According to the report, there are approximately 913,000 units of occupied housing in Vienna. About 77% of them, or 702,000 are rented out. More than half of the rental housing 397,000 is owned by the city or non-profit housing associations.
The proportion of people living in their own apartments in Vienna and throughout Austria is about the same; it is small compared to other forms of living. At the same time, single-family homes still prevail in Austria as a whole, but there are very few of them in Vienna.
|Housing stock in 2020||Vienna||Austria|
|Housing used as the main place of residence, total||913 000||3 954 000|
||54 000||1 477 000|
||118 000||439 000|
|Rented real estate, total||702 000||1 663 000|
||207 000||276 000|
||190 000||656 000|
||305 000||731 000|
|Other||39 000||375 000|
There is a well-formed rental market in Vienna, where any investor has a good chance to hand over the object. At the same time, rental rates in Vienna are called the highest in Central Europe.
The population of Austria as of January 1, 2020 was 8,9 million. 1.9 million people lived in Vienna. It is expected that the population of the capital will overcome the mark of 2 million in 2028. By 2070, the number of inhabitants may reach 2,24 million.
The growing population of the Austrian capital means that housing will continue to be in demand in the future.
Distribution of Viennese by age as of January 1, 2020.
|0-19 years old||368 930|
|20-64 years old||1 226 771|
|> 65 years||315 490|
According to forecasts, the population of the capital will age. By 2070, 23.9% of the city's residents will be over 64 years old, compared to 16.5% now. At the same time, the share of Viennese under the age of 20 will decrease from 19.3% to 19.2%.
A typical tenant of housing today is a middle-aged working person, and in a couple of decades it will most likely be a pensioner.
By the beginning of 2020, there were 930,979 private households in Vienna, of which 508,603 consisted of several people, and 422,376 consisted of just one. The average household size is 2.04 people.
It is expected that by 2080 the number of households in the capital will grow by 23%, to 1.145 million. At the same time, the number of families consisting of one person will grow at a faster pace. The average family size will decrease to 2.02.
When choosing the size of an apartment that will be rented out, it is useful to focus on small families or single people.
The average population density in the Austrian capital is 46.07 people per hectare. For comparison: in Paris – more than 200 people per hectare, in Moscow – 49 people per hectare.
The maximum density is in the Margareten area: 274 people per hectare. This is a popular place to live and relax. The incomes of local residents are relatively small, but housing prices are quite high, which makes people condense.
The minimum density is in the Hitzing district: 14.3 people per hectare. The Leinzer Tiergarten Nature Reserve and the Schoenbrunn Palace with its surrounding park are located in this area.
Thus, both the most densely populated and the lowest density areas are of interest to the investor.
At the beginning of 2021, 31.5% of people living in Vienna (805,000 people) were foreigners.
|Country of origin||Population|
Vienna attracts foreign citizens from prosperous countries. Migration provides the main part of the population growth of the capital. According to the results of a recent study, Vienna was included in the top ten cities in the world in terms of quality of life. This means that people will strive to move to the Austrian capital, and local apartments have all the prospects for further price increases.
Freen areas are unevenly distributed. In the Josefstadt district (the very center of the city) greenery occupies only 1.9% of the area. The greenest area is Hitzing (70.6% of the area). This is a prestigious place, despite the distance from the center.
The network of bike paths in Vienna has a length of 1,431 km and covers most of the city. For comparison, the total length of the streets is only twice as long – 2,786 km. It is natural for Viennese to live in green areas and use a bicycle as a means of transportation.
Despite the fact that the central areas of the city devoid of greenery, they are traditionally considered the best and most expensive ones. Locals appreciated the proximity of green spaces even before the pandemic began. With the onset of the lockdown period, the popularity of such locations in Vienna has grown.
|Type of public transport||Number of Passangers||Length||Number of Lines|
Locals actively use public transport. The distance to the nearest metro station significantly affects the price of real estate, but even the proximity of a tram or bus stop is considered a noticeable plus.
The average area of housing by a federal land, sq.m
|Austria in total||100,0|
It is not surprising, if we remember that the Viennese live mainly in apartments, and the rest of the Austrians live in their own houses.
The largest living space per resident is in the Josefstadt district – 78 sq. m. This is one of the most expensive and smallest areas of the city.
The least living space per resident in the districts of Leopoldstadt and Brigittenau is 39 sq. m. Both of them are cheap.
According to the results of a survey conducted in April 2020 by the Raiffeisen Immobilien Vermittlung agency, the majority of Vienna residents did not show dissatisfaction with housing conditions.
|As happy as before||76%|
|More satisfied than before||12%|
|Less satisfied than before||8%|
|As unhappy as before||3%|
Predictably, the owners of large apartments (more than 120 sq.m) were the most satisfied, and those with housing less than 60 sq.m were the most dissatisfied.
With such sentiments, you should not expect that the residents of the Austrian capital will leave the city, as is the case in many countries.
Most of the houses in Vienna were built several decades ago. Historical buildings make up a small part of the housing stock, but there are also few new buildings.
In the very center of Vienna, in the Inner Stadt district, prices are higher than in the rest of the capital. The price per sq.m here is €19,800. The next most expensive one is another prestigious area of Vienna, Debling. The average rate there is at the level of €7,000. The cheapest area is Simmering, where a sq.m costs €4,150.
The richest Viennese live in the Inner Stadt. Their average income is €27,864. The residents of Rudolfsheim earn at least €18,343.
per sq. m
per sq. m
|Main residence||Other||Main residence||Other|
|Inner Stadt||16 047||€27 864||€19 800||€13 500||Not enough data||Not enough data|
|Leopoldstadt||105 848||€20 053||€5 600||€4 150||€1 270||€1 050|
|Landstrasse||91 680||€22 269||€5 750||€4 200||€1 280||€1 100|
|Wieden||33 212||€24 365||€5 800||€4 300||€1 330||€1 130|
|Margareten||55 123||€19 699||€5 300||€4 000||€1 200||€1 070|
|Mariahilf||31 651||€21 937||€5 700||€4 250||€1 320||€1 120|
|Neubau||31 961||€22 764||€6 150||€4 600||€1 330||€1 120|
|Josefstadt||25 021||€25 731||Not enough data||€4 900||€1 350||€1 160|
|Alsergrund||41 884||€24 054||€6 250||€4 500||€1 310||€1 140|
|Favoriten||207 193||€19 752||€4 700||€3 000||€1 130||€960|
|Simmering||104 434||€19 537||€4 150||€2 700||€1 050||€940|
|Maidling||97 078||€20 349||€4 550||€3 150||€1 170||€1 030|
|Hitzing||76 813||€26 741||€6 250||€4 400||€1 310||€1 150|
|Penzing||93 634||€22 853||€4 900||€3 350||€1 190||€1 060|
|Rudolfsheim||76 813||€18 343||€4 600||€3 150||€1 170||€1 030|
|Ottakring||103 117||€20 309||€4 650||€3 100||€1 170||€1 040|
|Hernals||57 027||€22 420||€4 600||€3 200||€1 150||€1 030|
|Währing||51 497||€25 480||€6 200||€4 200||€1 280||€1 110|
|Döbling||73 901||€25 699||€7 000||€4 700||€1 330||€1 120|
|Brigittenau||86 368||€19 059||€4 400||€3 000||€1 150||€1 040|
|Floridsdorf||167 968||€21 080||€4 400||€3 000||€1 130||€1 020|
|Donaustadt||195 230||€21 391||€4 600||€3 050||€1 170||€1 030|
|Leasing||110 464||€23 373||€4 300||€3 150||€1 080||€1 020|
Real estate in Vienna, as well as throughout Austria, has been increasing in price for a decade. The pandemic seems to accelerate this process. Double-digit price increases were recorded last year in some areas. New buildings in Austria are now considered the most expensive in Europe.
A steady upward trend in prices means that the investor is likely to get a good profit when reselling.
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