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    Vienna: a charming capital city, an attractive investment spot

    Vienna – the enchanting capital city of Austria – is considered to be one of the most interesting real estate investment destinations in Europe. It offers an attractive real estate market environment and the demand for residential properties is very high. New high-quality residential units have been built and existing constructions have been renovated and converted into usable housing space.

    There is a strong interest towards property investments in the Austrian capital that seems to have come out of the disasters of the global economic crisis unharmed.

    After a little slowdown, it has become one of the most attractive destinations in Europe.

    Prices have remained stable and rents are among the highest after London, Paris and Zurich. Young couples with children choose residential areas to buy their home. Hietzing, Waehring and Boebling are their favourite neighbourhoods.

    In these areas there are the typical art nouveau villas with garden, wonderful penthouses and apartments for the high-end market.

    Prices start from 5 thousand euros per square metre and can reach 10 thousand euros for flats and attics. Prices for a villa start from 2 million euros, while high-level apartments in the old town can cost 10-15 thousand euros per square metre. Experts say that the value of real estate properties may even increase in the most prestigious areas.

    When buying a real estate property in Austria, it is important to know that if the property is resold ten years after the purchase, home owners do not have to pay any tax. If the property is rented, taxes vary according to rental incomes. Furthermore, Austrian lawyers are paid per hour; therefore, it is advisable to establish an expense threshold before signing the deed. Costs, VAT and taxes amount usualy to 15% of the purchase price of the real estate property.

    Next year, in Austria, two towers with a low impact on the environment with 60 apartments – that have been designed by Matteo Thun, an Italian architect – will be ready by next year.

    The demand for residential properties in Vienna is particularly high among Italians who search for small homes – above all 80-sqm two-roomed / three-roomed flats. These investors often buy the property and wait for its value to increase. They do not even rent the home they purchase.

    Prices in Rinke area – where there is the central business district – range from 4500 to 8000 euros per square metre, but can reach 15000 euros per sqm.

    The economic crisis here in Vienna has not induced home owners to sell their properties. On the contrary, home owners have decided to wait for better times. There has been a reduction in the number of flats for rent available in the Austrian capital city.

    The interest of private investors in the Austrian real estate market is on the rise. Local Austrian investors are gaining an increasing share in the Austrian market. Analysts say that 2010 will see a rise in the German investors’ share in the Austrian property investment market. A considerable percentage (40%) of the total investment volume was represented by open-ended and closed-ended funds in 2009.

    While the residential sector has remained stable, the sector of office spaces has experienced a slowdown. In 2009, 170 thousand square metres of office spaces were completed – 80 thousand square metres less than in 2008.

    Erdberg-St. Marx is the area that reported the greatest development in this sector. Prices have remained stable, even if firms look for smaller spaces and the overall demand is therefore lower. Furthermore, companies want to find cost-saving rental opportunities before renting a new office space. The level of let office space is expected to increase steadily in 2010.

    The highest percentage of letting activities in 2009 took place in the computer/Hi-Tech sector, along with Business and Financial services and Consumer services; the number of lettings decreased in the Public Sector.

    The price for the rent of a prime office space is also expected to rise in 2010, along with prime yields for newly built office properties with long-term leases.

    Real Estate Listings

    Cod. 21553

    For sale Villa, Austria, Vienna, viyana, 1140, penzing

    1,273,700.00USD
    For sale
    Villa

    323 m²
    Villa in Vienna. 7 Rooms, 3 Bathrooms, 3 WC, 2 kitchens, 2 large terasse, 2 balconys, aircondition, elevator, under floor heating etc. The Villa is bu...
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    Cod. 17513

    For sale Villa, Austria, Vienna, Baden, Property, plot No 658/32 is in a residential district of Baden bei Wien

    7,514,830.00USD
    For sale
    Villa

    1047 m²
    FLOOR  8.600 EURO-floor hall: reception guests hall, equipped with furniture, dressing room full of mirrors, special order  25.000 EURO- service b...
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    Cod. 14657

    For sale 2 Bedrooms, Austria, Vienna, Wien, Johannagasse

    233,087.10USD
    For sale
    2 Bedrooms

    73 m²
    Vienna's city center is located 5.kerületben 2.emeleti floor heating, 73m2, 2 bedroom beautiful apartment. Two bright rooms opening off each other, l...
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    Cod. 13856

    For sale Farmland, Austria, Vienna, Meidling, Hauptstraße

    713,272.00USD
    For sale
    Farmland

    2000 m²
    Offer very nice and just flat building lot, near Klosterneuburg and Vienna, ideal for the realization of dream homes.
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