The capital of Austria is a vast city with a millennia-old history, offering housing and other types of real estate to suit every taste and budget. In this article, we will explore the main types of residential real estate (apartments, maisonettes, penthouses, townhouses, and private houses), as well as commercial properties (office spaces, warehouses, premises for shops and restaurants, and zinshauses). Additionally, we will discuss their classification by price range.
Types of Residential Real Estate in Vienna
Residential real estate refers to a broad category of properties designed exclusively for living purposes. These properties can either be owned or rented. Typically, they cannot be used for commercial purposes; however, in certain cases, a company can be registered at the address of a residential property.
1. Apartments are common both in Austria’s famous Altbau buildings, constructed before 1945, and in modern developments. A significant portion of apartments is located in the central districts of the city. Here, you can find studio apartments, one-, two-, and multi-bedroom units, making apartments suitable for students, singles, couples, and large families alike.
2. Maisonettes are a type of property located in multi-apartment buildings and span two or more floors. Maisonettes are particularly convenient for separating living and working areas, even placing them on different levels. In Vienna, maisonettes can be purchased or rented in restored historical buildings, which often feature high ceilings and large windows, adding a unique charm.
3. Penthouses are located on the top floors of apartment buildings. They are most often found in central areas, featuring spacious layouts, large windows, access to expansive terraces or balconies, and sometimes even swimming pools. It is worth noting that in Vienna, there is a distinction between an “apartment on the top floor” and a “penthouse,” as the latter often includes a terrace or balcony running along the entire perimeter. This type of housing appeals to those who wish to live in luxurious and modern conditions while staying in the historical center of the city.
4. Townhouses combine the advantages of apartments and houses. In Vienna, townhouses are typically grouped into small complexes, where each house has its own entrance and adjacent outdoor area. They are commonly found in the 19th (Döbling), 13th (Hietzing), 23rd (Liesing), and 21st (Floridsdorf) districts. This type of property is ideal for those who enjoy blending suburban living with urban comfort.
5. Private houses include cottages, villas, and mansions, mostly located on the outskirts of the city. Those who appreciate a tranquil lifestyle and closeness to nature will be delighted with private houses in Döbling, where the windows offer stunning views of vineyards, or in Penzing, where forests and mountains are always nearby. Private houses are most often chosen by large families or pet owners.
Types of Commercial Real Estate in Vienna
Commercial real estate is a general term for properties used to generate income.
1. Zinshauses, or rental income houses, are apartment buildings typically owned by a single individual and exclusively intended for renting out apartments. This type of property is classified as commercial real estate, as the owner’s purpose is not to reside in it but to generate income from renting out the apartments. It is a classic and reliable form of real estate investment, highly popular in Austria.
2. Spaces for shops and shopping centers – Austria has numerous stores and small shops ranging from 10-12 sq.m. to 500 sq.m. There are also large shopping centers, covering 10-15 thousand sq.m., which can be purchased entirely or where individual spaces can be bought or rented. A unique feature of Vienna is that premises in the central part of the city are almost never available for sale; they can only be rented, often at a high price, with the additional payment of so-called Ablose or “compensation” to the previous tenant or even the owner.
3. Office spaces are one of the most popular types of commercial real estate in Austria. They are located both in modern business centers and in historic buildings in the city center. Notably, unlike in many other capitals, offices in Vienna are often situated in apartments.
4. Warehouses are most often located in the suburbs, industrial areas (such as Simmering and Favoriten districts), and near transport hubs (the airport and motorways). Vienna’s central location in Europe necessitates the presence of warehouses and logistics centers, making this type of property consistently relevant and in demand.
5. Premises for hotels, cafes, and restaurants are a goldmine for Viennese entrepreneurs. Every year, Vienna attracts an average of 7–8 million tourists. They stay in hotels, dine at local establishments, and thereby contribute to the prosperity of local business owners and commercial property landlords. Owning any of these types of properties guarantees a steady income.
Property Prices in the Capital of Austria
As a rule, the cost of real estate depends on its location, type, and condition. We can distinguish the following categories:
1. Luxury properties are primarily located in the city center (1st district) or picturesque surroundings (19th and 18th districts). They feature cutting-edge eco-friendly technologies, high-end furniture and fixtures, panoramic views, spacious terraces, and balconies. The purchase price for such housing starts at €10,000/m² and can reach up to €30,000/m².
2. High-end segment includes apartments, penthouses, and maisonettes in Vienna’s new developments or renovated Altbau buildings. Many options can be found in the 6th, 9th, and 3rd districts. The average purchase price for such properties is around €5,000–€10,000/m².
3. Mid-range segment consists of typical Austrian houses and apartments in middle-class residential complexes. This type of property is affordable for the majority of the city’s population, offers good living conditions, and is located in Vienna’s 10th, 11th, and 16th districts. The average purchase price is around €3,000–€5,000/m².
4. Affordable properties are located farther from the city center, usually offered in economy-class new builds, and are popular among students and migrants. The price ranges from €1,500 to €3,000/m².
As we can see, Vienna offers real estate options to suit every taste and budget. Whether you want to rent an economy-class one-room apartment or purchase a luxury private house, the VigoImmobilien team will be happy to find the perfect option for you. And if you’re interested in commercial real estate in Austria, our professionals will recommend the most profitable investment properties. So don’t hesitate to contact us for a consultation!
