How does rental housing affect the lives of residents and its market?

In Vienna, according to the provided data, the overwhelming majority of citizens live in rental apartments. The capital has about 913,000 residential units used as primary residences. Of this total, approximately 77%, which amounts to 702,000 apartments, are rented out. More than 400,000 of them belong to the municipality or various non-profit organizations.

The share of private apartment owners in Vienna is extremely small compared to other housing structures, and this trend is also observed throughout Austria. Although individual houses do exist, their number in the capital is insignificant.

Analysis of the housing stock

To analyze Vienna's housing stock more thoroughly, it is worth noting that in 2020, the city registered 913,000 residential units, while the total figure for the entire country is approximately 3.95 million. Among them, we can highlight:

• 54 thousand homes where their owners live;
• 118 thousand apartments with similar usage;
• 702 thousand rental properties, among which:
  • 207 thousand social housing units;
  • 190 thousand cooperative housing units;
  • 305 thousand other types of rentals.

Thus, a rental market has developed in the city, offering numerous opportunities for tenants. However, it is important to note that renting in the Austrian capital is characterized by some of the highest prices in Central Europe.

Demographic data

As of January 1, 2020, the total population of Austria was 8.9 million people, of which 1.9 million live in Vienna. Looking ahead to 2028, it is expected that the population of the capital will exceed 2 million people. If we look even further, by 2070, the number of residents could increase to 2.24 million, indicating a sustained demand for housing in the long term.

Age structure of the population

The average age of brides in 2020 was 41 years. In the age structure:

• up to 19 years old – 368,930 people;
• Between the ages of 20 and 64, there are 1,226,771 people.
• Over 65 years old – 315,490 people.

Forecasts indicate that the city's population will age: by 207023.9%the population will be over the age of 64, which will increase compared to16.5%At the moment, the share of young people under 20 will also decrease slightly.19.3%to19.2%Thus, if today the typical tenant is a working middle-aged person, in a few decades it is likely to be elderly people.

Households in Vienna

As of the beginning of 2020, there were 930,979 households recorded in Vienna, of which:

• 508 603 are multi-person.
• 422 376 – single-person.

The average household size is 2.04 people. It is expected that by 2080, the number of households in the capital will increase by23%...reaching 1.145 million. At the same time, the number of single-person households will increase at a faster rate, while the average family size will slightly decrease to...2.02person.

It's important to consider when choosing the size of an apartment for rent.

When choosing the size of an apartment for rent, it's important to consider the specifics of life for small families and single individuals. Vienna is significantly different from Moscow, with a much lower population density of about 46.07 people per hectare.

Comparison of population density

For comparison, in Paris this figure exceeds 200 people per hectare, while in the capital of Russia it reaches 49 people per hectare. The highest population density is observed in the Margareten district, where 274 people live on one hectare. This area is in demand for both living and recreation. Interestingly, the average income of the capital's residents is low, but housing prices remain high, which pushes people to choose more compact housing options.

The lowest population density

On the other hand, the Hietzing area has the lowest population density, with only 14.3 people per hectare. It is home to famous attractions such as the Lainzer Tiergarten nature reserve and the magnificent Schönbrunn Palace with its extensive parks. Thus, both densely populated and less populated areas have their appeal for potential investors.

The multiculturalism of Vienna

An interesting fact: about a third of Vienna's residents are foreigners. As of early 2021, 31.5% of the total population, which corresponds to approximately 805,000 people, were citizens of other countries. The largest representation among migrants comes from:

• Serbia (101,597)
• Turkey (76,025)
• Germany (64,182)
• Poland (55,267)
• Romania (44,584)

Vienna attracts migrants from countries with a high standard of living, which in turn contributes to the growth of its population. Furthermore, according to the latest data, the capital of Austria ranks among the top 10 cities in the world for the best quality of life, making it particularly appealing to new residents, which could lead to a potential increase in real estate prices.

Green areas of Vienna

Green spaces in Vienna occupy about half of the city's area, but they are distributed quite unevenly. In the city center, in the Josefstadt district, green areas make up only 1.9% of the total area, while in Hietzing, which is considered the greenest district, this figure reaches 70.6%. Despite being relatively far from the center, this district is renowned for its reputation.

Bike paths and transportation

Vienna also boasts an extensive network of bike paths, which spans 1,431 kilometers, covering a large part of the city. In comparison, the total length of the streets in Vienna is 2,786 kilometers. This highlights the residents' habit of living surrounded by nature and using bicycles as one of their main modes of transportation.

Interest in green spaces

Although traditionally the central districts were considered the most prestigious and expensive, they often lack sufficient green spaces. Nevertheless, even before the pandemic, proximity to green areas was important to the residents of Vienna. With the introduction of lockdowns, interest in such places has increased, which is observed not only in Vienna but also in many other major cities.

Public transport in Vienna

Vienna is known for its well-developed public transport system, which includes the subway, trams, and buses. According to the latest statistics, the number of passengers using transport in the capital amounts to an impressive 960.7 million people. The subway has a significant impact on this statistic, transporting 459.8 million passengers, highlighting its popularity among the city's residents.

The length of the metro lines in Vienna is 83 kilometers, while the tram routes cover 225.4 kilometers, and the bus routes span 661.9 kilometers. The availability of public transport plays an important role in determining the attractiveness of residential areas: housing located near metro stations or tram and bus stops is noted to be more appealing, and its value increases.

Living space in Vienna

Life in Vienna is significantly different from other parts of Austria, especially in terms of living space. The average area of residential premises in the capital is about 73.7 square meters, which is noticeably smaller than the national average of 100 square meters.

In regions such as Burgenland, Lower Austria, and Upper Austria, the average area per person is significantly higher, reaching:

• Burgenland — 124.0 square meters
• Lower Austria - 115.9 square meters
• Upper Austria - 109.2 square meters

In Vienna, apartment living predominates, while residents of other regions more often choose country houses. On average, there are 52 square meters per resident in Vienna, while in the Josefstadt district, this figure is 78 square meters, giving it the status of one of the most expensive areas in the city. The minimum area figures are recorded in the Leopoldstadt and Brigittenau districts, where they are only 39 square meters, making these places the most affordable.

Housing satisfaction

Despite the challenges posed by the pandemic, a survey conducted in April 2020 indicates that most residents of Vienna remained satisfied with their housing. 76% of survey participants noted that they continue to be satisfied with their living conditions, 12% stated that they have become happier compared to the past, while only 8% reported a decrease in their level of satisfaction.

The highest level of satisfaction is shown by owners of spacious apartments larger than 120 square meters, while those living in small apartments, that is, less than 60 square meters, experience significant dissatisfaction.

The growth of Vienna's housing stock

Over the past seven decades, the number of residential buildings in Vienna has increased by 2.5 times, indicating population growth and the development of urban infrastructure. Since 1951, the number of buildings has risen from 172,948 to 181,160 as of 2020. Most of these buildings were constructed in previous decades, and historical buildings make up only a small portion of the total housing stock.

Real estate prices in Vienna

The cost of housing in Vienna is also steadily rising.

The real estate market in Austria

In recent years, we have observed a significant increase in housing prices in Austria, particularly noticeable in the capital, Vienna. This phenomenon is driven by several important factors, including stable economic growth, an influx of population, and a growing interest in real estate investments.

Over the past decade, apartment prices in Vienna have been steadily rising, and COVID-19, as it turns out, has only intensified these trends. In the last year, some areas of the capital have shown impressive double-digit growth rates in housing prices.

As a rule, new residential complexes in Austria have higher prices compared to similar properties in other European countries.

Housing prices in central areas

The central districts of Vienna are recording astonishing price levels. The average price per square meter here reaches16,047 eurosand the cost of housing starts from27,864 eurosfor the apartment. For comparison:

• The Leopoldstadt district - the real estate prices are105,848 eurosThe rent varies from10.50 to 12.70 eurosper square meter.

This highlights the strong interest in this area from potential tenants and buyers.

Statistics on prices in other areas

If we look at other parts of the city, the statistical data indicates a steady increase in prices. For example:

• Margaret:the average cost of housing is about55,123 eurosRental rates are reaching10.70 eurosper square meter.
• Hitzing:The average price for apartments is around54,040 eurosThe rent remains high.13 eurosper square meter.

Despite the differences in prices and rental rates, it can be stated that the high level of profitability for investors looking to purchase real estate in Vienna remains relevant and is confirmed by the continuous rise in prices.

New residential projects

For example, new residential properties, such as projectsWerder Six...become a real magnet for affluent clients. One of these projects features:

• Apartment area62 square meterscost1,115,000 euros.

This housing features high-quality finishes and the use of exclusively premium materials, making it attractive to buyers.

Luxury apartments in the city center

In addition to this, the new projectHerzfeld Houseoffers luxurious four-room apartments with an area of265.57 square meterswith the cost6,800,000 eurosThese apartments are located in the very heart of Vienna, just a few minutes away from the famous Vienna State Opera and the Stadtpark city park.

Spacious apartments at Börseplatz 1

Another interesting project is —Börseplatz 1where very spacious apartments are offered:

• Area512 square metersfive bedrooms.
• The cost is9,952,000 euros.
• High ceilings up to4 meters.

All of the above, combined with quality construction and a great location, makes such properties in demand.

Prospects of the real estate market

Thus, the real estate market in Vienna not only shows a stable increase in prices but also attracts more and more investors interested in acquiring both residential and commercial properties in this magnificent city. Active redevelopment, high construction standards, and growing interest in investments inevitably influence price levels and potential returns in the secondary market.

Elegance and modern design

The finishing of apartments designed in the "modern classic" style exhibits exceptional elegance and contemporary design, which gives them a unique appeal. Such homes represent a harmonious blend of functional solutions with aesthetics, pleasing the eyes of true connoisseurs of beauty.

Unique offer from Luxury Immobilien GmbH

Luxury Immobilien GmbH invites you to consider a unique opportunity to become the owner of a luxurious loft in the magnificent capital of Austria, Vienna, priced at €9,952,000. This modern architectural project spans an area of 250 square meters and includes 6 comfortable bedrooms, providing ideal conditions for hosting guests or family living.

Key advantages:

• The ceiling height is 4 meters, creating an atmosphere of spaciousness and light.
• Carefully thought-out layout.

Exclusive penthouse in the center of Vienna

Among other exclusive offers, there is a luxurious penthouse covering 512 square meters, offered for 5,594,000 euros. This two-bedroom apartment is located in the heart of Vienna and is part of the Börseplatz 1 project.

Services for owners:

• Private wine cellar.
• Underground parking with charging stations for electric vehicles.
• Concierge service and developed infrastructure for maximum comfort.

Cozy apartment in the 19th arrondissement

If you are looking for cozy apartments in Vienna, you should pay close attention to the offer priced at 1,390,000 euros. These apartments are located in the 19th district of the city, in a picturesque area between vineyards and the Wienerwald forests.

Description of the apartments:

• The total area is 85.86 square meters.
• The attached garden is 240 square meters.
• Interior features: underfloor heating, central heating.
• Modern wooden-aluminum windows with triple glazing.
• Surveillance and alarm systems for security.

Family apartments in the Döbling area

Another outstanding offering is the luxurious family apartment in the prestigious Döbling district, priced at 1,980,000 euros. This area, located north of the center of Vienna, is renowned for its high value and status.

Features of living:

• Three-bedroom apartments located amidst vineyards and forests.
• Project Bellevue 74.
• Spacious and bright rooms for comfortable living.

Spacious penthouse in a quiet area

Check out this spacious penthouse covering 207.25 square meters in Döbling, offered for 3,290,000 euros. This area is known for its tranquility and well-developed transportation network, allowing you to reach the city center in just 20 minutes.

Advantages of a penthouse:

• High-quality finish.
• A well-thought-out layout that creates a cozy atmosphere.

Luxurious penthouse in the Am Werdertor project

Lastly, it's worth highlighting a luxurious penthouse covering 227 square meters with three bedrooms in the new elite project Am Werdertor, priced at 6,541,000 euros.

Characteristics of this penthouse:

• It is located on the fifth floor.
• First-class finishing in a modern style.
• High ceilings.
• Classic herringbone parquet layout.

Conclusion

Thus, in beautiful Vienna, you will find amazing living opportunities where the combination of comfort and elegance meets modern standards. The residential complexes offered by Luxury Immobilien GmbH provide their residents with top-notch conditions and unique living opportunities.

Vienna and its luxury real estate market

Vienna, the Austrian capital, attracts the attention of those who appreciate high-end real estate. Luxury Immobilien GmbH proudly offers a variety of outstanding properties for purchase. Let's take a closer look at some of them.

Elegant apartments in Am Werdertor

People looking for elegant housing may want to consider the impressive apartments for...3,990,000 €These spacious apartments, with an area211.4 square metersThey have four bedrooms and are located on the sixth floor of a new architectural project calledAt the Werder gatelocated in the very center of Vienna. The interiors of these apartments are designed using the most modern building materials, featuring high ceilings and elegant parquet flooring laid in a classic herringbone pattern. The walls are finished with high-quality drywall, which adds even more charm to the space.

Modern apartments in Werder Six

Another offer from Luxury Immobilien GmbH is luxurious apartments for1,399,000 €This apartment has an area of71.36 square meterslocated on the seventh floor of the projectWerder SixHere, the modern style is complemented by high-quality materials, and the panoramic glass windows provide stunning views of the surrounding city. This project is located in a historic building, which gives the residence a unique coziness and atmosphere.

Luxurious apartment with a terrace

It is also worth mentioning the luxurious apartment with a magnificent terrace behind it.4,799,000 €The area of this apartment is147.31 square metersIt has two bedrooms. The apartment is located in the central part of Vienna and offers a wonderful view of the city. There is an open terrace with an area of129.36 square meterswill become a wonderful place for outdoor relaxation with views of the cityscape. The new projectWerder Sixsuccessfully combines elements of modernity and historical charm.

Available apartments on the market

For those looking for more affordable options, it's worth considering the apartment that is for sale for2,995,000 €This apartment occupies an area128 square metersand is located on the second attic floor, offering three rooms. Although the building was constructed inin the year 1870The apartment has been completely renovated while preserving its historical atmosphere. The energy certificate shows impressive efficiency:34.02 kWh/m²which is a significant advantage for future residents.

Luxurious apartments from Immotrading GmbH

Continuing to explore interesting offers, it's worth highlighting an apartment from Immotrading GmbH, priced at7,750,000 €This luxurious apartment has an area of343 square meterslocated in the projectSkyview Penthouseson the sixth and seventh floors. A distinctive feature of this apartment is the impressive ceilings that reach up to5.6 metersThe project also includesImperial Loftswith a ceiling height of up to7.5 metersand other luxurious apartments with a high level of comfort.

Apartments in the prestigious district of Hitzing

An interesting option is an apartment with an area of147 square meters, at a cost of1,610,000 €located in a prestigious areaHitzingThis area is famous for its green parks and historical monuments, which guarantees a high quality of life. All the necessary infrastructure, including schools, markets, and parks, is located nearby.

Modest housing options

For those looking for more modest options, it's worth considering an apartment for495,000 €, with an area of60 square meterswhich is located in a cozy courtyard on the streetHolwegasseThis is a great solution for those who value the comfort of living in a peaceful environment, while still wanting access to all the essential amenities, such as shops, pharmacies, and restaurants.

Conclusion

Thus, Vienna offers a variety of housing options—from luxurious apartments to more affordable flats—making it an attractive place for real estate investment. The city continues to be an ideal choice for those seeking a high quality of life and comfort.

Conclusion

In conclusion, it can be confidently said that renting housing in Vienna plays a key role in the lives of most Viennese. Given the growing population and the low percentage of owner-occupied apartments, renting remains a relevant solution for many residents.

It's interesting that more than half of the rental housing is owned by the city or non-profit associations, highlighting the unique model of Vienna's housing stock. From the perspective of household types, we see a demographic shift:A large number of people live alone....which certainly affects the demand for small apartments.

Demographic changes and the future of renting

The growth of the population, along with the aging society, presents certain challenges and opportunities for the real estate market. It is forecasted that the number of households will steadily increase, which will require us to adapt and seek new solutions in the rental sector. It is particularly interesting that Vienna remains attractive to foreigners, which is an additional factor driving the demand for housing.

Population density and life in green areas

The comparison of population density with other major cities also highlights the uniqueness of Vienna:

• The lowest density is found in green and prestigious areas.
• Areas like Hitzing are becoming increasingly popular.
• The increase of green and comfortable spaces makes the city more attractive for living.

Quality of life and investment opportunities

Finally, it is worth noting that the quality of life in Vienna continues to attract people from all over the world, and this is clearly not a coincidence. In recent years, the city, which ranks among the top ten in terms of quality of life, has only strengthened its position. For real estate investors, Vienna presents an interesting opportunity:

• Given the growing demand, it is most likely that...Housing prices will continue to rise..

I have come to the conclusion that by observing these trends, we can be confident that renting housing in Vienna will continue to be relevant and in demand.