vienna Beltway to Donaukanal. This explains the many steps, some quite remarkable such as the Strudel- hofstiege steps immortalised in Heimito von Doderer’s novel of the same name. Arts and cultural attractions are scattered throughout the district with institutions such as the WUK, Volksoper opera house, and the Theater am Alsergrund that are just as popular as the Sigmund Freud Museum in Berggasse and the Schubert Museum in Himmelpfortgrund, the birthplace of the great Viennese composer. The district especially benefits from the newly built quarters north of Alserbachstraße as well as the student halls mentioned before, especially amongst the High Achievers Sinus-Milieu®. Postmaterialists, on the other hand, appreciate the various faculties of the University of Vienna and MedUni.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 38 1100 FAVORITEN MELTING POT IN THE SOUTH O NCE A CLASSICAL WORKING-CLASS DISTRICT, Fa - voriten is transitioning into a modern residential and office quarter. This is partly due to the many new development projects in the district, many of which include subsidised housing development. This rapid development activity includes projects such as Sonnwendviertel, Quartier Belvedere, and Biotope City at Wienerberg. The latter is already benefiting from the new route of the U2 metro line, which is currently under construction. × 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 has around two hundred thousand inhabitants, making it one the most heavily populated districts in Vienna – the district would be the fourth largest city in Austria on its own. A down-to-earth attitude and diverse population characterise the Tenth District – a variety of cultures and languages come together on the busy shopping streets of Favoriten- straße and Viktor-Adler-Markt. The Sinus-Milieu® of the Traditionals feels at home in the long-established residential areas with attractive housing costs, whereas Adaptive-Pragmatists appreciate the family-friendly atmo- sphere of less densely built-up neighbourhoods and newly developed res i- dential areas offering everything under one roof. The various old Viennese grätzel neighbourhoods in the Tenth District are as diverse as their residents, from the modern main railway station on the Vienna Beltway with its surrounding urban development area, the extensive residential areas, green oasis and Wienerberg office centre to rural Oberlaa with the Kurpark recreational facilities and thermal baths just within the city limits. The district consists of forty-six percent green areas presenting a wealth of opportunity for leisure and relaxation. The great innovative potential of the district is reflected in current urban development projects expedited by the U1 extension, projects such as Viola Park currently under development as well as the university of applied sciences campus on the Favoriten roundabout.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 40 1110 SIMMERING GOOD CONNECTIONS S OCIAL HOUSING takes up a large part of Vienna’s most affordable residential district. Most of the new development projects cover social housing as well as (subsidised) rental, owner-occupied and investment apartments. Privately financed resi- dential developers also increasingly appreciate the good infrastructural connections and high availability of land for development. This is reflect- ed in some new major projects planned in 2020. Currently, there are construction activities along Simmeringer Hauptstraße, Geiselbergstraße as well as on the former Siemens site between Leberstraße and Brehm- straße. × 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 Simmering, once a classical industry and workers’ district located on the outskirts of Vienna, is now perfectly connected to the city centre due to the many major traffic connections through the district (including the route to the airport). cemeteries in the world. The cemetery not only has countless tombs of famous personalities such as Ludwig van Beethoven and Joe Zawinul, but also brilliant Art Nouveau buildings. The combination of urban environment, infrastructure, and expansive rural areas makes Simmering unique. Green space accounts for almost forty-two percent of the district and includes agricultural areas, parklands, and many market gardens. The Zentralfriedhof central cemetery opened in 1874 is the district’s most famous sight, tourist attraction and recreation- al oasis; at an area of 250 hectares, this is also one of the largest urban The wide-area Simmering district has a relatively large supply of afford- able living space. This explains why the Traditionals and Adaptive-Pragma- tists Sinus-Milieus® are especially heavily represented as they value the neighbourhoods that have grown over time and family-oriented housing estates. The Consumption Oriented, on the other hand, enjoy the inexpen- sive shopping opportunities such as the EKZ Simmering shopping centre and those in the former gasometer.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 42 1120 MEIDLING ALL KINDS OF POTENTIAL G OOD CONNECTIONS to the U4 and U6 metro lines have given rise to high demand for living space in the district, es- pecially between Schönbrunner Straße and Wilhelmstraße. This explains the many development projects taking place now and in the future. One example is a multifunctional, large-scale project planned on the former Komet estate, which is set to boost development in the district. New housing developments have recently been completed on Rechte Wienzeile and Arndtstraße. The Wildgarten development area is seeing a variety of housing projects gradually taking shape near Hetzen- dorf, 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 Meidling is full of quiet squares and relaxed residential areas; the district also has excellent connections to Vienna Downtown. Meidling is some- what off the beaten track, but this is not necessarily a disadvantage due to the good transport connections. The district also has potential yet to be discovered. Meidlinger Markt is a culinary hotspot attracting mixed cus- tomers to its amazing restaurants and cafés. The Meidlinger Hauptstraße high street is not far away, providing a great opportunity for shopping or a casual stroll. The Consumption Oriented and the Traditionals Sinus-Milieus® feel es- pecially at home in this location. The former mainly appreciate Meidling for its affordable residential areas while the Traditionals appreciate the reasonable cost of living alongside the district’s pleasant, small-town at- mosphere in many of the traditional Viennese neighbourhoods. Haydnpark is one of the relatively scarce green spaces, which in total ac- count for 12.5 percent of the district’s area. The tombstone of famous com- poser Joseph Haydn is still preserved in the former cemetery. “Austropop” legend Georg Danzer – a major name on the current Austrian music scene – grew up in Meidling’s Gaudenzdorf quarter. The Twelfth District is also known for its density of churches, which range from the neo-Roman- esque Hetzendorf Church to the modern architecture of Gatterhölzlkirche. Off-theatre Werk X has established a presence as a contemporary temple of culture with its extraordinary productions.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 44 1130 HIETZING GREEN, GREENER, HIETZING T HE THIRTEENTH DISTRICT is seen as a highly attractive residential area with its many green and recreational spaces as well as Tierpark Schönbrunn zoological gardens – and not only amongst families. New residential space such as in Lainz and Spei- sing as well as the Ober St. Veit hotspot are being developed to meet the demand. 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 Green, greener, Hietzing – this district leads Vienna in terms of green spaces that account for no less than seventy percent of the district’s total area. It comes as little surprise this is one of Vienna’ most de- sirable residential areas. Tourists and day-trippers also love to go to the Wienerwald hills or the local recreation area of Lainzer Tiergarten park, a publicly accessible nature reserve further into the city. Hietzing’s magnificent cemetery where famous personalities such as Otto Wagner, Gustav Klimt, and Franz Grillparzer came to their final rest is also a great attraction with its panoramic view of the city. Moreover, Hietzing has a distinctly majestic aura. The former summer residence of the Habsburgs, Schloss Schönbrunn palace, and its opulent halls provide a unique op- portunity to delve into everyday life of the Kaisers, and also features a children’s museum, puppet theatre, and regular concerts. Schönbrunn palace gardens and the enchanting Tierpark Schönbrunn zoological gardens, the world’s oldest zoo still in operation, are also worth a look. 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 architectural variety of the district, while the Established appreciate the elitist residential area with its traditional mansions and high-class restaurants.
9 1 0 2 t a s a t c e r r o c ; i 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 e t a r t s i g a m e h t y b d e n a t n a m d n a i i d e g a n a m s t e e r t s c i l b u p n o s e e r T * * Schweizertalstraße 39 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 54,040 RESIDENTS 2020 63.6 km OF CYCLE PATHS 27,160 MAIN RESIDENCES 2020 1.99 PERSONS/HOUSEHOLD 2020 MOVED IN MOVED OUT MIGRATION BALANCE + – + 1,759 1,633 126 DEMOGRAPHIC FACTS 373 DOCTORS* 3 DOG ZONES 45 PLAYGROUNDS 6,410 STREET TREES** FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 30.8% -10.3% HIETZING 20.5% AVERAGE INCOME*** € 26,741 HIETZING € 21,710 VIENNA 5.8% 8.2% 9.6% 52.6% 23.8% 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 44.7 YEARS HOUSING COSTS (PRICE/m2) RENTED OWNER-OCCUPIED FIRST OCCUPANCY ..................................... € 6,250/m2 FIRST OCCUPANCY ...................................... € 13.10/m2 OTHER ........................................................... € 11.50/m2 OTHER .......................................................... € 4,400/m2 INVESTMENT PROPERTY ....... € 2,200 to € 5,300/m2 In this district, 435 changes of ownership were registered in the land registry in 2020, with a total sales value of approx. 161 million euros. 0 2 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 , 9 1 0 2 r o f s c i t s i t a t s x a t e g a W : e c r u o S * * * s e c i f f o ’ s r o t c o d f o r e b m u n l a t o T *
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 46 1140 PENZING THE GREEN GATES TO VIENNA T HE FOURTEENTH DISTRICT still has plenty of potential for development although many families already benefit from advantageous transport links (U4 metro line and the regional railway network) as well as spacious green areas. Families especially appreciate the Wolfersberg and Breitensee hotspot areas. There are also attractive developments in the urban areas of Penzing such as at the Körner-Kaserne barracks site. A new living area of around a hundred thousand square metres is currently under development here. Construc- tion also began for a large residential complex on Penzinger Straße 76 in 2020. The district has several investment apartment developments in- cluding 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 SPECIAL FEATURES OF DISTRICT Penzing U Hietzing Penzing ranks third amongst Vienna’s districts at around sixty-one percent green spaces and recreational areas. This is largely due to the Wienerwald hills, an area now mostly comprising a UNESCO Biosphere Park, which extends deep into the district; the Steinhofgründe are another recreational area of outstanding natural beauty with a spellbinding view of the whole city. This is also the location of a unique Art Nouveau church designed by Austrian architect Otto Wagner. Another world-famous Art Nouveau protagonist, Gustav Klimt, was born here on Linzer Straße in 1861. Anyone more inclined towards the natural sciences should consider paying a visit to the Technical Museum established in 1918. Sports aficionados should not miss the brand new Hütteldorf Stadium, which belongs to Austria’s largest football club, Rapid. This quiet outskirts location has good road and rail connections to the motorway and Austrian Western Railway; the traditional buildings, attractive estates with detached houses as well as high-quality residential development projects especially attract the Estab- lished and Conservatives Sinus-Milieus®. The various restaurants and coffee houses in Penzing embrace a wide range of culinary tastes for enjoyment in friendly company. One of Pen- zing’s specialities is the Sargfabrik, or “coffin factory”, which is the largest self-managed residential project in Austria and also a popular concert venue.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 48 1150 RUDOLFSHEIM- FÜNFHAUS RENEWAL ON TRACK R UDOLFSHEIM-FÜNFHAUS has undergone a transition from “problem district” to sought-after residential area. Con- struction activities currently mainly include restoration of old buildings, loft extensions, and some new development projects. The first urban Ikea including a hostel will be moving into the Westbahn- hof railway station in mid-2021, which is set to improve the area’s attractiveness. Nibelungenviertel and Sechshaus have also grown in popularity. Demand reflects this increasing quality of living in the Fifteenth District with the younger population especially appreciating the central location, good connections and infrastructure together with affordable housing prices in this inexpensive alternative location within the Vienna Beltway. × Nibe- lungen- viertel Hütteldorfer Straße U Johnstraße U Schweglerstraße HOTSPOTS Linzer Straße Felberstraße West- bahn- hof U Westbahnhof Mariahilfer Straße Rustengasse Reindorf-/ Rusten- viertel U Gumpendorfer Straße Reindorfgasse Sechs- haus SPECIAL FEATURES OF DISTRICT U Schönbrunn U Längenfeldgasse Rechte Wienzeile U Meidlinger Hauptstraße The Fifteenth District is a youthful and multicultural place of transition. Creative offices, new cafés, and fashionable boutiques stand next to one another on Reindorfgasse. Schwendermarkt has also been revitalised, and now provides a fine selection of fresh goods and international food specialities. At around a hundred and ten thousand square metres, the Auer-Welsbach-Park is the largest green space in the district, which has just over nine percent of green area. Named after the Austrian chem- ist Carl Auer von Welsbach, the park is a popular local recreation area in the lower part of the quarter. The Fifteenth District still lives up to its reputation as a working-class district in the other part above the West- ern Railway, which has been less affected by the changes. The Wiener Stadthalle civic centre near the Vienna Beltway is the largest venue in Austria with a variety of facilities for amateur and professional sports as well as concerts and other events. Three Sinus-Milieus® are especial- ly heavily concentrated in Rudolfsheim-Fünfhaus: Escapists and Adap- tive-Pragmatists appreciate the abundance of sports, entertainment, and shopping opportunities while the Consumption Oriented benefit from affordable restaurants and living space. Rudolfsheim-Fünfhaus is close to Vienna Downtown, placing it in an excellent position for future im- provement.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 50 1160 OTTAKRING BETWEEN ‘YOUNG’ WINE AND TRADITIONAL BEER O TTAKRING FEATURES many faces in the best way pos- sible as reflected in the highly diverse population between the Vienna Beltway and the Wienerwald hills. Small-scale development projects extending across the entire district dominate in the quarter’s current development, improving the district on a broad basis. 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 Ottakring provides a balanced mix of urban landscapes between Wiener- wald hills and Beltway. Wine taverns, hiking trails, a Wilhelminian quarter, student life and a cultural melting pot are all at home in Ottakring, as is the Wilhelminenberg local recreation area with enchanting views over Vienna. Green spaces account for around thirty percent of the district’s total area, mainly located towards the outskirts; the parts closer in are densely built-up areas with other attractions. Brunnenmarkt is a special highlight with its culinary specialities. The longest permanent street market in Europe is not only still highly affordable, it cannot be beaten in terms of variety. The hustle and bustle of the market can be observed from any one of the many cafés and restaurants on neighbouring Yppenplatz. Unsur- prisingly, the Escapists Sinus-Milieu® feels particularly comfortable here. They especially appreciate the multiculturalism and varied supply of shops, cafés, and restaurants, chiefly on Thaliastraße and Ottakringer Straße. Ottakring’s district brewery not only brews beer, known as the “16er- Blech”, it is also a venue for clubbing, concerts, and hip markets. Music composed by Karl Hodina, a well-known representative of the Viennese wine tavern genre, can still be listened to here. Ottakring’s established son found his final resting place at the local cemetery.
9 1 0 2 t a s a t c e r r o c ; i 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 e t a r t s i g a m e h t y b d e n a t n a m d n a i i d e g a n a m s t e e r t s c i l b u p n o s e e r T * * Römergasse 10–12 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 103,117 RESIDENTS 2020 42.8 km OF CYCLE PATHS 51,784 MAIN RESIDENCES 2020 1.99 PERSONS/HOUSEHOLD 2020 MOVED IN MOVED OUT MIGRATION BALANCE + 5,239 – 4,562 + 677 DEMOGRAPHIC FACTS 201 DOCTORS* 2 DOG ZONES 76 PLAYGROUNDS 3,481 STREET TREES** FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 30.8% OTTAKRING 36.8% +6.0% AVERAGE INCOME*** € 20,309 OTTAKRING € 21,710 VIENNA 6.1% 7.8% 11.6% 58.9% 15.6% 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 40.3 YEARS HOUSING COSTS (PRICE/m2) RENTED OWNER-OCCUPIED FIRST OCCUPANCY ..................................... € 4,650/m2 FIRST OCCUPANCY ...................................... € 11.70/m2 OTHER ........................................................... € 10.40/m2 OTHER .......................................................... € 3,100/m2 INVESTMENT PROPERTY ........ € 1,800 to € 3,800/m2 In this district, 1,056 changes of ownership were registered in the land registry in 2020, with a total sales value of approx. 221 million euros. 0 2 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 , 9 1 0 2 r o f s c i t s i t a t s x a t e g a W : e c r u o S * * * s e c i f f o ’ s r o t c o d f o r e b m u n l a t o T *
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 52 1170 HERNALS A BIT OF EVERYTHING J UST LIKE ITS DISTRICT NEIGHBOUR, Ottakring, Hernals also features an exciting contrast with a more urban part near Vienna’s city centre and the more rural outer area of Hernals. The district has seen much improvement mainly due to the ongoing U5 metro line extension project. The planned new turquoise line will be running from Karlsplatz to Elterleinplatz from 2026 onwards. This traf- fic-related trend will see an upsurge in prices as well as increased con- struction activity on the few remaining sites available for development. Long-established locations such as Neuwaldegg and Heuberg are recog- nised hotspots of the district. × Neu- waldegg Heuberg Alszeile HOTSPOTS SPECIAL FEATURES OF DISTRICT Hernalser Hauptstraße Hernals Wattgasse Elterlein- platz U Alser Straße Vienna’s Seventeenth District has a little bit of everything to offer. Hernals has a diverse local population as reflected in its varied neigh- bourhoods from estates with detached houses in the more rural part to Wilhelminian buildings and social housing towards the centre. The district’s attractiveness lies in its proximity to both Vienna Downtown and recreational areas such as the Schafberg and Schwarzenbergpark. No less than half of the district consists of green spaces. From the cultural perspective, variety theatre lovers will especially ap- preciate Hernals; the Wiener Metropol and Kulisse host the city’s most entertaining stage shows. Venues for contemporary and avant-garde art can be found especially towards the Yppenplatz district bordering on Ottakring. The great Austrian author Christine Nöstlinger grew up in the same area, just a few yards away from the Metropol. The Seventeenth District is not only a great day out but also a magnet for football fans. They all troop towards Vienna Sports Club stadium with the notorious Friedhofstribüne, or “graveyard grandstand”. It is located right next to the actual Dornbach graveyard. In particular, the Escapists Sinus-Milieu® is well-represented in Her nals. They appreciate the vibrant mix of lifestyle and culture. Attractively priced housing and proximity to the alternative pub scene, in the neighbourhood and on the nearby Vienna Beltway, appeal to this group.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 54 1180 WÄHRING PRETTY ELEGANT W ÄHRING IS STILL one of the most desirable residential areas in Vienna. The demand for living space is still very high with price levels to match. Popular hotspots include Kutsch- kermarkt, Währinger Cottage, and Schafberg. There is not much construction activity in Währing apart from occasional new housing projects such as on Gersthofer Straße. High-quality state- of-the-art loft extensions especially in restoration projects will add to the existing living space. × 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’s status as one of Vienna’s finer districts is mainly due to the part referred to as the Cottageviertel, or “cottage quarter”. Elegant villas and embassies as well as romantic gardens and parks line the border to Döbling. Viennese author Arthur Schnitzler lived together with his family at Sternwartestraße 71 near the university observatory until his death in 1931. The Eighteenth District is ideal for long walks in the romantic Pötzleinsdor- fer Schlosspark, around Kutschkermarkt, or in the expansive Türkenschanz- park, a name that harkens back to the siege of Vienna by the Ottomans in 1683. The popular street market and surrounding area have seen a real boom in recent years. The Postmaterialists Sinus-Milieu® is especially attracted to the district’s particularly family-friendly ambience, good connections to the city centre, and the abundance of green space accounting for twenty-seven percent of the total area of Währing. However, the Eighteenth District is also pop- ular amongst students for the district’s university institutions, especially the University of Natural Resources and Life Sciences, or BOKU, and the plentiful leisure opportunities.
9 1 0 2 t a s a t c e r r o c ; i 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 e t a r t s i g a m e h t y b d e n a t n a m d n a i i d e g a n a m s t e e r t s c i l b u p n o s e e r T * * Gersthofer Straße 119 / EHL Immobilien HOUSING FACTS GOOD TO KNOW 1,497 RESIDENTS 2020 26,670 MAIN RESIDENCES 2020 1.93 PERSONS/HOUSEHOLD 2020 MOVED IN MOVED OUT MIGRATION BALANCE + 2,786 – 2,361 + 425 DEMOGRAPHIC FACTS 29.9 km OF CYCLE PATHS 370 DOCTORS* 4 DOG ZONES 51 PLAYGROUNDS 3,617 STREET TREES** FOREIGN NATIONALS AGE PROFILE OF POPULATION VIENNA 30.8% -2.5% WÄHRING 28.3% AVERAGE INCOME*** € 25,480 WÄHRING € 21,710 VIENNA 5.8% 7.8% 11.0% 57.7% 17.7% 0–5 YEARS 6–14 YEARS 15–24 YEARS 25–64 YEARS > 65 YEARS AGE 41.2 YEARS HOUSING COSTS (PRICE/m2) RENTED OWNER-OCCUPIED FIRST OCCUPANCY ..................................... € 6,200/m2 FIRST OCCUPANCY ...................................... € 12.80/m2 OTHER ............................................................ € 11.10/m2 OTHER .......................................................... € 4,200/m2 INVESTMENT PROPERTY ........ € 2,100 to € 4,700/m2 In this district, 492 changes of ownership were registered in the land registry in 2020, with a total sales value of approx. 199 million euros. 0 2 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 , 9 1 0 2 r o f s c i t s i t a t s x a t e g a W : e c r u o S * * * s e c i f f o ’ s r o t c o d f o r e b m u n l a t o T *
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 56 1190 DÖBLING EXCLUSIVE PROSPECTS D ÖBLING IS IN ESPECIALLY HIGH DEMAND for its spacious and sumptuous living opportunities. This applies in particular to sought-after uptown areas such as in Sievering and Oberdöbling. The district’s exclusive green spaces also explain the high costs of housing here. Most of the district’s inhabitants belong to the high-income bracket, but there are also exciting new develop- ments such as on Heiligenstädter Lände near the Vienna Beltway and Donaukanal. × 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 amalgamation of ten localities that include Grinzing, Kah- lenbergerdorf, and Nussdorf. Most of these areas have kept their village character with their older building stock; this attracts many visitors to Vienna and contributes to the district’s distinct and attractive ambience. Döbling not only has the reputation of being one of the most exclusive addresses in Vienna, the district is also known for its extensive viticulture with wine taverns alongside beautiful destinations for a day out in the hills such as Kahlenberg and Leopoldsberg. Döbling has more than its fair share of natural attractions with both the Danube and the Wiener- wald hills; green spaces make up no less than fifty-two percent of the district’s total area. The Established and Postmaterialists Sinus-Milieus® represent most of the district’s population. The Established are attracted to the mansion neighbourhoods, high-quality shopping, and exclusive pubs and restau- rants, whereas Postmaterialists appreciate the quiet traffic situation and expansive green spaces. It comes as little surprise that many stars and personalities such as Peter Alexander and politicians including Bruno Kreisky have chosen Döbling to be their place of residence. Even so, a number of large public and cooperative housing developments in the district provide a fascinating contrast to the wine taverns and posh vil- las of the quarter. These include the most grandiose buildings for public housing in the city – at 1,050 metres in length, Karl-Marx-Hof is consid- ered to be the world’s longest continuous residential building.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 58 1200 BRIGITTENAU JOIE DE VIVRE ON THE WATER B RIGITTENAU IS STILL relatively affordable compared to the neighbouring districts of Leopoldstadt and Alsergrund. This mainly attracts younger population groups. A new district is planned on the site of the former Nordwestbahnhof railway station from 2025; this new district will bridge the divide that the station grounds have created between the two parts of Brigittenau. Large-scale developments such as Am Kai with three hundred new apartments at Millennium City are addressing the 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 SPECIAL FEATURES OF DISTRICT Nord- westbahn- hof Separated from Leopoldstadt only around 1900, Brigittenau is one of Vi- enna’s newest districts. The Twentieth District is named after the Brigit- takapelle chapel built in Forsthausplatz in the middle of the seventeenth century; the chapel itself is well worth seeing. Hannovermarkt, the culinary centre of the district, is located right next to the neo-Gothic Church of St. Brigitta. The market offers all kinds of inexpensive delights mainly from the Far East, but also from the region. Brigittenau is particularly attractive to the Consumption Oriented Sinus- Milieu® due to its relatively low prices for residential property and eating out, while Adaptive-Pragmatists appreciate the well-developed transport links and diverse sports facilities available on the green spaces that account for almost thirty percent of the district. Apart from smaller parks, the Danube, Donaukanal, and Augarten provide fine local recreation areas along the district borders. The recently opened Vindobona variety show in Wallensteinplatz is one of the main cultural highlights known throughout Vienna. The newly de- signed square on constantly busy Wallensteinstraße is ideal for stopping and enjoying life with its multitude of bars and places to sit down and relax.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 60 1210 FLORIDSDORF BETWEEN OLD AND NEW F LORIDSDORF is a particularly attractive district for project de- velopers due to its large supply of land, and construction activity is relatively high here. The available sites provide a host of opportuni- ties for developing efficiently planned and affordable housing. Construction projects along Brünner Straße, on the former Siemens site, and on Breiten- leer Straße add to the benefits of the Twenty-First District. One outstanding example is the Am Park residential project with around 1,260 apartments under development on an area of around 8.2 hectares. × 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 Many Viennese see Floridsdorf as a remote working-class district over the river in what they call “Transdanubia”, but the district has much more to offer. Life is definitely good between Bisamberg, the Old and New Danube, amongst villages with well-preserved buildings in many places, the romantic alleyways with their wine cellars and wine taverns bursting with character. The many meadows, fields, green banks, and natural gems such as the Floridsdorf water park amount to almost forty-four percent of the green spaces in the district, providing a variety of local recreation areas. The areas with their village atmosphere as well as the extended med- ical care facilities mainly attract the Traditionals Sinus-Milieu®, while the heavily represented Adaptive-Pragmatists appreciate the area near Donauinsel with its variety of leisure facilities and family-friendly resi- dential environment. The New Middle Class is also strongly in evidence here for the harmonious neighbourhoods on the outskirts. A historical stroll down Beethovenweg with its decorative statues and buildings is an ideal way of becoming better acquainted with the dis- trict. This stroll follows the footsteps of Ludwig van Beethoven, who regularly crossed the Danube to visit his acquaintance Countess Erdödy at the Landgut zu Jedlesee estate in the nineteenth century. The route also leads past Karl-Seitz-Hof, a fortress of a “palace” from the times of Red Vienna.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 62 1220 DONAUSTADT STARK CONTRASTS D ONAUSTADT is a district of busy construction activity due to the comparatively high availability of land for residential projects. Large development areas have extended beyond Wagramer Straße and Donaufelder Straße, and have now spread across the entire district. Seestadt Aspern has additional privately financed apartments in advanced stages of development with the Danube Flats and DC 3 projects, the latter currently under construction, to add to the Viennese skyline right on the Danube. The Old Danube is not only a place of recreation, it’s also a desirable residential area. Vienna Twentytwo is currently the largest development project with new apartments, offices, and hotels to be built over the next few years on an area of around fifteen thousand square metres. × 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 City and country, urbanity, agriculture, and primeval forest. No other district has contrasts quite as stark as they are in Donaustadt. Vienna’s largest district includes the skyline of Vienna as well as UNO-City on the Danube alongside the enormous urban development area of Seestadt Aspern and its extensive estates with their detached houses, parts of rural Marchfeld, and Lobau in the Donau-Auen National Park. The prevailing Sinus-Milieus® reflect this diversity; Seestadt Aspern attracts many Adaptive-Pragmatists, while the Established feel at home in the more green and tranquil residential areas. The New Middle Class also shows a strong presence as they are attracted to the district’s long-es- tablished residential buildings with plenty of room for the whole family. At more than sixty percent green space, Donaustadt is not only a popular residential area, but also a place to go on a day out for many of Vienna’s townsfolk. Reflecting the young population, prominent personalities from the district include Austrian football star David Alaba and singer-songwriter Der Nino aus Wien. The latter can also be seen at Orpheum Wien, a well-known variety show.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 64 1230 LIESING EIGHT TREASURES V IENNA’S TWENTY-THIRD DISTRICT has plenty of devel- opment land available for affordable housing as well as mansions out in the open country. The new In der Wiesen non-profit housing project is a current example. Brown field sites are currently being repurposed into residential developments along Breitenfurter Straße, the river Liesing- bach, and on Rosenhügel. Plenty of affordable living opportunities are emer g - ing from the high level of residential development in a district that is also gaining in attractiveness from the new connection to 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 district now known as Liesing was once eight villages that amalga- mated into the Twenty-Third District in the twentieth century. Vienna’s newest district boasts especially high quality of living due to its high proportion of green space at just over thirty-two percent as well as the good connections to the metro, regional railway services, and the motorway. This diverse district is characterised by industrial areas, for instance in Inzersdorf, Atzgersdorf, and Liesing, as well as more rural parts such as Rodaun and Kalksburg. Siebenhirten and Erlaa both have large resi- dential estates, especially the famous monumental buildings of Alterlaa residential park, whereas Mauer mostly has detached houses and villas. The excellent growth potential and nearby local recreation areas such as Wienerwald hills and Liesingbach valley make Liesing especially attractive to the Established Sinus-Milieu®. Conservatives are also well-represented here as they appreciate this area steeped in tradition and its proximity to the imperial atmosphere of Hietzing as well as the Schloss Rodaun and Schloss Erlaa palaces. Those interested in architecture will enjoy the fascinating Wotruba Church in Mauer, a church composed entirely of cubic shapes. Adelheid Popp, a figurehead of the Austrian feminist movement, was a well-known daughter of the district. A street, a public building as well as a park in Vienna are named after her.
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 76 CLOSING WORDS VIENNA IS DIFFERENT ANYONE WHO KNOWS VIENNA knows that Vienna is different. Aus- tria’s capital also stands out in international comparison with its high social standards, well-developed communications infrastructure in con- tinuous optimisation, and, of course, the above-average quality of living that comes with it. VIENNA ESPECIALLY EXCELS in its diversity: the unmistakably Viennese flair combines with cult districts, traditional coffee house cul- ture with hip street markets, Wilhelminian-style houses with large-scale urban development programmes, and extension development areas with innovative architectural styles. The masterful mix of preservation ever, it is the property developers’ responsibility to create the type of living space that the city needs and requires, regardless of whether it is a non-profit or private project. Our own four walls have become the centre of everyday life during the pandemic; intelligent floor plans right from the start play an essential role in creating flexible (living) space, and at affordable prices wherever possible. THIS WILL CONTINUE to make for exciting times for the de- velopment and real estate industry as construction costs and the immediate impact they have on housing prices in some cases are difficult to predict. “It is the property developers’ responsibility to create the type of living space that the city needs and requires, regardless of whether it is a non-profit or private project.” of tradition and openness to new ideas goes hand in hand with the most diverse needs and demands of the residents of Vienna, and that includes living standards. DESPITE THE GROWING SCARCITY of land available for develop- ment, Vienna still has enormous potential with no end in sight. How- WE AT BUWOG AND EHL IMMOBILIEN aim to take an active role in shaping the market, and ensuring that our activities address the in- dividual needs of those looking for a place to live. We are proud of the opportunity to provide our combined know-how in the First Vienna Residential Market Report offering a glimpse into current and future developments for the ninth time. ×
FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 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 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.
79 FIRST VIENNA RESIDENTIAL MARKET REPORT | 2021 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 comments and explanations of some terms used in this report. ALL REFERENCES TO PERSONS in this text are intended to refer to both genders. 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 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 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 built 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 Rathausstraße 1, 1010 Wien, Austria Phone: + 43 1 878 28-1000 E-mail: email@example.com www.buwog.at EHL Wohnen GmbH Prinz-Eugen-Straße 8–10, 1040 Wien, Austria Phone: + 43 1 512 76 90 E-mail: firstname.lastname@example.org www.wohnung.at EDITORIAL TEAM BUWOG Group editorial team DI Elisabeth Bartos-Stock Peter Friedrich Berchtold Thassilo Hazod, MA Natascha Toegl, MA EHL Wohnen editorial team DI Sandra Bauernfeind, FRICS Ing. Elisabeth Hartwig Magdalena Roll, BA 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 2021 Errors exempted. The information and forecasts in this report are given to the best of our knowledge. Photo credits: ZoomVP.at (p. 1), BUWOG / dreizueins (p. 3 und 7), BUWOG / infinityeleven (Cover, p. 15 und 76), BUWOG (U2) Photo credits 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