Buying an apartment in Austria can be an attractive solution for both investors and people who want to live in a European country with a high standard of living. In this article, we would like to tell you about the advantages of Vienna as a city for buying your own property.
High standard of living
In 2023, Vienna was named the best city to live in. This is according to a report by the Economist Intelligence Unit (EIU). You can read more about this ranking in one of our previous articles, where we concluded that Vienna combines stability, excellent infrastructure, quality education, a developed healthcare system, as well as many cultural and entertainment events.
That is why buying an apartment in Vienna means getting a comfortable stay in one of the most prestigious cities in the world.
Stability of the property market
Austria, and Vienna in particular, has one of the most stable property markets in Europe. Real estate here is almost constantly growing in value, which can be seen in our analytical articles on the cost of apartments and houses in Austria. For example, in 2015, the cost of 1 m2 of an apartment in Austria was on average EUR 2,706, while in 6 years – until 2021 – the cost of the same 1 m2 increased by more than EUR 1,000 and amounted to EUR 3,889.
In view of this, buying a property in Vienna can be a safe investment that will ensure capital growth in the long term.
Opportunity to earn passive income
Due to its popularity among students and tourists, there is a steady demand for rental accommodation in Vienna. According to the immopreise.at statistics website, as of October 2023, the cost per 1 m2 of real estate in Vienna ranges from EUR 15.75 to EUR 23.02 (depending on the size and district). It is worth noting that owners of apartments in Vienna rent them out both for several months/years and on a daily basis. Therefore, an apartment can generate a stable passive income.
Convenient geographical location
Vienna is in the center of Europe, which makes it a great place to live, work and, of course, travel. Therefore, to buy an apartment in Vienna means to have your own European home, which, if desired, can become a great place for tourists to relax.
Vienna is the cultural capital of Europe
Vienna is a city with a rich cultural heritage. Living here, you will be surrounded by majestic architectural monuments, museums, theatres and other cultural attractions. You can read about what cultural monuments and other interesting places you can see in Vienna on our website.
As you can see, buying an apartment in Vienna can be seen as an investment, a place to live or a combination of both.
If you are interested in Viennese real estate, the VigoImmobilien team will be happy to help you rent or buy an apartment in Vienna. For more information, please contact us at +4366499877599 or email [email protected].
