There is one conversation that repeats itself in our office almost every week. A client comes in and says: «I’ve been renting an apartment for two years. At first I thought it was temporary. But now I understand I’m staying. And I still can’t decide — should I buy or not. It feels strange to invest in a foreign country.» We hear this so often that we’ve started to think: this discomfort is not a financial question. It’s a psychological barrier. And it has a very specific nature.
Relocating to Vienna — regardless of the reason — almost always starts with a sense of temporariness. In the first months, one lives in the mode of «not yet settled in». The apartment is not a home, it’s a place where things are stored. The city is not yet one’s own. Plans are vague. And that is normal: this is how the psychology of adaptation works. But over time something changes. Vienna begins to become familiar, understandable and — gradually — one’s own. And it is precisely at that moment that the question arises that was not voiced in the first months: when is it worth thinking about buying an apartment in Vienna?
The First Year: «I’m Here Temporarily»
The vast majority of people who come to Vienna start with renting. This is logical and correct: the market is unfamiliar, the districts are not yet understood, plans can change. According to ComebackUA, as of early 2025 nearly 88,000 Ukrainian citizens lived in Austria — a sixfold increase compared to 2022 — with about 44% in Vienna. And the overwhelming majority rent.
The typical picture of the first year: an apartment is found quickly — through an acquaintance, a Telegram group, the first available listing. The conditions are not ideal, but «it’ll do for now». The Meldezettel is registered — and with that, familiarity with the Austrian rental system ends. The relationship to this housing is transient. Nobody hangs pictures on the walls. Thoughts about «whether one should really stay here forever» have not even been formulated.
The Second and Third Year: Something Changes
The turning point rarely comes sharply. It accumulates gradually — through small things that over time add up to a new reality. You begin to know where the best bakery in your neighbourhood is. You understand how Wiener Linien works and stop opening Google Maps every time. Your child comes home from school and tells you about friends — in German. Your employer offers a promotion and asks whether you plan to stay. And almost imperceptibly Vienna stops being «the city where I’m living for now» and becomes simply — the city where you live.
That is when the question of housing takes on a different dimension. No longer «where do I sleep», but «where do I want to live». And here most people encounter a specific psychological conflict: the rational understanding that staying is the right thing, and the emotional resistance to «investing in something foreign».
«I came to apartment viewings several times and each time I left thinking — I need to wait a bit more. Although I myself didn’t understand what I was waiting for. Some kind of permission, probably», says Iryna, who moved to Vienna in 2022 and bought an apartment in 2024.
«Investing in Something Foreign» — Where Does This Feeling Come From?
Buying an apartment in Vienna is not a pledge of allegiance to the city. It is a financial decision with a 7–10 year horizon. If during that time one decides to move — the apartment can be sold. If one decides to rent it out — it will generate income. Real estate in a stable city with a supply shortage is an asset, not a constraint. But psychologically «buying» is perceived as «staying forever». And this confusion of concepts costs people dearly: through years of rental payments that form no personal capital. A detailed calculation — what is more profitable: buying or renting in Vienna.
The average rent for a one-bedroom apartment in Vienna as of mid-2025 — around €1,045/month (Expat Focus). Two years of renting without buying means spending over €25,000 that forms no share of ownership in property. Had those same funds gone toward mortgage repayment — they would have become part of an asset.
The Austrian Logic of Housing: Why It’s Different Here
In Austria — and especially in Vienna — the attitude to housing differs culturally from the Ukrainian understanding. In Ukraine, traditionally «owning one’s apartment» is a mandatory attribute of adult, independent life. In Vienna it is different. The city has one of Europe’s largest regulated housing sectors: municipal apartments (Gemeindewohnungen) and cooperative housing occupy a significant share of the market and are rented at regulated rates in accordance with the Mietrechtsgesetz (MRG). Long-term renting is a completely normal model here, even for those who could afford to buy. More about Austrian real estate market trends — in a separate article.
According to Statistik Austria, the share of renters in Vienna is one of the highest among major European cities. But here it is important to understand the fundamental difference: an Austrian who rents a municipal apartment at a regulated rate is in a completely different situation from a foreigner who pays the market price of €1,100–1,400 and has no access to the Gemeindewohnung waiting list. The cultural norm of the locals is not your financial strategy.
Three Turning Points After Which People Call Us
In our practice we have noticed that the change in attitude toward buying does not happen gradually, but in leaps — through specific events.
First — a notice of rent increase. Even in the regulated sector, rates are reviewed in line with the Verbraucherpreisindex (VPI). In the free market, a more significant increase is possible when contracts change. That is when the thought appears for the first time: «How long will I keep paying for someone else’s property?»
Second — when a child starts school. Parents whose children are integrated into the Austrian education system think about the future differently. The planning horizon extends — and the question «where will we be living in 7 years?» becomes concrete.
Third — when someone first calculates how much they have already paid in rent. A family that pays €1,200 for three years has put €43,200 into rent. That is more than needed for an initial deposit on an apartment in an outer district of Vienna.
What to Check Before Buying an Apartment in Vienna
Regardless of what stage of adaptation you are at, there are eight parameters that determine whether you are ready to buy an apartment in Vienna.
1. Own capital. Most banks expect an own contribution of at least 20% of the property’s value. For an apartment costing €220,000, that is €44,000.
2. Additional costs. Plan for an additional ~10% of the purchase price: Grunderwerbsteuer 3.5%, notary ~1.5%, registration in the Grundbuch 1.1%, agent 3%.
3. Mortgage eligibility. After the abolition of the KIM-Verordnung (30 June 2025), the FMA guides banks by three criteria: LTV up to 90%, monthly repayment no more than 40% of net income, term up to 35 years. More details in the article «How to get a property loan in Austria».
4. Grundverkehrsgenehmigung. For citizens outside the EU/EEA, buying an apartment in Vienna requires a separate permit through the Magistrat. This process depends on individual circumstances. We coordinate it with a lawyer or notary. Preparation should start in advance.
5. District and price per m². Current prices by district — on immopreise.at and WKO Immobilienpreisspiegel. Range: from ~€4,400/m² in Brigittenau to 13,000+€/m² in the Innere Stadt.
6. Betriebskosten. In addition to the mortgage, the owner pays monthly building operating costs (~€2.5/m²) and the contribution to the reserve fund (Rücklage). For a 55 m² apartment that is another ~€160–200 per month.
7. Grundbuch check. Before any transaction we check the Grundbuch: owner, encumbrances, mortgages, easements. This is a mandatory step that protects against unpleasant surprises after signing.
8. Ownership horizon. Buying an apartment in Vienna pays off financially with a horizon of at least 5–7 years. If your plans are stable and Vienna is a long-term choice, the maths almost always favours buying.
How VigoImmobilien Guides a Client from Doubt to Keys
We do not simply search for suitable options. We build a concrete scenario for each client: budget, horizon, goal (for personal use or as rental Vorsorgewohnung), desired transport accessibility — and show current properties in Vienna in two to three districts with a comparison of real market prices. The independent market price assessment (Marktpreiseinschätzung) for each object makes it possible to understand: does the price match the market, is there room for negotiation.
We check the legal status of every object via the Grundbuch, coordinate the Grundverkehrsgenehmigung with a lawyer or notary, and accompany the transaction from the first viewing to signing at the notary and the subsequent registration of ownership. About how the Treuhandkonto trust account works when buying a new-build apartment — in a separate article.
We will calculate your specific scenario free of charge — budget, district, mortgage payment versus your current rent — and show the figures in one table. No obligation. Write to us today — and after just one conversation you will have a clear picture: whether to buy now, and if so — what exactly and where.
The Permission Nobody Will Give
Returning to the conversation we started with. Iryna was waiting for «some kind of permission» — for someone to say: «Yes, you can now consider Vienna your own.» But nobody gives that permission. It can only be given to yourself — through a simple question: «Where do I see myself in 7 years?»
If the answer is «in Vienna», then the next step is obvious. Not because «the market is good right now» or «rates have come down». But because every month of renting without building an asset is a deferred decision that becomes more expensive over time. Real estate is a long-term investment whose result depends on the specific property, location and horizon. That is why we calculate the figures individually and do not make general promises.
+43 664 99 8775 99 | [email protected] | vigoimmobilien.at
